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    00 Buy N Sell Proceedure From Seller 01 Incl Prelim

    Uploaded by

    Tam Fae da Islands
    The document outlines procedures for a tank-to-tank product sale between a seller and buyer. It details an initial process where the parties sign an NCNDA and exchange documents to verify each other's legitimacy. If verified, they provisionally agree to the sale. The actual purchase process then begins with the buyer issuing a purchase order and commercial invoice. The seller provides proof of product documents to an SGS office for verification. If verified, the product is injected into the buyer's storage and all parties sign agreements, after which the buyer makes payment.

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    © All Rights Reserved
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    00 Buy N Sell Proceedure From Seller 01 Incl Prelim

    Uploaded by

    Tam Fae da Islands
    14 views2 pages
    The document outlines procedures for a tank-to-tank product sale between a seller and buyer. It details an initial process where the parties sign an NCNDA and exchange documents to verify each other's legitimacy. If verified, they provisionally agree to the sale. The actual purchase process then begins with the buyer issuing a purchase order and commercial invoice. The seller provides proof of product documents to an SGS office for verification. If verified, the product is injected into the buyer's storage and all parties sign agreements, after which the buyer makes payment.

    Original Description:

    Process of sale of oil between buyer and seller

    Original Title

    00 Buy n Sell Proceedure from Seller 01 incl prelim

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    The document outlines procedures for a tank-to-tank product sale between a seller and buyer. It details an initial process where the parties sign an NCNDA and exchange documents to verify each other's legitimacy. If verified, they provisionally agree to the sale. The actual purchase process then begins with the buyer issuing a purchase order and commercial invoice. The seller provides proof of product documents to an SGS office for verification. If verified, the product is injected into the buyer's storage and all parties sign agreements, after which the buyer makes payment.

    Copyright:

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

    00 Buy N Sell Proceedure From Seller 01 Incl Prelim

    Uploaded by

    Tam Fae da Islands
    The document outlines procedures for a tank-to-tank product sale between a seller and buyer. It details an initial process where the parties sign an NCNDA and exchange documents to verify each other's legitimacy. If verified, they provisionally agree to the sale. The actual purchase process then begins with the buyer issuing a purchase order and commercial invoice. The seller provides proof of product documents to an SGS office for verification. If verified, the product is injected into the buyer's storage and all parties sign agreements, after which the buyer makes payment.

    Copyright:

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

    SELLER PROCEDURE – Tank-to-Tank

    Due to current market situations, and prior to any sale, the “buyer” has stipulated that the following
    procedure is adopted in order for both the “seller” and the “buyer” to evaluate each other’s
    capabilities and possible areas of ambiguity that may impair or impede the sale to the point of failure.
    To this end, the seller suggests that the following is adopted as a preliminary process, that should
    eliminate all doubts from either side
    PRELIMINARY PROCESS
    1. Buyer and seller endorse an NCNDA to enable the following process to begin.
    2. Buyer and seller exchange company documents that clearly state the senior managers and
    countries where it is registered.
    NOTE: each company is free to make the following checks into the company
    a) Date of establishment
    b) Directors and Main Managers
    c) Bank solubility, including any outstanding issues and court decisions
    d) Market credibility
    3. At this point, i.e. simultaneously
    a. the seller must provide visible evidence of PoP, and,
    b. the buyer must provide evidence of available funds
    NOTE: the deliverance of the evidence or documents, must be established to coincide with
    both parties meeting at a pre-arranged time where the exchange will take place.
    a. The exchange of documents or evidence should be electronic and verifiable
    b. The verifications process is controlled under the NCNDA and is clandestine
    c. Both parties further agree that the presentation of these document, does NOT endorse or
    commit either party to the slae and purchase.
    d. Once both parties are satisfied that the other party is bone-fide, then the actual sale and
    exchange can proceed as follows;
    ACTUAL PURCHASE PROCESS
    1. Based on FCO/SCO from the seller, Buyer issues and send irrevocable corporate purchase order
    (ICPO) with transaction procedure, CIS company along with TSA of the buyer, passport copy of
    the company representative.
    2. The seller sends a commercial invoice to the buyer; the buyer signs the CI and sends it back to
    the seller.
    3. The seller submits the POP package of documents to the SGS office:
    a) ATV (Tank Farm Verification Permit) in the name of the Buyer with a copy to the main tank
    farm operator;
    b) TSR (Tank Storage Receipt);
    c) Injection report;
    SELLER PROCEDURE – Tank-to-Tank

    d) DTA (Dip Test Authorization) - without any conditions;


    e) Fresh SGS report (not older than 48 hours)
    f) Authorisation to Sell/Collect (ATSC).
    4. After successful verification of the documents submitted by the Seller, the SGS office contacts the
    Buyer's tank farm to confirm the verification of the POP. The representative of the tank storage
    contacts the representative of the Tank storage of the Seller and agree on an injection schedule.
    5. After a successful dip test, the buyer submits the dip test results to the seller.
    6. Upon confirmation of product Q&Q, injection into buyers’ tank storage all parties sign
    NCNDA/IMFPA begins.
    7. The buyer makes payment by MT103 or TT wire transfer for the total product available.
    8. Seller and Buyer sign an annual SPA with DLC/2% PB.

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