TTV PROCUDURE ROTTERDAM

1. Buyer issues official ICPO addressed to the Seller. Buyer issues BCL
or RWA to Seller’s bank via Bank to Bank.
2. Seller issues ICC Warning letter and Buyer signs and returns ICC
Warning letter.
3. The Seller issues Commercial Invoice (CI), buyer signs and returns
the signed invoice to the Seller.
4. The Seller draws up SPA and sends it to the Buyer. Buyer signs and
sends back SPA together with CPA to the Seller.
5. Seller issues to Buyer Partial Proof of Product documents:
• ATSC - Authority to sell and Collect.
• PRODUCT PASSPORT - Product analysis report from a renowned inspection company.
• STATEMENT OF PRODUCT AVAILABILITY
• COMMITMENT LETTER TO SUPPLY.

6. Upon receipt of the above PPOP documents, Buyer sends

transferable, divisible, irrevocable, confirmed DLC to the Seller. In
case one year Contract, non-transferable SBLC is required to be sent
by the Buyer. %2 Performance Bond shall be given in case of the
SBLC.
7. Seller issues to Buyer via e-mail the DTA - Dip Test Authorization
and ATV - Authority to verify the existence of product.
8. Buyer extends Seller's tank and receives full GPS coordinates of the
tanks, Hub Numbers, terminal access permit and dip test is
conducted immediately with buyer's team to obtain fresh SGS report.
9. After a successful Dip Test, Seller performs the injection into
Buyer's vessel. Buyer conducts its DIP TEST Inspection for Q&Q of the
Petroleum Products aboard vessel.
10. Upon a successful Q&Q, Buyer’s Bank releases the payment at the
amount of the total value of the product injected into Seller’s Vessel.
11. Upon the receipt of the payment from the Buyer, Seller issues the
Ownership Title of the product to the Buyer together with all export
documents. 12. The Seller pays the agreed provisions to all
intermediaries involved in the transaction.