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JET FUEL

  • UK UK  
  • Last Updated:
    Posted on: 05 May 2021

  • Buying Frequency: Monthly
  • Payment Terms: Other

RFQ Details

TRIAL PROCEDURE, FOB Rotterdam



1. The Seller and Buyer will work to develop a mutually agreeable Terms and Procedure (T&P) that will include POF and PPOP. Upon agreement of the T&P, the Buyer issues ICPO.



2. Buyer provides a POF to the Seller proving its financial capacity to pay directly for the product in a form that is mutually agreeable to both parties. This is concluded prior to the delivery of the PPOP.



3. Seller issues Proforma Corporate Invoice (PCI) with Product Specifications. Buyer signs and returns the PCI to the Seller. The Seller’s Sales Purchase Agreement will be delivered and negotiated after the Trial Transaction is successfully completed. However, it is the mutual intention of both parties that the successful Trial will lead directly to a contract.



4. Seller provides the PPOP, to include:

Fresh SGS Report (not later than 72 hours)
TSR/ATV


5. After all satisfactory verification by both parties of POF and PPOP, Seller issues Final Corporate Invoice, Buyer issues payment for the product with MT103 receiving the product ownership at the same time, Buyer issues to the Seller its TSR/ATV with its Authority to Inject, and then the Seller injects the product to Buyer’s tanks and/or vessel(s). Based upon the injection logistics, the Buyer will/may be responsible of all costs of tank extensions.



6. Upon successful completion of the Trial Transaction, the Seller issues its draft SPA for 12 months with R&E for discussion, completion and signing by the parties.