TANK TO TANK (TTT/SGS) PROCEDURE (NON-NEGOTIABLE).
F.O.B. ROTTERDAM, HOUSTON, JURONG, FUJAIRAH

1. Buyer sends ICPO & TSA.

2. Seller issues CI to Buyer.

3. Buyer returns signed CI to Seller.

4. Seller issues fresh SGS report of less than 48 hours to Buyers tank farm for verification.
(Note: Subject to Buyers Tank Farms internal protocol, Buyer may contact Buyers 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 Sellers 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 Buyers 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 Sellers name and register the updated TSR with port authorities before providing the updated TSR to Seller.)

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.