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Procedure FOB Rotterdam

This document outlines the 8 step procedure for a FOB Rotterdam transaction. The steps include: 1) Buyer issues initial documents, 2) Seller issues a Commercial Invoice, 3) Seller provides proof of product documents after receiving a signed invoice, 4) Buyer performs an inspection and receives authorization to collect the product, 5) Buyer provides storage for injection of the product within 48 hours, 6) Buyer pays for the product after successful injection, 7) Seller confirms payment and pays intermediaries, 8) Seller and Buyer issue continuing transaction documents.

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2K views1 page

Procedure FOB Rotterdam

This document outlines the 8 step procedure for a FOB Rotterdam transaction. The steps include: 1) Buyer issues initial documents, 2) Seller issues a Commercial Invoice, 3) Seller provides proof of product documents after receiving a signed invoice, 4) Buyer performs an inspection and receives authorization to collect the product, 5) Buyer provides storage for injection of the product within 48 hours, 6) Buyer pays for the product after successful injection, 7) Seller confirms payment and pays intermediaries, 8) Seller and Buyer issue continuing transaction documents.

Uploaded by

GT
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Procedure

 –  FOB  Rotterdam  

1. Buyer  issues  ICPO,  Corporate  Profile,  POF  and  TSA    


 
2. Seller  issues  to  Buyer  Commercial  Invoice  (CI).  
 
3. On   receipt   of   signed   and   sealed   CI,   Seller   issues   POP   documents   to  
the  Buyer  
a. TSR  (Tank  Storage  Receipt)  in  Rotterdam  
b. Injection  Report  in  Rotterdam  
c. Unconditional  Dip-­‐Test  Authorization  
d. Letter  of  Acknowledgement  
e. Dip-­‐Test  Inspection  Schedule  
f. ATV  (Authority  to  Verify)  
 
4. Buyer   does   Dip-­‐Test   in   Sellers   tanks   with   SGS   official   and   receive  
Fresh   SGS   Report   alongside   ATSC   (Authorization   to   Sell   and   Collect)  
the  product  
 
5. Within  48  hours  Buyer  provides  TSR  or  Vessel  Storage  for  Injection  of  
Product  into  the  Buyers  hired  TSR  or  Vessel  
 
6. Upon   successful   injection,   Buyer   pays   total   cost   of   product   via   MT-­‐
103  
 
7. Seller   confirms   payment   and   releases   payment   to   all   the  
intermediaries  involved  in  the  transaction  
 
8. Seller   issues   SPA   and   Buyer   issues   banking   instrument   as   payment  
guarantee  for  the  continuing  contract  delivery  
 
 

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