Tank farm delivery OPERATIONAL PROCEDURE FOR TFD.

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 BANKING/OPERATIONAL PROCEDURES TFD


OPERATIONAL PROCEDURE FOR TFD. 


OPERATIONAL PROCEDURE FOR TFD.

1) SELLER SIGN AND SEND CONTRACT, BUYER SIGNS CONTRACT AND RETURN THE ELECTRONICALLY SIGNED CONTRACT VIA THE SAME FORCE AND FUNCTION AS THE ORIGINAL AND IS LEGALLY BINDING AND ALSO SENDS TO THEIR BANK.

2A) BUYER RETURNS SIGNED CONTRACT WITH THEIR TANK FARM THROUGHPUT, INSPECTOR DETAILS, ATB/NOR FORMAT.

2  BUYER'S BANK AND SELLER'S BANK  OPEN COMMUNICATION 

2B)  BUYER'S BANK RAISE DRAFT OF  #50M TO CONFIRM THE PRODUCT 

 3) SELLER ISSUES MARINE ATBTO BUYER'S SUPER CARGO AND BOARD THEM AFTER CONFIRMATION OF THE PRODUCT, THE #50M TURN TO CASH

4) VESSEL MOVE TO STS AND UPON ARRIVA  ISSUES ATB TO BUYER'S INSPECTOR TO COME ONBOARD FOR Q/Q, INSPECTOR COMES DOWN WITH SAMPLE FOR Q/Q ANALYSIS.

5) UPON SUCCESSFUL Q/Q RESULT SEND TO BOTH PARTIES, BUYER PAYS 40% OF THE TOTAL CARGO BEFORE SELLER DISCHARGE INTO BUYER'S TANK FARM.

6) UPON CONFIRMATION OF THE 40% CASH, SELLER DISCHARGE INTO BUYER'S TANK FARM. SELLER SEND DOCUMENTS AND COMMERCIAL INVOICE FOR FINAL PAYMENT TO BUYER.

7) 72HRS AFTER THE SUCCESSFUL DISCHARGE OF THE PRODUCT INTO BUYER'S  TANK FARM AND THE RECEIVE OF DOCUMENTS/COMMERCIAL INVOICE, BUYER PAYS THE REMAINING 60% OF THE CARGO VIA BANK TO BANK MT103.

8) SELLER SAIL BACK TO THE TERMINAL FOR ROLL OVER.      

NEXT TRANSACTION!

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