FOB TANK TO TANK (TTT) PROCEDURE FOR ROTTERDAM, HOUSTON, FUJAIRAH, JURONG AND CHINA PORT

1) Buyer issues ICPO/CIS with full banking details and TSA.

2) Seller issues Commercial Invoice (CI) to Buyer. Buyer signs back the CI and Seller, Buyer and Buyers tank storage company endorse the Tank-to-Tank Injection Agreement (TTTIA) and Notice of Readiness (NOR) and both parties accept to inject the products with the Buyer/Seller hired tank farm facilitators at the respective port.

3) If the NOR is confirmed, Buyer receives below POP from Seller:
A. SGS COQ report for full volume of delivery,
B. Tank Storage Receipt (TSR).
C. Q&Q measurement documents.
D. Injection Report
E. ATV/UDTA/ATSC
F. Commitment letter to supply, and
G. Statement of availability of the product to Buyer.

4) Seller and Buyer endorse and sign the NCNDA/IMFFPA in favor of all Intermediaries/parties involved in the transaction.

5) Buyer conducts their own dip test. Upon successful dip test, Buyer makes payment by MT103 or TT wire transfer for the total product available to be lifted.

6) Buyer lifts the product and Seller issues title of ownership of the product to the Buyer. Seller pays all intermediaries involved.