Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 106 views

    Vega Spetnetservice

    Uploaded by

    Praphon Vanaphitak
    This document outlines the standard banking procedures for an FOB Rotterdam transaction of crude oil. It details a 6 step process: 1) Buyer issues purchase order and seller issues invoice and documents. 2) Buyer extends seller's storage tank and seller provides inspection and shipping documents. 3) Buyer inspects product and provides vessel details. 4) Buyer pays for product and seller transfers ownership. 5) Seller pays intermediaries and buyer lifts product. 6) Upon successful trial transaction, buyer and seller sign contract for ongoing monthly deliveries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Vega Spetnetservice

    Uploaded by

    Praphon Vanaphitak
    106 views2 pages
    This document outlines the standard banking procedures for an FOB Rotterdam transaction of crude oil. It details a 6 step process: 1) Buyer issues purchase order and seller issues invoice and documents. 2) Buyer extends seller's storage tank and seller provides inspection and shipping documents. 3) Buyer inspects product and provides vessel details. 4) Buyer pays for product and seller transfers ownership. 5) Seller pays intermediaries and buyer lifts product. 6) Upon successful trial transaction, buyer and seller sign contract for ongoing monthly deliveries.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document outlines the standard banking procedures for an FOB Rotterdam transaction of crude oil. It details a 6 step process: 1) Buyer issues purchase order and seller issues invoice and documents. 2) Buyer extends seller's storage tank and seller provides inspection and shipping documents. 3) Buyer inspects product and provides vessel details. 4) Buyer pays for product and seller transfers ownership. 5) Seller pays intermediaries and buyer lifts product. 6) Upon successful trial transaction, buyer and seller sign contract for ongoing monthly deliveries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    106 views2 pages

    Vega Spetnetservice

    Uploaded by

    Praphon Vanaphitak
    This document outlines the standard banking procedures for an FOB Rotterdam transaction of crude oil. It details a 6 step process: 1) Buyer issues purchase order and seller issues invoice and documents. 2) Buyer extends seller's storage tank and seller provides inspection and shipping documents. 3) Buyer inspects product and provides vessel details. 4) Buyer pays for product and seller transfers ownership. 5) Seller pays intermediaries and buyer lifts product. 6) Upon successful trial transaction, buyer and seller sign contract for ongoing monthly deliveries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    December 27, 2022

    TO : SPETSNEFTESERVICE
    Attention : GONCHAROV SERGEY MIKHAILOVICH
    Thru : ZULKIPLI BIN NINGAL
    (MANAGING MARKETING)

    Via : MOHAMAD SHAHRIL, FENSLIN EVONA REVLINE JASLIN


    : ALBERT CABUSAO
    : VEGA CONSULTANCY AND REFERRAL AGENCY
    Email: vtronvega7@gmail.com
    Cc: Vegaconsultancy75@yahoo.com

    FOB ROTTERDAM STANDARD BANKING PROCEDURES: TTV

    1. Buyer issues ICPO along with banking details, Passport Copy, and Buyer’s company
    registration certificate.

    2. Seller issues Commercial Invoice (CI) for the liftable quantity in storage tank in Rotterdam.
    Buyer signs and return CI in WORD Format. Seller issues the following documents after receipt
    of the signed CI.
    (a) Copy of Company Registration Certificate.
    (b) Export License.
    (c) Copy of Statement of Product Availability in the Storage Tank in Rotterdam.
    (d) Product Passport.
    (e) Commitment to Supply
    (f) Tank Storage Receipt (TSR).

    3. Buyer extend Seller’s tank. Upon Buyer makes payment for the tank extension, Seller
    issues to Buyer the following documents;
    (a) Three days (3) Unconditional Dip Test Authorization (DTA).
    (b) Fresh SGS Report inspected in Rotterdam Shore Tanks.
    (c) Tank Storage Receipt (TSR).
    (d) Authorization for physical verification of the product (ATV).
    (e) Injection Report Shore tank in Rotterdam.
    (f) Certificate of origin.
    (g) Commitment to supply.
    (h) Product Passport.
    (i) Notarized & endorsed NCND/IMFPA by the seller & their bank.
    (j) Port Security Clearance Letter

    4. Buyer sends his SGS/Inspection Team to conduct Dip Test in the seller tank on buyer’s
    expense. Upon full verification, Buyer provides its CPA, Q88 and all vessel details and Seller
    injects product into Buyer’s vessel.

    5. Buyer makes payment by MT103/TT wire transfer for the total product. Seller issues the
    Title of Ownership Certificate to be followed by all export documentation and Buyer lift the
    product.

    6. Seller within 48 hours of confirmation of payment pays all intermediaries involved in the
    transaction. Upon satisfaction and conclusion of the trial transaction, both Buyer and Seller sign
    contract for monthly delivery with rolls and extension.

    Kindly Regards,

    Albert Cabusao
    Managing Director

    You might also like