FOB STANDARD PROCEDURE TANK TO VESSEL (TTV)
1: BUYER ISSUES OFFICIAL ICPO, CPA, Q88 ADDRESSED TO THE REFINERY OR REPRESENTATIVE.
2: SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS THE SIGNED INVOICE TO SELLER.
3: SELLER ISSUES TO BUYER THE PARTIAL PROOF OF PRODUCT (PPOP) DOCUMENTS:
A) ATSC - AUTHORITY TO SELL AND COLLECT.
B) DTA – DIP TEST AUTHORIZATION.
C) PRODUCT PASSPORT – PRODUCT ANALYSIS REPORT FROM A RENOWNED INSPECTION COMPANY.
D) STATEMENT OF PRODUCT AVAILABILITY DULY SIGNED AND NOTARISED BY THE APPROPRIATE AUTHORITIES.
E) COMMITMENT LETTER TO SUPPLY.
F) ATV – AUTHORITY TO VERIFY THE EXISTENCE OF PRODUCT FROM THE STORAGE COMPANY (CALL OR EMAIL).
NOTE: BUYER SUBMIT Q88
2: SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS THE SIGNED INVOICE TO SELLER.
