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PROCEDURES DIP & PAY FOB

Dip Test on Seller tank before injection into buyer hire tank

STEP 1

Seller issues SCO/ICPO FORMAT/NCNDA+IMPFA to End buyer.

STEP 2

Buyer provide below requirement to GNGROUP PTE. LTD.

  • Official ICPO with full banking details address to End Seller Via Mr JC-CS and Mr HHI
  • Tank Storage agreement (TSA) from reputable tank farm storage company
  • NCND + IMFPA must fill up, sign, stamping and Notary Public
  • Company Profile must latest
  • Passport picture page owner company or any director company

STEP 3

Seller issues CI (Commercial Invoice) and Buyer counter signed and return with 48 Hours to seller.

STEP 4

Seller Approve buyer TSA and issue POP documents to Buyer:

  • Commitment to supply
  • Certificate of Origin
  • Q&Q done by indigenous labat port of Origin
  • ATS(Authorization to Sell) License certificate
  • Statementof availability of product
  • Notice of Readiness (NOR) to Commence Injection of the Product.

STEP 5

Buyer provide to Seller Tank Storage Receipt (TSR), Authorization to Verify (ATV),Readiness to Receive Fuel (RTR) and send to Seller.

STEP 6

Seller confirm buyer tank and verify buyer tank then Seller issue to buyer Dip Test Authorization (DTA), Tank Storage Receipt (TSR), Authorization to Verify (ATV) to enable buyer to verify the fuel in Seller tanks.

STEP 7

Buyer engages SGS to conduct Q&Q dip Test Inspection on the Product on Seller tank to check the Quality and Quantity of the fuel before injection can to take place to be sure the product match the Specification for international Standard product.

STEP 8

Seller inject fuel into buyer tank and buyer confirm the fuel and buyer Pays by MT103 against SGS report

STEP 9

Seller issue Title ownership documents to buyer

STEP 10

Seller pays commission to Seller Side, Buyer pays Buyer side commissions:

  • 50%: Seller Side: (50% Closedto Seller Side)
  • 50%: Buyer side: (50% Open toBuyer Mandate & Intermediaries)
  • The agreed commission will be included within an Irrevocable Master Fee, Protection Agreement (IMFPA) to be signed between the buyer and the seller, group of each party prior to issuance of the Sales and Purchase Agreement (SPA).

STEP 11

Seller issue contract to buyer for signing and buyer sign and return same back to Seller.

STEP 12

Seller open 2% PB to buyer to guarantee the contract shipments and buyer open BG to guarantee the contract shipments and buyer make payment against Q&Q done by SGS report with Commercial Invoice on each slot tank

STEP 13

Buyer will pay 5% to Seller as penalty if the buyer fails to be performed and default while Seller will pay 5% to Buyer as penalty if the Seller fails to be performed and default.

IMPORTANT NOTICE: 

Consultant or Agent or Any Party that wants to raise the price to any buyer with want additional commission, then I hereby affirm that don’t want to make a deal or negotiations with us (GNGROUP), we will not be negotiable or whim raise price without any instruction by our Seller. Additional price deal you complicate matters and make it difficult for you to get success (CLOSING DEAL). But if you want to profit more, then you need to be a Reseller or Trader. Thank you

NOTICE 1:

  • These procedures, prices and conditions, are not negotiable.
  • The Seller only accepts documents submitted with its format, If the Buyer's request, we can send ICPO Format, and NCNDA / IMPFA templates used by the Seller.

NOTICE 2:

These above procedures have been approved by the Antimonopoly Service of Russia Federation and serve as a guideline for all transactions involving export of oil products from Russia Federation.

NOTICE 3: 

The above procedures must be accepted and Incorporated on the ICPO word for word. No Bill of Ladings, Warranties, SGS Reports, or past fulfilled Contract will be presented as "Past Performance," sanitized or not, for the following reasons;

AGAINST TRADE  REGULATIONS, AGAINST STATED SGS POLICY VIOLATES FORMAL CONTRACT CONFIDENTIALITY  BETWEEN BUYER AND SELLER.

NOTICE 4:

We ONLY work 100% strictly according to END Seller Company/Refinery's above procedures ONLY. Price lists are negotiable in some terms. if the terms and procedures are acceptable, kindly provide your ICPO for us to proceed further.

NOTICE 5:

The ICPO must be complete identification of principal buyer signed, sealed and stamped; in buyer's company letterhead with quantity per month/year, Target Price, Contract length, Buyer’s own opinion of specification if any and any other relevant details. We do not accept expired ICPO (Maximum date for validity is 5 working days).

NOTICE 6:

  • ANY ICPO ISSUED MUST INSERT OUR WORKING PROCEDURE.
  • WE DO NOT ACCEPT ANY ICPO WITH OTHER PROCEDURE

NOTICE 7:

Non-Circumvention, Non-Disclosure Agreement All information in this soft corporate offer are confidential and all trading deals with all parties including seller and buyer depend on this offer are secret and non-disclosure and non-circumvention. All correspondents between GNGROUP Company and your company (your party) it’s under Non-Circumvention, Non-Disclosure law. Product availability and acceptance buyer company are depending on seller decision

NOTICE 8:

Specification Standard

  • In FOB: Injection time 2-3 days
  • In CIF: Shipment time 20-25 days Inspection SGS or Equivalent