DIP & PAY TRANSACTION PROCEDURES FOB
1) Buyer confirms soft offer and issues ICPO.

2) Seller issues commercial invoice (CI) for the available quantity in the sellers storage tank. The Buyer signs CI and returns the CI to the Seller with the
signed tank storage agreement (TSA) for Sellers approval.

3) Seller issues the following PPOP documents to the Buyer:
a) Authorization to Physically Verify Product (ATV) to be endorsed by all Parties. (Authorization to verify letter will be endorsed by the seller, seller tank farm, buyer and buyer tank farm in order to ensure readiness to transport and receive the products).
b) Authorization to Sell & Collect (ATSC).
c)Product Authentication Certificate.

4) The seller provides Fresh SGS Report, Tank Storage Receipt and opens communication with SGS office & Storage provider for immediate Dip Test of the product.

5) Buyer books the SGS to conduct a Dip Test in the end sellers storage tank, and the Buyer pays SGS from his account for all the SGS charges for inspection and provides Q&Q reports in full. The Buyer will provide a copy of the Q&Q reports to the Seller free of charge. The Buyer provides tank details to the end Seller after performing Dip Test by SGS on his account, and then the Seller injection commences to the buyers tank.

6) Within 24 hours, the Buyer makes a 100% TT wire transfer payment to the End Seller, and the End Seller changes the title of ownership to the Buyer while receiving the total amount.

7) Seller pays all side intermediaries involved in the transaction, and subsequently monthly shipment continues as per terms and conditions of the Commercial Invoice, and extension of the transaction by issuing twelve (12) months contract to the Buyer for proceeding.