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Purchase.
Product and Quantities:
D6: 200 million barrels
En590: 300 K Ton/M.
CIF TRANSACTION PROCEDURE
1) Buyer issued Irrevocable Corporate Purchase Order (ICPO) addressed to the Seller
2. Seller Company issues a hard offer including information about Refinery, Shipping Company
(CPA
required) and Shipping Agent.
3. Buyer verifies legitimacy of the information received, and confirms in order to get, 1) ETA, 2) a
quotation/invoice of the product.
4. Buyer
´
s terminal manager communicates with the Refinery/owner and Shipping Agency via a
secure
system, to arrange schedules, exchange proof of products, and warrant reception and Buyer
´
s
financial capabilities.
4.1 POP list
a. Certificate of origin,
b. Statement of Product Availability,
c. Product Quality Passport
d. Refinery Commitment to Produce / Supply.
e. Shipping Company Cargo Confirmation
f. Q&Q Report
g. Injection Report
5. Once ETA is confirmed, and injection schedule is on the official systems, Seller will provide
access to
Ship live location (Not the general one everyone can see, but the internal location services
provided by
the shipping company).
6. Once ship arrives, import process begins (By the seller)
7. Seller Company releases copies of POP and Shipping documents to the buyer Company
a. Copy of the Charter Party Agreement to transport the product to the discharge port. b. Copy
of Shipping Schedule Document.
c. Product Analysis Report
d. Certificate of Origin
e. Bill of Lading
f. Tank Receipt
g. Vessel Q88
h. Certificate of Product
8. Buyer
´
s bank confirm readiness to pay or warrant
9. Upon confirmation by the seller
´
s bank, Seller conducts a dip test at the discharge port and
product
is injected into the seller tank.10. Buyer makes payment for shipment value and long term contract negotiation begins.
von "Elbin Enrique Blom" <eeblom2022@gmail.com> - 05:38 - 14 Juni 2026