Aviation Turbine Jet Fuel A1
Procedures
COMMODITY: AVIATION TURBINE FUEL JET A1
TERMS OF PURCHASE: FOB ROTTERDAM
ORIGIN: KAZAKHSTAN/NON-SANCTIONED
SPOT TRIAL QUANTITY: 2,000,000 BARRELS
CONTRACT QUANTITY: 6,000,000 BARRELS MONTHLY X 12 MONTHS
PRICE FOB: US$88.00 GROSS, US$86.00 NET PER BARRELS
TERMS: SPOT & 12 MONTHS CONTRACT
DELIVERY: FOB ROTTERDAM PORT (TANK TO TANK)
INSPECTION: SGS/ INTERTEK
PAYMENT: MT103/TT
COMMISSION: $2.00 PER BARRELS (SHARED 50/50 BETWEEN SELLER SIDE & BUYER SIDE).
FOB ROTTERDAM TANK-TO-TANK PROCEDURE AGREEMENT (TTT)
- Buyer accepts Seller working procedure and issue ICPO addressed to the Seller along with Buyer’s Valid and confirmable Tank Storage Agreement (TSA) from a Major Storage Company.
- Seller issues Commercial Invoice (CI) and Buyer signs and returns back Commercial Invoice to Seller.
- Seller provide the Buyer with the below-listed Partial Proof of Product (PPOP):
A. Product Passport (Product Analysis Report)
B. Authorization to verify (ATV) via email or call
C. Commitment Letter to Supply
D. Authorization to Sell and Collect (ATSC)
E. Tank to Tank Injection Agreement (TTTIA) to be signed by Buyer and Buyer’s Tank farm.
- Seller registers the TTTIA with the Terminal Authority on Seller’s expense and provides the Buyer with Unconditional Dip Test Authorization (UDTA), SGS and Injection Report.
- Within 24 hours after successful confirmation of Q&Q and Injection Report, Seller proceeds for Tank-to-Tank Injection of the product to Buyer’s Tank and provide the Buyer with the update Injection Report of the product into Tanks.
- Buyer orders Inspection Team to conduct Dip Test, and after successful Dip Test, Seller issues payment invoice and Buyer within 24 hours makes the payment for a total cost of product injected into Buyer tanks via MT103/TT. Seller transfer Title Ownership to the Buyer with all Exportation Documents required of the Buyer for the transaction.
- Upon conclusion of first lift transaction, the Seller pays all Intermediaries involved in the Transaction and proceeds with the signing of the Contract with Buyer.
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