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a-1 AVIATION KEROSENE
1
PROCEDURES
1.1
BUYER ISSUES TO SELLER THE ICPO AND THE LANGUAGE
FOR THE FINANCIAL INSTRUMENT APPROVED BY THE BUYER’S
BANK.
.2
SELLER ISSUES CONTRACT. SIGNED CONTRACT IS
RETURNED TO SELLER. SELLER SIGNS AND SEALS THE CONTRACT
AND RETURNS IT TO BUYER.
1.3 BUYER ISSUES MT199 AS POF. SELLER ISSUES
PARTIAL POP. THIS EXCHANGE IS DONE BANK TO BANK.
1.5
SELLER SUBMITS A PROFORMA INVOICE TO THE BUYER.
1.6
BOTH PARTIES LODGE CONTRACT WITH THEIR RESPECTIVE
BANKS.
1.7
BUYER SUBMITS TO SELLERS BANK MT-799 WITHIN 48
HOURS BASED ON THE PREAPPROVED LANGUAGE FOR THE
FINANCIAL INSTRUMENT.
IF THE MT-799/MT760 IS NOT SUBMITTED WITHIN 48 HOURS
THEN THE CONTRACT IS CANCELED, THE NON-PERFORMANCE
PENALTY GOES INTO EFFECT.
1.8 ONCE
MT-799/MT760 IS RECEIVED THEN SELLER SCHEDULES VESSELS
FOR SHIPMENT. TYPICALLY, IT TAKES 48 TO 72 HOURS FOR
VESSELS TO BE SCHEDULED AND LOADED, SUBJECT TO VESSEL
AVAILABILITY.
1.9 ONCE VESSELS
HAVE BEEN LOADED THEN THE POP DOCUMENTS ARE SUBMITTED TO
THE BUYER FOR REVIEW AND VERIFICATION. IF SELLER FAILS
TO SUBMIT POP DOCUMENTS, THE NON-PERFORMANCE PENALTY
GOES INTO EFFECT.
1.10
BUYER COORDINATES WITH SELLER FOR THE TANKER TAKE
OVER OF THE PRODUCT.
1.11
SELLER ISSUES THE FOLLOWING POP DOCUMENTS:
·
CHARTER
PARTY AGREEMENT
·
Q88
·
BILL OF
LADING
·
CARGO
MANIFESTO
·
AUTHORITY
TO ON BOARD
·
SGS AS AT
TIME OF LOADING OF VESSEL
·
CERTIFICATE
OF ORIGIN OF PRODUCT
·
COMMERCIAL
INVOICE
·
AUTHORIZATION TO DIP THE TANKER TANKS
1.12
BUYER WILL CARRY OUT THE VERIFICATION AND
ENDORSEMENT OF THE POP, SEAL THE SAME WITH THEIR BANK,
AND RETURN TO SELLER AND ISSUE A MT-103 FOR THE FULL
VALUE EQUAL TO THAT OF THE PRODUCT VERIFIED IN THE TANKS
OR VESSELS. BUYER RECEIVES TITLE TO THE PRODUCT.
1.13 BUYER ISSUES AN
INACTIVE FINANCIAL INSTRUMENT VIA MT-760 SUCH AS IRDLC
(IRREVOCABLE REVOLVING DOCUMENTARY LETTER OF CREDIT) OR
SBLC (STANDBY LETTER OF CREDIT) OR BG (BANK GUARANTEE)
EQUALS TO ONE MONTH’S LIFTABLE AMOUNT.
1.14 SELLER
TRANSFERS TITLE TO THE BUYER’S BANK FOR THE PRODUCT
SCHEDULED FOR CONSECUTIVE DELIVERIES AND THAT ACTIVATES
THE FINANCIAL INSTRUMENT.
1.15
BUYER PAYS 100% AT SIGHT WITH MT-103 MONTHLY AND
THE FINANCIAL INSTRUMENT STANDS IN BACKGROUND
THROUGHOUT
21
POP DOCUMENTS
21.1 A FULL SET OF
3/3 ORIGINALS PLUS 3 N/N COPIES OF OCEAN BILL OF LADING
MADE OUT “CLEAN ON BOARD” MARKED “FREIGHT PRE-PAID” .
THE B/L TO BE SIGNED IN ORIGINAL BY THE SHIP’S
MASTER AND “BANK” ISSUED OR ENDORSED FOR THE
DESTINATION, IDENTIFICATION OF THE LOADED CARGO
WITH QUANTITY EXPRESSED IN
US BARRELS
OR
METRIC TONS AT 60
DEGREES FAHRENHEIT.
21.2 ORIGINAL
QUANTITY AND QUALITY CERTIFICATES PLUS TWO (2) COPIES AS
ISSUED AT LOADING PORT BY AN INDEPENDENT SURVEYOR
COMPANY SGS.
21.3 CERTIFICATE OF
ORIGIN PLUS TWO (2) COPIES.
21.4 SIGNED
COMMERCIAL INVOICE BASED ON THE DELIVERED
QUANTITY/QUALITY AS DETERMINED DURING
LOADING OR AS DETERMINED BY THE INSPECTION CREW DURING
THE Q&Q PROCESS.
21.5 ANY OTHER
DOCUMENTS PERTAINING OR RELATED TO THE CURRENT TRIP DULY
SIGNED BY THE AUTHORIZED PERSONS, INCLUDING
CERTIFICATE OF INSURANCE, (1 ORIGINAL PLUS 3
COPIES) , CONFIRMED ORIGINAL SGS REPORT AT THE
DISCHARGED PORT, ALL LOADING DETAILS
INCLUDING LOADED QUANTITY, QUALITY, AND B/L DATE
WILL BE FAXED DIRECTLY TO THE BUYER PROMPT
AFTER COMPLETION OF LOADING FROM LOADING
PORT. ALL DOCUMENTS FROM THE THIRD PARTY ACCEPTED BY THE
BUYER FOR FULL PAYMENT TO SELLER.
Commission:
Buyer pays
commission
– 50%
to
seller
and
50%
to buyer
sides
Destination:
TTO Ras Tanura
Quantity:
4,000,000
Brls.
Per month x
12 months
Date
issued:
June
02, 2011
ICPO
should be
made
out
to:
TBA.
Valid
for
five
days
from
the
date
issued.
Contract
period
required
– 1
years
Informational Purposes only
06-06-2011 |