EN590/JETA1

الوصف

TANKER TAKE OVER (TTO) PROCDURES:
1. Buyer issues official ICPO with banking details and company registration certificate.
2. Seller issues Draft contract for both parties to sign, within *4 hours buyer signs and send back with guarantee letter and proof of funds to fulfil the contractual agreement.
3. Seller issues the Proof of Product documents in buyer company's name as listed below;
**1. Certificate of Origin.
**2. Product quality passport (Analysis Test Report) By Russian standard Gost R.
**3. Commitment to Supply.
**4. Bill of Lading.
**5. Cargo Manifest.
**6. Vessel Q*8.
4. Upon receipt of the POP documents, the buyer provides their shipping agent contact information for the ship owner to open communication, issue a Notice of Readiness (NOR) and Power of Attorney to buyers shipping agent entrusting them to perform all needed shipping agency and freight forwarding services in the discharge port.
5. Buyer visit seller's escrow agent office and deposit *0% of total first shipment value in an Escrow Account with the seller to secure the procurement of the allocated product and quantity., the seller will instruct the vessel master to re-route the vessel tanker final destination to the buyers discharge port, upon confirmation of the deposit made to the escrow account.
5. (a) The *0% deposit held in the escrow account will only be released to the seller upon successful completion of the transaction between the buyer and seller, subject to the buyer's official approval for the release of the deposit to the seller.
5. (b) The Buyer, Seller, and Escrow Firm will physically sign an escrow agreement in China. Additionally, the Seller will provide a refund deposit guarantee letter to the Buyer.
6. Seller and Buyer signs the title transfer affidavit and the title ownership certificate is issued in the buyers company name.
7. Seller instruct vessel master to countersign the shipping agent Power of Attorney and proceed to send the complete set of maritime and shipping documents to enable the buyer shipping agent file for maritime report and make all preparation to receive the vessel tanker at the destination port terminal.
8. Upon arrival of the vessel tanker at the destination port and completion of CIQ Inspection, buyer pays for full cargo value via MT**3/TT Wire within *8Hours
9.Seller pays the intermediaries involved within *2 hours after receipt of payment of the product from the buyer.