info@cnbpetro.com | +971 527970286 | www.cnbpetro.com

Procedures

These are some of the procedures we follow:

FOB Transaction

  1. Buyer issue ICPO + TSA, banking details, scanned copy of buyer’s passport along with CP.
  2. Seller Issues commercial invoice to be signed by Buyer and Seller
  3. Seller issue to Buyer the Dip Test Authorization document (TDA) which is to be signed by the Buyer, Seller and Buyer Logistic company.
  4. Seller Issues NCDNA/IMFPA with the PPOP listed below to the Buyer: * TSR with GPS coordinates of the Tank Location * Injection report * Certificate of Origin * Authorization to sell * SGS Report * Product Passport (Lab Analysis Report).
  5. Buyer Conducts Dip Test and sends TSR to Seller.
  6. Upon successful Dip Test in Sellers Tanks, product will immediately be injected into Buyer’s Tanks. Buyer makes payment for the product via MT103/TT, and Seller pays commission for both the Buyer and Seller side intermediaries within 24 hours.
  7. Seller issues contract for buyers desired duration upon successful completion of the trial order.

Purchase Procedures – FOB

  1. Buyer issues ICPO with company registration certificate alongside a copy of passport page.
  2. Seller issues Commercial invoice, Buyer countersigns and returns back to the Seller.
  3. Seller provides for Buyer the Tank farm full details contact to the Buyer via the TSR, and issues the below PPOP documents to Buyer’s secured email for verification.
    1. Tank Storage Receipt (TSR)
    2. Passport product analysis
    3. Authorization to Verify
    4. ATSC
  4. Buyer contact Seller Tank farm via the provided TSR to finalize the number of days needed and extend Seller Tank for an agreed number of days after receipt of PPOP documents to enable the Tank farm to release the current TSR and inspection permit to conduct Dip test.
  5. Upon Tank extension (payment wire confirmation) Seller issue DTA to Buyer, Seller sends written permission for a site inspection of the tank storage and the tank storage company
  6. Buyer conducts SGS inspection and pays for the product by MT 103TT within 3 banking days against title transfer of the product.
  7. Seller pays commission within 48 hours by swift MT 103 to all intermediaries as signed in the NCNDA/IMFPA

FOB Rotterdam TTO (Tank Take Over)

  1. Seller issues FCO Document to End-Buyer & Facilitators.
  2. Buyer accept FCO Document, Signed, Sealed and return copies to the Seller
  3. Seller issue Draft (MOU/TTO) Agreement to Buyer. Buyer Countersign and Return Copies back to the Seller along with Company Registration Certificate.
  4. Seller issues the following (PPOP) Partial Proof of Product Document within 3 working Days to Buyer.
    1. Certificate of Origin
    2. Export License
    3. Product Quality Passport (Dip Test Result)
    4. Bill of Lading
    5. Vessel’s Q88
    6. ETA
    7. Invoice Document
  5. Upon Receipt of the Above POP Documents by the Buyer. Buyer Proceed with the Payment for the Title Transfer Charges on the Vessel via TT Wire Transfer 4% (Negotiable) of Total Product Value Quantity on Board Vessel for Title Transfer. This sum is deducted from the Total Cost of the Product on Arrival of the Vessel at Discharge Port.
    1. Upon receipt of the Above Payment. The Vessel Title Transfer Ownership Certificate will be issued to the Buyer Company and Complete Proof of Products, Shipping Documents will be sent to the Buyer alongside the Fresh SGS Report at Loading Port.
    2. Fresh SGS Report (48 hours)
    3. Dip Test Authorization (DTA)
    4. Authority to Board Vessel (ATBV)
    5. Authority to Sell & Collect (ATSC)
    6. Vessel Exact Location & GPS Coordinates.
    7. Seller Shipping Agent issues a Letter Appointment to Buyer Agent
    8. Seller’s Representative on Board Vessel Shall inform the Buyer Notices of Arrival within the Limits Specified.

Standard Seller’s Agreed Working DLC MT760 CIF Procedure

  1. Buyer issues Purchase Order upon receipt in acceptance of Seller’s Offer. Buyer issues his purchase Order (ICPO)
  2. Seller issues Draft Sales and Purchase Agreement Contract and Commercial Invoice for Buyer’s review and signing.
  3. Buyers sign the Sales and Purchase Agreement Contract and Commercial Invoice back to the Seller.
  4. Seller registers and legalizes the signed Sales and Purchase Agreement Contract.
  5. Seller sends legalized contract and below Partial POP Documents to buyer as listed below:
    1. Certificate of Origin
    2. Commitment so Supply
    3. Authority to Board Vessel (ATBV)
    4. Authority to Sell & Collect (ATSC)
    5. Vessel Exact Location & GPS Coordinates
    6. Seller Shipping Agent issues a Letter Appointment to Buyer Agent
  6. Seller’s Representative on Board Vessel shall inform the Buyer Notices of Arrival within the Limits. Specified.
    1. At least Seventy-two (72) hours before Arrival to Advise E.T.A
    2. At least Forty-eight (48) hours before Arrival to Advise E.T.A
    3. At least Twenty-four (24) hours before Arrival to confirm or Amend E.T.A
    4. On Arrival to advise the Exact time on Port Call.
  7. Vessel Arrival at Discharge Port.
  8. Trans-Shipment or Offloading of the Product Commences Immediately at Buyer’s Discharge Port.
  9. Buyer Pays at sight via MT103/TT for confirm Life-able Quantity within 48 hours with a Deduction of Pre-Shipment Deposit the Sum Upon Arrival of Vessel at Buyer Designated Discharge Port of Rotterdam Port and Successful Completion of Dip Test Inspection, Buyer Proceed with the Remittances of the Balance 95% Payment by MT103/TT Wire Transfer for the Total Product Value.
  10. Seller Pays commission to intermediary and beneficiary.

CNB Co. Ltd. is a privately owned and operated company which specializes in the distribution of goods and services.

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Address : 4th floor, Rasis Business Centre, Al Barsha 1, Dubai, UAE

Phone: +971 527970286

What’sapp +971 527970286

Email: info@cnbpetro.com

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