1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) with seller procedures and send alongside buyer’s CIS to Seller.
2. Seller submit the following documents for product verification.
a) Certificate of Product Origin
b) Product Passport (Quantity & Quality Dip Test Analysis Report)
c) Bill of Lading
d) Tanker Vessel Q88 Document
e) ulage report
f). Freight/Cargo Manifest
g) Invoice for product prepayment/ title transfer (30% of the product value)
3. Buyer acknowledges the receipt and request for Notice of readiness to be issued by the Vessel captain.
4. The vessel captain issue/release NOR to the Buyer/Buyers storage tank agent. Buyer will respond to confirm their readiness to receive the cargo.
5. Vessel will be schedule for the new destination and Captain issue and submit the ETA to Buyer.
6. Buyer pays 30% of the total product value upon confirmation of the ETA to the new destination.
7. Upon arrival of the vessel at Discharge Port, the vessel captain will hand over all the original POP documents to the buyer's
representative while buyer pays the balance the total product amount after SGS, CIQ or equivalent inspection at the discharge port via T/T Wire transfer while offloading will commence immediately.
8. Seller pays the intermediaries involved within 72hrs after receipt of payment of the product from the buyer.