FOB PROCEDURE TANK TO TANK (TTT)

1. Buyer sends ICPO & TSA.

2. Seller issues CI & ICC Warning Letter to Buyer.

3. Buyer returns signed CI & ICC Warning Letter to Seller.

4. Seller issues fresh SGS report of less than 48 hours to Buyer’s tank farm for verification.
(Note: Subject to Buyer’s Tank Farm’s internal protocol, Buyer may contact Buyer’s Tank Farm to get a confirmation letter in respect of the verification of SGS report.)

5. Upon successful verification of the SGS report, the Buyer pays and issues a fresh TSR of at least 5 days with Seller’s name on it as supplier. This process facilitates for the Buyer to obtain full POP documents and the seamless injection of the SGS verified product into the Buyer’s tank.
(Note: If Buyer has an existing TSR with another seller’s name on it as supplier, Buyer must change the supplier’s name on the TSR reflecting Seller’s name and register the updated TSR with port authorities before providing the updated TSR to Seller.)
(a) Seller’s Tank Storage Receipt (TSR) with full info including Terminal, Barcode & GPS
(b) Injection report
(c) Unconditional DTA on Buyer’s name
(d) Authorization to verify (ATV)
(e) Authorization to Sell and Collect (ATSC)
(f) Commitment to Supply (CTS)
(g) Product passport and analytical report (PP)
(h) Certificate of origin (COO)
(i) Attestation of allocation (AOA)
(j) Legalized commercial invoice

6. Buyer conducts a Dip Test in the Seller’s tank at Buyer’s own cost. Upon successful completion of the Dip Test, the Seller promptly provides the full POP documents to the Buyer.
(Note: Buyer should be financially responsible for all costs of purchase directly attributable to the acquisition of the product, include additional TSR required to enable injection process. Subject to the clearance confirmation from the port authorities, Seller will release the POP documents in full to Buyer accordingly.)

7. Seller injects the product into the Buyer’s leased tank and provides a successful injection report to the Buyer.

8. Seller signs NCNDA/IMFPA.

9. Buyer makes 100% payment via MT103 T/T within 48 hours to Seller’s nominated bank account.

10. Seller transfers title in favor of Buyer.

11. Seller pays all intermediaries involved in the transaction and subsequently monthly shipments continue per terms and conditions of the Sales and Purchase Agreement between Buyer and Seller.