02/11/2024
EN590 10 PPM Purchase Procedure...
1. Intending Buyer issues Irrevocable Corporate Purchase Order (ICPO) addressed to the seller/refinery along with following documents:-
Certificate of Company Incorporation
Copy Of Passport of Authorized Director
Tank Storage Agreement
CIS and KYC of Buyer (including banking details)
Commitment of Payment by buyer
2. Seller's legal department conducts due diligence With reference to ICPO and With in 48 Hrs issues Commercial Invoice (CI) to Intending Buyer and buyer return back CI to SELLER after signed and seal of Company.
3. Seller issues Non-Circumvention & Non-Disclosure Agreement (NCNDA) along with Irrevocable Master Fee Protection Agreement (IMFPA), Intermediaries/Mandates fill out their account information according to brokers involved as stipulated on the NCNDA/IMFPA and return to Seller for countersigning and endorsement before lodging documents with its bank.
4. Seller issues to the intending buyer the below Partial Proof of Product (PPOP) documents for verification of the product.
Refinery Commitment to Supply
Product Quality Passport
Statement of Product Availability
Certificate of Origin
Tank Storage Receipt (TSR)
Company Registration
5. Upon Successful Verification of the PPOP seller issues unconditional dip test in sellers tank on sellers cost.
6. Upon successful Dip Test in Seller's Tanks on buyer's cost; buyer provides
Tank to Tank Injection Agreement (TTTIA) to be signed by Buyer’s Tank Farm
TSR of Buyers Tank
Buyer makes payment for the total cost of goods after successful injection of product into buyers tank based on the SGS Report and.
Seller transfers Title Ownership, Authorization to Sell and Collect (ATSC), product Export License an all related documents to Buyer.
7. Seller pays Intermediaries / Mandates to the commission structure signe and agreed on the Non-Circumvention & Non-Disclosure Agreement (NCNDA) along with Irrevocable Master Fee Protection Agreement (IMFPA).
8. SBLC or DLC shall run for the length of Contra and for each lifting as scheduled.
YMENT COMMITMENT LETTER FROM BUYER
ICPO NO. DATED
This is to certified that, we M/S. Access issued the referenced ICPO and we are committed to pay all leagle payments 02 Days Tank Farm extension charges immediately after successful report of DIP TEST by SGS at Seller's Tank Farm. Via MY 103 against invoice issued by Seller.
Further, we undertake that, we will pay total cost of Product immediate after successful injection of Product in Buyers TANK VIA MY 103
Thanks and Regards
Muhammad Bilal Qureshi
+923009255808 (Call/WhatsApp)
