Our Procedures 

 1.Buyer issues ICPO addressed to seller/refinery mandate along with TSA.

 2.Seller issues commercial invoice, buyer signs and returns back to the seller within the validity period stipulated in the commercial invoice. 

 3.Seller verifies buyer tank farm and if approved, buyer Proceed to request for invoice of two   (2) days and three (3)days payment remittance; buyer leases his tank farm for 2 days ,seller   leases buyer tank farm for three (3) days only for tank farm to issue 5 days TSR; Seller also   issues injection schedule upon buyer tank farm receiving payment for both parties and     issuance of the TSR and seller proceeds to inject the product into the leased tank storage.

 4.Upon successful injection, the seller releases the following PPOP documents to the buyer: •Product Certificate Of Origin. •Authorization To Sale And Collect (ATSC} •Product Passport. •Dip Test Authorization, •Injection Report NCNDA/IMFPA will be signed by all Intermediaries   involved in the transaction.

 5.Upon the buyer’s receipt of the PPOP, the buyer inspects the product with an SGS agent or   equivalent.

 6.After the buyer's successful dip test on the product, the buyer makes the payment for the   total value of the product via MT103/TT wire.

 7.Upon the seller receiving the payment for the product from the buyer, the seller issues to the   buyer the title ownership of the product and all exportation documents of the product. 

 8.Buyer lifts the product with its vessel tanker, the seller pays all Intermediaries involved in the   transaction and send SPA to the buyer for one year subsequently monthly shipments continue   as per terms a of the contract.

  Buyer issues ICPO must be with buyer company letterhead.

  Seller issues Draft Contract (open for any amendments) to Buyer. Buyer signs, seals and returns    the Draft

 Contract to Seller for final endorsement. Seller gives Partial proof of products.

 (A) Seller Irrevocable Commitment to Supply

 (B) Statement of availability of product

 (C) Certificate of origin

 (D) Commercial invoice for the first value shipment.

  1. Within 7 banking days, Buyer’s bank sends Irrevocable Operative SBLC via MT760 or DLC via MT700 according to seller’s fiduciary bank verbiage to seller nominated fiduciary offshore bank account for first month shipment. should buyer fail to issue payment instrument within 7 banking days, buyer will make cash deposit of $320,000 USD by TT wire transfer for security guarantee to enable seller charter vessel and commence shipment, and this payment will be deducted from the total cost of product after inspection at discharge port, or legal action will be taken against buyer for default

 Note. : A commitment letter from the buyer will have to be issued separately mentioning the   acceptance of this clause

  1. Seller’s Bank Issues Full POP Documents to the Buyer’s Bank alongside with 2% Performance Bond (PB2%).

 a) Copy of license to export, issued by the department of the Ministry of Energy, Kazakhstan

 b) Copy of Approval to Export, issued by the Ministry of Justice, Kazakhstan.

 c) Copy of statement of availability of the product. d) Copy of the refinery commitment to             produce

 e) Copy of Transnet contract to transport the product to the loading port.

 f) Copy of the port storage agreement.

 g) Copy of the charter party agreement to transport the product to discharge port.

 h) Copy of Vessel Questionnaire 88.

 i) Copy of Bill of Lading.

 j) SGS Report at loading port.

 k) Dip test Authorization (DTA) & ATB

 l) NOR /ETA

 m) Certificate of Ownership Transfer

 n) Allocation Transaction Passport Code Certificate (ATPCC) by Ministry of Energy.

  1. Shipment commences as per signed contract delivery schedule and the shipment should arrive at Buyer’s discharge port within 5-24 days. The SGS inspection will be borne by the Seller at the loading seaport and Buyer at the unloading seaport.

 6. Buyer releases payment to Seller by TT/MT103 upon receipt of the shipping documents and

 confirmation of the Q&Q by SGS/CIQ at destination port.

 7. Seller releases the commission of the intermediaries immediately.

 1.Buyer issues ICPO according to the seller’s working procedure along with buyer’s company   certificate of registration or profile with copy of buyer’s passport. 

 2.Seller issues the Title Take-Over Contract (TTO/MOU) addendum for review and endorsement     by all parties. 

 3.Seller issues Proof of Product and Shipping documents as listed below; a) Product Passport   (Quantity & Quality Dip Test Analysis Report) b) Certificate of Origin c) Bill of Lading d) Tanker Vessel Q88 Document e) Vessel (N.O.R) Notice of Readiness f) Ullage Report g) Cargo Manifest   h)  Invoice for title transfer

 4.Upon the receipt of the documents, buyer verifies the availability of the product on high sea   and  immediately make 5% security guarantee payment of the total cost of the product. which   serves as a Title Take-Over Fee  

 5.Upon seller receipt of the title takeover payment, seller orders for re-rout to buyer’s desired   port, transfers the title to the potential buyer’s company’s name and also re-issue all other   outstanding documents to the potential buyer’s company’s and via swift from seller bank the full   prove of product. 

 6.Vessel arrives the discharge port and buyer carry out the CIQ/SGS inspection and upon a   successful inspection, buyer pays the by MT103 T/T for the full product to the seller. 

 7.Seller shall provide the following partial proof of product documents which were issued in   name of initial buyer

Dip and Pay


 1. The buyer sends a Corporate Profile, along with a FULL ICPO, a current and valid (TSA) and     buyer passport data page, Seller verify and approve Buyer’s TSA.

 2. The seller issues Commercial Invoice of the product in the seller’s tanks at the port, the buyer   signs and returns commercial invoice with an acceptance letter.

 3. Seller submit a 48 hours old hard copy of fresh SGS Report to buyer Tank farm company in   Rotterdam for verification of the SGS report with SGS in Rotterdam.

 4.Upon confirmation of SGS Report by buyer Buyer's Tank Company in Rotterdam, Seller request   for buyer’s active & operational TSR for injection program. (TSR days depends on the quantity to   be injected).

 5. Seller inject product to buyers tank and issues following POP documents to buyer:

 a) Q&Q analysis report done by Indigenous Lab at port of Origin.

 b) Full Injection report

 c) ATV / UDTA

 d) Copy of product Certificate of Origin

 e) Copy of product Export License to port.

 f) Allocation transfer Certificate.

 g) Authority to sell and collect (ATSC).

 6. Buyer conducts Dip test on the product at buyers cost for reconfirmation.

 7. Upon confirmation of SGS test by buyer for quantity and quality, buyer makes 100% payment   via MT103 for the total value of product injected into buyer’s tanks.

 8. Seller pays all intermediaries involved via NCNDA/IMPFA and subsequently monthly                 shipments  continue as per terms and conditions of the sales and purchase agreement contract     between   buyer and seller.


  For further information or other procedures, please contact us.

Charter Queen Supply