TANK TO VESSEL INJECTION AGREEMENT (TTVIA) FOB PROCEDURE

Incoterms: TTVIA FOB 2020
Delivery location: In shore tanks at loading port Mode of delivery: Tank-to-Vessel Injection (TTV) at load port – Fujairah, Jurong, Rotterdam
Platts: Negotiable on PLATTS of NWE, Mediterranean, Arab Gulf (AG), Fujairah Platts, Singapore MOPS Price basis: FOB TTV Fujairah (Fujairah Platts) / AG whichever is higher, Jurong (Singapore MOPS), Rotterdam (NWE Platts) minus agreed discount
Inspection: SGS / Intertek / Saybolt-Corelab or equivalent – Pre-Dip at Seller’s tank (Buyer cost) + Dip on Buyer’s vessel (Buyer cost) Payment terms: MT103 against SGS Dip Test Certificate (DTC) on Buyer’s vessel + Full Injection Report
Offer: Subject to tank availability & SGS Pre-Dip confirmation. Buyer must fix price with Seller after Step-6 POP & Step-7 PDIR.

TRANSACTION PROCEDURE

  1. Buyer Inquiry Buyer sends email to seller stating:
    • Product, specs, volume
    • Preferred load port
    • Laycan window
  2. Seller Response Seller issues FCO including:
    • Company profile
    • CIS (KYC) of Seller
    • Company Registration (notarized)
    • Available quantity, specification, load port, indicative price
  3. Buyer Commitment Buyer issues:
    • ICPO with clause: “Subject to Step-6 FULL POP + Step-7 SGS PDIR + Step-11 DTC”
    • CIS / KYC of Buyer
    • Company business profile
  4. Contract Issuance Seller issues:
    • RECAP
    • Pro-Forma Invoice
    • Draft SPA (with Condition Precedent Clause 4.1)
  5. Contract Finalization Conditional Signing (via DocuSign): → Buyer conditionally signs Pro-Forma + SPA → Seller conditionally signs SPA → SPA activates ONLY after Step-6 POP + Step-7 PDIR + Step-11 DTC
  6. Commercial Invoice Seller issues CI → Buyer conditionally signs and returns within 24 hours
  7. FULL UNREDACTED POP (PRE-CHARTER) – Issued by Seller within 3 banking days: a. Tank Storage Agreement (TSA) – unredacted, with Reservoir Company details b. Tank Receipt (TR) – ≤7 days old, exact volume, API, density, tank # c. SGS/CIQ Product Passport – ≤30 days d. Authority to Sell (ATSC) – notarized e. Commitment to Supply f. Reservoir Company Letter – confirming product for named Buyer
  8. SGS PRE-DIP INSPECTION (PDIR) – Buyer appoints SGS/Intertek/Saybolt:
    • Physical visit to tank farm
    • Confirm tank #, seals, volume, sample
    • Issue Pre-Dip Inspection Report (PDIR) → Buyer proceeds to charter ONLY after PDIR PASS
  9. Buyer Nominates Vessel & Provides POF Buyer submits:
    • Q88
    • CPA – signed only with vessel-owning company (agent name, phone, email)
    • POF: BCL / Bank Statement / SWIFT MT199 / MT799
  10. TTVIAC & DTA – Issued by Seller within 24 hours of POF: a. Reservoir Company contact details b. Tripartite TTVIAC (Reservoir + Buyer + Vessel Owner) – clause: “Injection only after DTA + DTC” c. Dip Test Authorization (DTA) – tri-signed (Seller, Buyer, Reservoir), 48-hr validity
  11. SGS DIP TEST ON BUYER VESSEL
    • Conducted in presence of: Buyer rep, Vessel officer, Reservoir rep
    • Live video feed recommended
    • SGS issues Dip Test Certificate (DTC) with exact injected volume & specs
  12. INJECTION & PAYMENT Only after DTC PASS:
    • Seller injects per NOR & schedule
    • Buyer issues DLC (MT700) or SBLC + MT103 for 100% cargo
    • Upon full injection: → Seller issues Full Injection Report → Buyer pays via MT103 within 24 hours → Title Transfer Certificate issued to Buyer
  13. Title & Cargo Transfer Upon clean funds:
    • Seller transfers Title Ownership Certificate
    • Updated TSR in Buyer’s name
    • Fresh SGS in Exit Buyer’s name
  14. Commission Payment Seller pays all agents via IMFPA (signed in Step-9) within 3 banking days

IMPORTANT NOTES

  1. FULL POP & SGS PDIR → Issued before charter. No exceptions.
  2. NO CHARTER BEFORE PDIR → Buyer has zero obligation to charter until SGS confirms product in tank.
  3. NO INJECTION WITHOUT DTC → DTA is tri-signed but injection only after SGS dip on Buyer’s vessel.
  4. CPA VALIDITY → Must be with vessel-owning company only. Logistic agents rejected.
  5. Dip Test Failure → If product fails spec or access denied → transaction void, SGS cost refunded by Seller.
  6. No Extra Fees → No terminal fees, port charges, or “facilitation payments” outside SPA.
  7. Force Majeure & Disputes → Governed by ICC rules, arbitration in Singapore / London (as per SPA).

Prepared by: Oil Trade Risk Desk Version: 2.0 | Date: October 28, 2025

Buyer Credential Verification Policy:

To ensure a secure and reliable transaction process, the financial capability of buyers intending to purchase fuels will be thoroughly verified.

  • Individual Buyers: Credentials of the buyer must be provided for financial assessment.

  • Joint Ventures (JV): If the buyer is importing fuels in partnership with another financially robust entity, both parties must submit their credentials for verification.

All provided information will be reviewed to confirm the buyer’s ability to fulfill the financial obligations of the purchase.

Indemnity Clause: In the oil procurement process, we strictly adhere to our established procedures, which are designed to be neutral, transparent, and structured to prevent scams and fraud in the oil trade. These processes ensure compliance, security, and fairness for all parties involved. Our procedures apply solely subject to the availability of the product.

Disclaimer : We hereby declare that we do not accept or source any fuel or petroleum products from Russia, Iran, or any other sanctioned country.

For any comments feel free to email at [email protected]

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