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Rotterdam Port TTV ProcedureFOB Dip & Pay ProcedureCIF Vessel-to-Tank Delivery

Rotterdam Port TTV Procedure

Step 1: Initial Documentation

Buyer's Actions:

The buyer must submit a complete ICPO package including:

  • Formal ICPO incorporating this procedure
  • Company's certificate of registration
  • Authorized signatory's passport copy
  • Valid company license
  • Complete banking information
  • Recent bank statement as proof of solvency

Step 2: Commercial Invoice Process

Seller's Actions:

The seller will issue a commercial invoice for products currently in storage tanks.

Buyer's Actions:

Upon receipt, the buyer must:

  • Review and sign the commercial invoice
  • Provide a formal acceptance letter

Step 3: Product Verification

Seller's Actions:

The seller will provide the following documentation:

  • Official Statement of Product Availability
  • Tank Storage Receipt (TSR) with verifiable barcode
  • Original Tank Extension Invoice from the tank farm

Step 4: Tank Extension and Inspection

Buyer's Actions:

Within 3 days of receiving documentation, the buyer must:

  • Pay for 3-day tank extension
  • Obtain fresh TSR in buyer's name
  • Secure clearance access permit (CAEP)
  • Arrange inspection accreditation

Step 5: Authorization and Testing

Seller's Actions:

The seller will provide:

  • Unconditional Dip Test Authorization (UDTA)
  • Complete tank operator details
  • Authorization to Sell and Collect (ATSC)

Buyer's Actions:

Upon receiving authorization, the buyer must:

  • Conduct the dip test
  • Submit Charter Party Agreement (CPA)
  • Provide Vessel Q88

Step 6: Payment and Documentation

Buyer's Actions:

Complete payment via MT103 or T/T wire transfer

Seller's Actions:

Upon payment confirmation, provide complete export documentation

Step 7: Contract Finalization

Upon successful completion of the transaction, both parties will proceed to sign a long-term contract for future dealings.

FOB Dip & Pay Procedure

Step 1: Initial Documentation

Buyer Requirements:

Submit a complete ICPO package containing:

  • Detailed seller's working procedure
  • Complete banking information
  • Nominated tank storage company details
  • Verifiable proof of funds for the intended purchase volume
  • Company registration documentation
  • Authorized signatory passport

Step 2: Commercial Documentation

Seller's Actions:

Issue commercial invoice for review

Buyer's Actions:

  • Sign and return the commercial invoice
  • Provide formal acceptance letter

Step 3: Product Quality Verification

Seller's Actions:

The seller's representative will:

  • Submit current SGS report to tank farm company
  • Provide copy of SGS report to buyer
  • Facilitate verification process with tank farm

Step 4: Tank Storage Arrangements

Storage Timeline:

  • Initial 3 days: Seller covers tank lease cost
  • Subsequent 3 days: Buyer responsible for extension payment

Step 5: Product Verification Documents

Seller Provides:

  • Quantity and Quality (Q&Q) report
  • Detailed injection report
  • Unconditional Dip Test Authorization
  • Authorization to sell documentation
  • Current SGS analysis report
  • Product verification authorization

Step 6: Transaction Completion

Final Steps:

  • Buyer initiates MT103 payment after successful dip test
  • Seller transfers full title ownership upon payment confirmation
  • Both parties proceed with long-term contract discussions

CIF Vessel-to-Tank Delivery

Step 1: Documentation and Verification

Required Buyer Documentation:

Submit comprehensive KYC package including:

  • Complete company registration documents
  • Valid tax identification documentation
  • Recent financial statements
  • Corporate profile and trading history

Step 2: Payment Security Arrangement

Financial Requirements:

  • Letter of Credit (LC) or Standby Letter of Credit (SBLC)
  • Coverage: 110% of total purchase value
  • Must comply with UCP 600 and ISP98 regulations

Step 3: Contract Initiation

Seller's Actions:

Issue Full Corporate Offer (FCO) including:

  • 5-day banking validity period
  • Complete terms and conditions
  • Pricing structure
  • Detailed delivery schedule

Buyer's Actions:

Provide Bank Comfort Letter (BCL) confirming financial capability

Step 4: Documentation and Contract

Process Timeline:

  • Seller issues formal contract and Proforma Invoice upon BCL receipt
  • Buyer's bank issues LC/SBLC within specified timeframe
  • All documentation must comply with international banking standards

Step 5: Shipping and Delivery

Seller's Responsibilities:

  • Arrange vessel meeting IMO regulations
  • Provide comprehensive shipping schedule
  • Secure insurance coverage (110% of cargo value)
  • Handle all freight arrangements

Buyer's Responsibilities:

  • Confirm receipt of shipping details
  • Prepare receiving terminal
  • Arrange customs clearance

Step 6: Final Documentation and Payment

Required Documentation:

  • 3/3 Original Bills of Lading
  • Commercial Invoice
  • Certificate of Origin
  • Certificate of Quality
  • Certificate of Quantity
  • Insurance Certificate

Payment Process:

  • Bank releases payment upon document verification
  • Title transfers to buyer upon payment confirmation

Additional Terms

Important Notes:

  • All procedures comply with international trade regulations
  • Dispute resolution through ICC arbitration
  • Environmental compliance with EU standards
  • Quality specifications as per standards

Important Notice: All procedures described above are standard frameworks and may be adjusted based on specific requirements and agreements between parties. Each transaction is unique and may require additional steps or modifications to ensure compliance with local regulations and specific business needs.

For detailed inquiries or specific requirements, please contact our commercial team for personalized assistance.