EN590 10ppm — TTT FOB allocation

Overview

EN590 10ppm annual contract allocation from Turkmenistan with TTT delivery at Houston, Rotterdam, Fujairah, Hamburg, and Jurong. Structured for recurring monthly lifts within the stated volume range.

Key terms

• Incoterms: FOB TTT
• Monthly volume: 100,000–500,000 MT
• Price: USD 525/MT

FOB transaction procedure (Tank-to-Tank)

1. Buyer issues: ICPO, Tank Storage Agreement (TSA), and buyer passport.
2. Seller issues Commercial Invoice; buyer signs and returns for countersignature.
3. Seller releases Inspection Approval Letter to be signed by buyer and buyer's tank farm; all parties sign NCNDA.
4. Upon receipt of the signed Inspection Approval Letter, seller issues:
   • Quantity and Quality Certificate (SGS) 48hrs fresh
   • Tank Storage Receipt (TSR)
   • Certificate of Origin
   • Product Passport (Dip Test Result)
   • Statement of Product Availability
   • Refinery Commitment to Supply
   • Authorization to Sell/Collect (ATSC)
   • Injection Report
   • Unconditional Dip Test Authorization (DTA)
5. Buyer, seller, and SGS team meet at seller tank storage for dip test and face-to-face verification of hard copy POP.
6. Upon confirmation of Q&Q, seller seals tanks in buyer's name for 10 days; buyer pays by MT103/TT and seller begins injection into buyer's tank storage.
7. Seller pays intermediaries per signed NCNDA/IMFPA for monthly deliveries.

FOB transaction procedure (Tank-to-Tank, alternate)

1. Buyer issues: ICPO, Tank Storage Agreement (TSA), and buyer passport.
2. Seller issues Commercial Invoice; buyer signs and returns for countersignature.
3. Seller issues NDA for buyer, buyer's tank farm, and seller. Seller presents Injection Report and SGS Q&Q to buyer's tank farm; upon verification, buyer secures storage space.
4. Seller issues Injection Programming Agreement (IPA) for buyer and buyer's tank farm signature.
5. Seller transfers allocation and releases:
   • Product Passport
   • Certificate of Origin
   • Authority to Sell/Collect (ATSC)
   • Injection schedule with NOR (Notice of Readiness)
6. Buyer conducts dip test; seller commences injection and releases:
   • Injection Report
   • Recent SGS Quality Survey
7. Buyer conducts SGS inspection in own tanks; upon successful Q&Q, buyer pays total value by TT/MT103.
8. Seller releases Title Ownership documents and pays intermediaries per signed NCNDA/IMFPA.