LOI | SCO | FCO | ICPO | CPA | CI | PPOP | Q88 | DIP TEST |
Product: | EN590 |
Origin: | KAZAKHSTAN |
Specification: | Annex B |
Trial Quantity: | 100,000 M/T |
Monthly Quantity: | 200,000 M/T |
Price | USD 510 M/T |
Contract Duration: | 13 Months (1 Month Trial + 12 R&E) |
Incoterms:: | FOB Rotterdam Port, The Netherlands |
Loading Method: | Tank to Vessel (TTV) – As per Annex A(ASTANA Refinery procedure) |
Payment Term: | MT103 or T/T wire transfer |
1. Buyer send LOI and Trading Company (Seller) sends FCO
2. Buyer issue ICPO and the CPA from a Shipping Company owning Oil Tankers/Vessels and reference of past experience lifting Petroleum from relevant Port to be warranted
3. If CPA approved by Refinery, Seller releases the CI within 48H
4. Buyer signs and returns the CI to Seller
5. Seller issues the PPOP documents as below:
A) Product Quality Passport
B) Certificate of Origin
C) Commitment to Supply
6. Buyer provides ATI and Q88 from the Shipping Company
7. Refinery/Seller issues Unconditional Dip Test Authorization, Fresh SGS Report, TSR to Buyer, and Buyer conducts Dip Test in Refinery/Seller Tank at Buyer's cost
8. After successful Dip Test, injection commences to Buyer's Vessel
9. After successful injection, Refinery/Seller issues:
A) Allocation License
B) Title Ownership Transfer Affidavit
C) Tax Registration Certificate
10. Buyer makes 100% immediate Payment of CI via MT103/TT to Seller within 24H
11. Seller and Buyer sign a SPA for One Year Contract Supply