1. Buyer issues ICPO according to the seller’s working procedure along with the Buyer’s company certificate of registration or profile with a copy of the Buyer’s passport, CHARTER PARTY AGREEMENT (CPA) and POF.

2. Seller issues the Memorandum of Understanding (MOU) to the Buyer for review and endorsement by both parties.

3. Seller issues Proof of Product and Shipping documents as listed below.
a. Product Passport (Quantity & Quality Dip Test Analysis Report)
b. Certificate of Origin
c. House Bill of Lading
d. Tanker Vessel Q88 Document (Including IMO)
e. Commitment to Supply
f. Cargo Manifest
g. Authorization to Sell & Collect (ATSC)

4. Upon the receipt of the above POP documents, the buyer verifies the POP and immediately send email to the seller:
a. Confirm the verification of the POP
b. Request a Ship-to-Ship Injection Agreement (STSIA) from the seller The Ship to Ship Injection Agreement (STSIA) shall be endorsed by the buyer and the buyer’s shipping company. The endorsement fee payable to the buyer’s shipping company will be shared equally (50/50) between the seller and the buyer.

5. The buyer sends an email to their shipping company and cc’s the seller’s mandate to request the 2 invoices for the endorsement fee:
a. 50% endorsement fee to the Buyer
b. 50% endorsement fee to the Seller
The buyer remits its 50% portion first, followed by the seller’s payment of the remaining 50%.

6. After the Ship-to-Ship Injection Agreement (STSIA) is endorsed by the buyer’s shipping company, Buyer provide their vessel Q88 at high sea and all their vessel particulars, including ISPS code and certificate.

7. Upon receiving the buyer vessel document, the seller will instruct the vessel master to re-route the vessel tanker to the final destination, the buyer’s STS location.

8. Seller and Buyer sign the title transfer ahidavit and the Title Ownership Certificate is issued in the buyer’s company name.

9. Seller instructs Vessel Master to countersign the shipping agent Power of Attorney and proceed to send the complete set of maritime and shipping documents to enable the buyer’s shipping agent file for the Maritime Report and make all preparations to receive the vessel tanker at the destination port terminal.

10. The Seller will provide to the Buyer the following documents:
a. Master Authority to Board (MATB)
b. Authority to Verify (ATV)
c. Unconditional Dip Test Authority (UDTA)
And allow the Buyer & his Inspection team to board the vessel at STS anchorage and conduct the inspection. Upon arrival of the vessel tanker at the destination port and completion of CIQ / SGS Inspection, the buyer pays for the full cargo value via MT103/TT Wire within 48 Hours. (Note: After successful Inspection, the seller injects the product into the buyer’s vessel, & Buyer pays 100% for the product injected by MT103/TT) through CIPs.

11. Seller pays the intermediaries involved within 72 hours after receipt of payment for the product from the buyer.