We are procuring the petroleum products as per the Procedure below

Our Standard Procurement
Procedure

Procurement Duration
The delivery process typically spans 5-7 days for our customers who have signed a contract lasting one year.

OUR FOB PROCUREMENT PROCEDURE (TTT, TTV or VTV)

1. The Seller shall send the copies of its company’s (KYC) documents and a draft invoice (DI) along with a draft sale and purchase agreement (SPA) and the specifications of the Product to the Buyer’s for their review.
2. The Buyer shall review the Seller’s (KYC) documents, make amendments to DI and/or SPA if necessary and return them all back to the Seller via e-Mail.
3. The Seller shall issue the SPA accompanied by their Commercial Invoice (CI) for the available products in Tanks at the Ports and the following POPs to the Buyer for evaluation:
   • (a) Commercial invoice (CI).
   • (b) Commitment to supply (CS).
   • (c) Injection Report (IR).
   • (d) Fresh SGS (Not Older Than 48 Hours).
   • (e) Authorization to Sell and Collect (ATSC).
   • (f) Authorization to verify (ATV).
   • (g) Unconditional Dip Test Authorization (UDTA).
   • (h) Export license (EL).
   • (i) Statement of Product Availability (PA).
   • (j) Tank Storage Receipt (TSR) with GPS Coordinate and Bar Code.
   • (k) Certificate of origin (CO).
4. The Seller’s signatures on the CI, SPA and POPs must have been authenticated and verified by the Seller’s bank as outlined in the SPA. 
5. All those CI, SPA and POPs must be forwarded by the Seller’s bank to the Buyer, through the Seller’s Bank’s affiliated/corresponding bank in London, as per the verbiage of the Buyer outlined in the SPA.
6. After confirming the Seller’s identity, the product, and the ownership of the product, the Buyer will either submit a Proof of Funds as evidence of their authorization to utilize those funds, a BCL or an SBLC at its sole discretion.
7. The Buyer will conduct a DIP Test in the Seller’s Reservoir or Vessel.
8. Upon the completion of the dip test, the Seller will be furnished with the tanks Vessels details by the Buyer in order to initiate the product injection into the tanks or Vessels of the Buyer’s Correspondent, Authorized Representative, or Authorized Recipient.
9. The Seller shall issue an Injection Report for the complete injected quantity to the Buyer, within twenty-four (24) hours after the complete injection.
10. In accordance with the Buyer’s instructions, the Seller shall deliver the product to the Buyer’s designated Correspondent, Authorized Representative, or Authorized Recipient, thereby transferring ownership to them as per the instruction of the Buyer.
11. The Buyer shall send the full wire transfer of the amount appearing on the invoice to the Seller’s own Bank Account in JP Morgan Chase. This bank account must have been authenticated and verified to the buyer by the corresponding bank of the seller in London as per the verbiage of teh Buyer in the SPA. The buyer will assist the Seller to open Bank account with JP Morgan Chase.
12. The seller shall provide all necessary export documents for the product and delivering as per the buyer instructions.
13. The Seller shall send the commissions within forty-eight hours to all intermediaries as signed in the NCNDA/IMFPA.
14. The monthly consecutive deliveries shall commence per the terms outlined in the SPA.