FOB TTV Procedure: 

1. The Buyer issues a signed ICPO on their company’s letterhead.

2. Commercial Invoice (CI) issued by the Seller for the Buyer to review, sign, and return to the Seller within 24 hours along with the Charter Party Agreement (CPA) (Note: If the buyer is convinced that the seller can deliver, they are happy to share:

– a. CPA along with the ICPO,

– b. Q88 along with the reviewed and signed CI.)

3. Partial Proof of Product (PPOP) issued by the Seller:

– a. Commitment to supply

– b. Authorisation to Sell and Collect (ATSC)

– c. Certificate of Origin Availability of Product (EUR1 Certificate)

– d. Product Passport Quality Analysis

– e. SGS fresh report not older than 48 hours

– f. Injection report (wherever applicable)

4. Above documents verified and confirmed by the Buyer within 48 hours.

5. Following documents issued by the Seller to the Buyer to confirm within 24 hours.

– a. Valid Tank Storage Receipt (TSR)

– b. Terminal Access Code (TAC)

– c. Hub No.

– d. Authorisation to Verify (ATV)

– e. Booking No.

– f. Dip Test Authorisation (DTA)

7. The Buyer, within 24 hours, appoints SGS to conduct the Dip Test at the Seller’s Tank in the presence of the Buyer’s representative.

8. Upon completion of the Dip Test, the Buyer remits payment per invoice via MT103/TT.

9. Upon receiving clean, clear funds into the Seller’s nominated bank account as per the invoice raised, the Seller shall transfer the cargo and transfer the Title of the product to the Buyer.

10. The vessel will be allowed departure from the port after full payment to the Seller and transfer of cargo & title to the Buyer.

We are expecting a very competitive price given the volumes that we are looking to lift. We are ready to issue the ICPO and start lining up vessels at the earliest.

Also, please note it will be critical to have the following information as well regarding the requirements for smooth execution as we move ahead:

1. What is the origin of the cargo?

2. Who is the seller? Are they the title holder of the goods? Where is the seller based?

3. Please share the name of the seller (to whom the ICPO will be issued) and the bank that they plan to use.

4. Please confirm that they can supply FOB TTV in the following ports:

Qatar: Ras Laffan Port, Oman: Sohar Port, UAE: Fujairah, Singapore: Jurong, Europe: Rotterdam

5. Please confirm quantities that they can supply. I repeat, my buyer can lift: EN590 10 ppm – Upto 300,000 MT/Month.

6. What’s the minimum and maximum size of shipments you can supply? We will plan for vessels accordingly.

7. What’s the most competitive price that you can offer given the volumes we are looking to lift?

8. Also, the procedures that I am mentioning here is a globally accepted standard and will have to be followed accordingly.

I look forward to hearing from you concerning the spot order that you offered by email, post the successful execution of which, we can get into an annual contract.

gks@ametheus.com