JET FUEL/DIESEL – FOB Rotterdam

For executing JET FUEL/DIESEL transactions on a Free on Board (FOB) basis in Rotterdam, adhere to the following detailed procedure to ensure an efficient and secure process:

Step-by-Step JET FUEL/DIESEL – FOB Rotterdam Procedure:

1. Issue of ICPO
   The Buyer initiates the process by issuing an Irrevocable Corporate Purchase Order (ICPO) with comprehensive banking details and a company profile.
2. Commercial Invoice Issuance
   The Seller responds by issuing a commercial invoice to the Buyer.
3. Invoice Acceptance
   The Buyer signs, seals, and returns the commercial invoice along with a letter of acceptance to the Seller within 24 hours.
4. Provision of TSA
   The Buyer provides a Tank Storage Agreement (TSA) from a reliable tank farm for the Seller’s verification and approval.
5. Payment of Storage Fees
   The Buyer and Seller simultaneously pay storage fees: the Buyer for 5 days and the Seller for 3 days, totaling 8 days. The Buyer then sends the Tank Storage Receipt (TSR) to the Seller with authorization to verify (ATV).
6. Issuance of PPOP Documents
   Upon verification, the Seller emails the following Partial Proof of Product (PPOP) documents to the Buyer:
   • Fresh SGS Report (Quality and Quantity) (24-72 Hours Fresh)
   • Tank Storage Receipt (TSR) with GPS coordinates of the tank location
   • Injection Report (Rotterdam)
   • Authorization to Verify (ATV) the product in the Seller’s tank
   • Product Passport
   • Unconditional Dip Test Authority (UDTA)
7. Injection of Product
   The Seller begins injecting the first month’s shipment quantity from refinery storage through the pipeline into the storage tank at the port of loading or via tank-to-tank transfer.Note: If the injection process exceeds 8 days, the Buyer must cover the additional days to complete the injection, depending on the tank location.
8. Dip Test Authorization (DTA)
   After the injection is complete, the Seller issues a Dip Test Authorization (DTA) to the Buyer. The Buyer then arranges for SGS to inspect the product.
9. Payment After Dip Test
   Following a successful Quality and Quantity (Q&Q) dip test by the Buyer, the Buyer makes payment for the total value of the product injected into the tank via MT103 or TT wire transfer.
10. Transfer of Title
    Upon receipt of full payment from the Buyer, the Seller transfers title ownership of the product and provides the export documents.
11. Commission and SPA
    The Seller pays all intermediaries involved in the transaction and sends the Sales and Purchase Agreement (SPA) to the Buyer for a one-year contract, with subsequent monthly shipments continuing as per the agreed terms and conditions.

Important Notice:

All Transaction Support Agreements (TSAs) submitted by customers will be verified for authenticity. Any inauthentic or forged TSAs will be grounds for legal action.