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EN 590 10 PPM

PROCEDURE FOR FOB TTT/TTV


1. Buyer issues an official Irrevocable Corporate Purchase Order (ICPO) containing the Seller' working procedure, Proof of Fund, Buyer's Banking detail along with Company Registration Certificate, a data page of the Buyer's Passport, and CPA if TTV.

2. Upon acceptance of the Buyer's ICPO, the Seller issues a Commercial Invoice (CI) according to available quantity in the Tanks.

3. Buyer signs the Commercial Invoice and returns to the Seller with Acceptance Letter under the Buyer' letterhead to comply with the transaction procedure; Seller Issues the POP documents as shown below:

a) Authorization to Sell and Collect (ATSC)

b) Tank Storage Receipt (TSR)

c) Fresh SGS Report

d) Certificate of Origin

e) Unconditional Dip Test Authorization (UDTA)

4. Buyer conducts a Dip Test on the Buyer' expenses in the Seller' tanks and upon confirmation of the Product quality and quantity, makes full payment for the cost of Product by MT103 Wire Transfer. Then issues Title Transfer Certificate to the Buyer.

5. Seller pays the intermediaries commissions respectively. Both parties proceed with the signing for a 12-month contract upon completion of the first trial, if applicable.

Special Note:

The buyer pays the product cost in full only after the Dip Test.

No other advance fee except Dip Test fee.

Tank storage charges shall be paid after the Dip Test, if any.

POF: BCL acceptable
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