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Trial Shipment & Term Contract

Procedures of Business to Purchase Product from Refinery Suppliers:-
“FOB" - “Trial Shipment” / “CIF” Term Contract - (As per Inco Terms 2010 (With Latest Amendment's)
Proposed Terms, Conditions and Procedures of Business

​1. ​
Buyer issues ICPO with Full Banking Co-Ordinates, to Supplier based on the following Terms, Conditions and Procedures of Business below.

2. ​
Supplier issues​ its Commercial Invoice (​CI)​ ​to Buyer, valid ​for the ​available quantity in the Suppliers Tank Storage Facility, which​ is ​ready to transfer into the Buyers approved ​tanks/Vessels​.

3. Buyer signs and ​returns CI, along with Photo ID, Corporate Profile​ ​and Certificate of Company Registration ​to Supplier.

4. ​
Supplier issues an "Unconditional" Dip Test Authorization (DTA), free of Costs, Fees, Charges to Buyer, other than the Buyers own Dip Test Inspection Agents Fees incurred by them, for Buyer to perform a Dip Test Inspection, and verify the fuel in the Suppliers Tanks. 

5. Supplier then issues to the Buyer, the following PPOP documentation:-

A. SGS, Intertek or Saybolt Inspection Agency Report, not older than (24) hours old from date and time of issuance.
B. Tank Storage Receipt (TSR), which confirms the Fuel is located in the Suppliers Rotterdam Tanks.
C. Tank Storage Agreement (TSA) between the Refinery/Supplier and the Refinery/Suppliers Tank Farm Operator.
D. Product Passport Dip Test Analysis Report issued by SGS, Intertek or Saybolt Inspection Agency.
E. Pre-Injection Report (PIR).
F. Certificate of Origin.
G. Authority to Sell and Collect in favour of Buyer (ATSC).
H. Authority to Verify (ATV).

 Upon verification of the PPOP documentation, Buyer orders either SGS, Intertek or Saybolt Inspection Agencies Dip Test Inspection to be performed in the Suppliers Tank/s. Buyer pays for its Q&Q Inspection.

Upon satisfactory Q&Q inspection, Buyer sends their (TSR + ATV + ATI + copy of SGS, Intertek or Saybolt Inspection Report) to the Supplier. The Supplier immediately issues its Final (CI) to Buyer as per the quantity on SGS, Intertek or Saybolt Inspection Report​, along with the Title of ownership Certificate to be followed by all Export documentation.

8. Buyer makes 100% payment to Suppliers nominated Bank Account by MT103/TT wire transfer for the total product.

9. Supplier issues their draft Supply Purchase Agreement (SPA) to Buyer for review, amendment and return, which is to include R&E for monthly deliveries.

10. Within (5-7) Banking Days, the Buyers Bank issues to the Suppliers nominated Bank, their Non-Transferable SBLC/IDLC for the value of (1) One months Shipment Quantity, with a validity of (365 Days + 1).


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