DIP & PAY TRANSACTION PROCEDURES

TANK TO TANK / TANK TO VESSEL

FOB ROTTERDAM & HOUSTON
JET FUEL A1, EN590 10PPM, D6
Validity: 29 February 2024

PRICE & QUANTITY

AVIATION KEROSENE JET FUEL A1:
Trial Order Quantity: Minimum: 1,000,000 BBL – Maximum: 4,000,000 BBL
12-Months Contract Quantity: Minimum: 12,000,000 BBL – Maximum: 48,000,000 BBL
PRICE FOB Rotterdam: NWE Platt (Platt Code No: PJAAV00) Minus US$8.00 Per BBL.
PRICE FOB Houston: US Gulf Coast Platt (Platt Code No: PJABN00) Minus US$8.00 per BBL.

DIESEL GAS OIL EN590 10PPM:

Trial Order Quantity: Minimum: 100,000 MT – Maximum: 400,000 MT
12-Months Contract Quantity: Minimum: 1,200,000 MT – Maximum: 4,800,000 MT
PRICE FOB Rotterdam: NWE Platt (Platt Code No: AAWZD00) Minus US$90.00 Per MT
PRICE FOB Houston: US Gulf Coast Platt (Platt Code No: AATGZ00) Minus US$90.00 Per MT

DIESEL D6 VIRGIN FUEL OIL:

Trial Order Quantity: Minimum: 100,000,000 GAL – Maximum: 400,000,000 GAL
12-Months Contract Quantity: Minimum: 1,200,000,000 GAL – Maximum: 4,800,000,000 GAL
PRICE FOB Rotterdam: NWE Platt (Platt Code No: PKABA00) Minus US$0.20 Per GAL
PRICE FOB Houston: US Gulf Coast Platt (Platt Code No: PUAAI00) Minus US$0.20 Per GAL

FOB DIP & PAY TRANSACTION PROCEDURES: (TANK TO TANK / TANK TO VESSEL)
1. Seller’s agent, or one of its agents, sends Soft Corporate Offer (SCO), or Transaction Procedures
(TP), to the Buyer for buyer’s review. Buyer signs the SCO, or TP, and send a copy back to seller’s
agent along with a Letter of intent (LOI). LOI has to be on the letterhead of the buyer company,
with complete details of the product requested, sent directly from the email of the end buyer;
2. Seller’s agent send Official FCO and the format of ICPO to the Buyer;
3. Buyer signs the FCO, put ICPO on the letterhead of their company, completes all the company and
banking information, sign/stamp, and send both documents back o seller’s agent, along with
Company Profile/CIS, Passport copy of the authorized signor for the company, and Certificate of
Registration;
4. Seller issues PROFORMA INVOICE to the Buyer. Buyer sign and return a copy back to the seller;
5. Buyer proves its financial capacity to execute the transaction only directly by issuing Proof of
Funds (POF) Via MT199 to the Seller’s Nominated Bank Account;
6. Upon confirmation of the financial capacity of the Buyer, Seller issues Commercial Invoice (CI)
along with 12-month Sales and Purchase Agreement (SPA) to be signed by the Buyer. Buyer sign
the CI and the SPA and return a copy back to the Seller;
7. Seller Sends Proof of Product (POP) documents as listed below to the Buyer;
A. Fresh SGS Report, not older than 48 hours
B. Unconditional Dip Test Authorization (UDTA)
C. Injection Report
D. Tank Storage Agreement (TSA)
E. Tank Storage Receipt (TSR)
F. Tank Farm Bar-Code Information
G. Letter of Commitment to Supply
H. Passport of the Product (Q & Q)
I. Certificate of Origin Report
J. Registration Certificate
K. Confirming Warrant
L. Authority to Sell & Collect (ATSC)
8. Within no later than 48 hours of receiving the POP documents, the Buyer has the option to
conduct Dip Test Inspection in the seller’s tank. Upon conducting Dip Test, the Buyer submits TSR
from his Tank farm or NOR from his Shipping Company, and Seller inject the product into the
Buyer’s Tank or vessel;
9. Within 24 (twenty-four) hours, the buyer makes 100% payment for the total value of the product
via MT103/TT wire transfer, according to Commercial invoice, to the seller’s Bank account;
10. Seller transfer the product title to the Buyer;
11. Seller pays commission to all intermediaries involved in the transaction and subsequently
monthly shipment continues as per terms and conditions of the Sales and Purchase Agreement
between the parties;
12. Buyer issues Irrevocable, Transferrable SBLC/MT760 for the remaining 12 months of the
transaction;