1. Buyer signs NDNC with IPHO
2. Buyer issues ICPO addressed to IPHO SARL / along with the documents below (A, B, and C).
a. Buyer’s Company Certificate of Registration
b. Company Profile + CIS
c. Proof of Fund (POF) Directly to the Law Firm
d. Buyer acknowledges the acceptance of the procedure provided in this FCO dated MAY 02, 2023, with an initial on each page and signature on page 5.
Buyer hereby acknowledges that the ICPO is subject to the condition precedent that Seller's separate transaction with a third-party supplier of the goods is fully completed according to the contractual terms.
STEP 2 Payment Compliance, Commercial Invoice & TSA
Subject to the completed and successful Buyer onboarding procedure and AML compliance NVP will issue the
Payment Agreement to Buyer and Seller for signing:
1. Buyer will be notified about a dedicated account of NVP (Payment Agreement) that will be used for the entire
duration of the contract (first lift and ongoing).
2. Seller issues Commercial Invoice (CI) for the product in Seller’s tanks in the port terminal for Buyer’s review and endorsement.
3. Buyer reviews endorse the CI and return the endorsed Commercial Invoice (CI) to Seller along with: a. Payment Agreement
b. Buyer's valid Tank Storage Agreement (TSA) from Buyer’s Logistic Company. c. Authorization To Verify (ATV)
STEP 3 Verification, approval & POP
The Seller verify the Tank Storage Agreement (TSA) provided by the Buyer with an ATV, upon successful verification and approval of the authenticity and availability of the storage facility, the Seller releases the below POP documents directly to end Buyer’s secured email.
1. Commitment to Supply
2. Fresh SGS Report of the Seller (Not Older Than 48 hrs.)
3. Authorization to Sell & Collect (ATSC)
4. Authorization to Verify (ATV)
5. Dip Test Authorization (DTA)
6. Commitment Letter to Supply
7. Export license
8. Statement of Product Availability
9. Tank Storage Receipt (TSR) with barcode and GPS Coordinate.
STEP 4 Payment
1. Upon verifying the POP provided on Step 4, Buyer will make the CI payment.
2. Any difference in the final injection (+/- 3%) will be added on the final lift.
STEP 5 Dip Test & ATI
1. If required, Buyer order SGS To conduct Dip Test of the product in the Seller's Tank on Buyer Expenses.
2. Buyer provides Authority to Inject (ATI) from its Logistic Company to enable Seller commence Injection of Product into the Buyer's Tank.
STEP 6 payment release & Ownership
Within Twenty-Four (24) Hours upon completion of the Injection
1. Buyer authorizes payment release from the payment account for the total cost of the product injected into Buyer’s tank.
2. The Seller transfers the Title Ownership to the Buyer.
3. Commissions will be released to consultants in seller sides and buyer sides within 24 hours of buyer’s payment confirmation according to and based on the NCNDA/IMFPA and its paymaster.
STEP 7 Successful Delivery
Subsequent to successful delivery and confirmation of buyer capability, the seller will sign contract for 12 months.
Please note:
The above procedure is a guideline and subject to vary based on volume, date of the order, and the
final Supplier. It will be confirmed once
the ICPO is received, and the due diligence is completed.
Should you have any further questions please do not hesitate to contact us at:
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