EN590 10PPM / JETA1 / D6 VIRGIN FUEL OIL

Are you frustrated not able to close oil transactions??

Everyone who are into oil/gas business, wants to close transaction for themselves or their end buyers and get commission paid

This system will help both sellers and buyers to make sure they get what they want.

There are lots of people involved in buying and selling oil and gas. We're trying to streamline the process by using this system to know the real buyers in the Industry.

How it works

• Choose your preferred payment Terms.

Note: The Payment Terms GuaranteeTransaction Security.

• Upon checking out, you shall immediately receive CI, MOU or Contract for your signatory.
• Shipment commence and Shipping document sent to buyer directly.

Select your preferred payment terms, your deal is 100% done and MOU will be sent to your E-mail as soon you check out.

TRANSACTION PROCEDURES FOR TITLE TAKE-OVER (TTO)

1. Seller issues MOU contract for both parties to sign within 24 hours, buyer signs and send back with guarantee letter to fulfil the contractual agreement.

2. Seller issue POP documents which were issued in the initial buyer company's name as listed below.

a. Sanitized Certificate of Origin.

b. Product quality passport (Analysis test Report) By Russian standard Gost R.

c. Commitment To Supply.

d. Sanitized Bill of Lading.

e. Cargo Manifest.

f. NOR.

g. Vessel Q88.

h. Vessel ETA.

3. Upon receipt of PPOP documents, buyer’s bank issues MT199/MT799 Pre-advice showing buyer’s financial capability and readiness to purchase the cargo to seller nominated bank account.

4. Upon seller confirmation of buyer’s bank MT199/MT799 Pre-advice, seller transfer’s the title to the potential buyer’s company name and also re-issue all other outstanding documents to the potential buyer’s company's name and also re-route the vessel to buyer's destination port/terminal and issue ATB to enable Buyer board the vessel and DTA Dip Test Authorization effective from the vessel ETA.

5. Vessel arrive the discharge port and buyer carry out the CIQ/SGS inspection and upon a successful inspection, buyer makes payment for product by MT103 and deduct the payment made to seller if any payment is made to seller.

6. Seller out pays the intermediaries involved within 72 hours after receipt of payment of the product from the buyer.

ROTTERDAM PORT PROCEDURE SPOT/FOB

1. Buyer accepts seller working procedure and issue ICPO to the End seller via Seller's representative.

2. Seller issues a commercial invoice and NCNDA and Buyer signs and returns back commercial invoice along with Buyer's Tank storage agreement (TSA).

3. Seller Representative visit the buyer's tank farm for TTM with a copy of the SGS and Injection Report for buyer and his tank farm to verify the documents.

4. Upon successful verification of fresh SGS report and injection report by Buyer, Buyer makes 100% payment by MT103 TT wire transfer for the total product and extend seller's tanks to exit the fuel to their vessels.

5. Seller sends the following PPOP documents:

A. Statement of Product Availability

B. Letter of Guarantee

C. Product Passport (Analysis Report)

D. Certificate of Origin.

E. Tank storage Receipt

6. Sellers inject the fuel into the buyer leased vessels, transfer title to the Buyer and issue full POP documents to buyer.

7. Seller pays commission to seller's intermediaries and buyer pays commission to buyer's side intermediaries involved in the transaction within 24 hours after confirmation of the buyer's payment

8. Seller issues draft SPA to the buyer to review for R&E monthly deliveries.

9. Buyer review and approves the SPA and issues SBLC/IRDLC irrevocable, non-transferable, auto revolving for 12 months shipment value, documentary letter of credit for length of the contract, and for each lift per schedule. Buyer pays after Dip Test by MT103 Wire Transfer one each monthly quantity.

10. The subsequent delivery shall commence according to the terms and conditions of the contract.

11. Seller pays commissions to all intermediaries as per IMFPA/NCNDA 24 hours after receiving payment from the buyer.