GAS & PETROLEUM PURCHASE
GAS & PETROLEUM FUNDING TERMS
We can arrange for the purchase of Petroleum and Gas Products.
Procedures to purchase
(Tank-to-Tank)
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COMMODITY:
Crude Oil
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Merey 16 crude oil and other available grades
Refined Petroleum Products
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Gasoline (Octane 91 and Octane 95)
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Diesel (EN 590 10 PPM)
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Aviation Fuel (Jet A1)
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Virgin Fuel Oil (D6)
Gas Products
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Liquefied Petroleum Gas (LPG)
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Liquefied Natural Gas (LNG)
Primary Products of Focus
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Diesel EN 590
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Jet A1
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Virgin Fuel Oil D6
The Buyer issues an official ICPO incorporating the Seller’s procedures, together with:
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Buyer’s passport copy
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Banking details
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Valid Tank Storage Agreement (TSA)
Upon successful verification of the Buyer’s ICPO, logistics provider, and storage agreement with the relevant port authority, the Seller issues a Commercial Invoice (CI). The Buyer signs, seals, and returns the CI to the Seller.
Upon receipt of the signed CI, the Seller issues a Tank-to-Tank Injection Agreement (TTTIA) for execution by the Buyer. Following execution of the TTTIA, the Seller provides the following Proof of Product (POP) documentation, together with an NCNDA/IMFPA for execution by all intermediaries participating in the transaction and commission structure:
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Injection Report
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Product Passport
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24-Hour SGS Report
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Certificate of Origin
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Tank Storage Receipt (TSR)
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Authorization to Sell and Collect
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Commitment/Guarantee to Supply
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Unconditional Dip-Test Authorization
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Product Title Holder Transfer Agreement
Upon successful verification of the POP documents, the Buyer remits payment for the product via SWIFT MT103. Upon confirmation of payment, the Seller transfers title and ownership of the product to the Buyer.
The Buyer provides a valid Tank Storage Receipt (TSR) confirming sufficient storage capacity to accommodate the Seller’s injection schedule. The Seller then injects the product into the Buyer’s designated tanks.
Following a successful Trial Lift (first lift), the Seller issues a 12-month SPA/Contract with possible Rollovers & Extensions (R&E) for the Buyer’s review and execution.
Within 24 hours following completion of the injection, the Seller disburses commissions to all authorized intermediaries for the initial lift and all subsequent lifts in accordance with the agreed commission structure.