EN590 10ppm — TTV FOB allocation

Overview

EN590 10ppm diesel fuel oil under annual contract with FOB tank-to-vessel (TTV) delivery at Rotterdam, Houston, Jurong, and Fujairah. Product origin is Kazakhstan (non-sanctioned product) with standard export quality.

Key terms

• Incoterms: FOB (Tank-to-Vessel)
• Trial quantity: 50,000–100,000 MT
• Price: USD 490/MT gross

Notes to procedure

1. Buyer must obtain CI/DPST endorsement from vessel operator.
2. Buyer must assign Q88 into refinery name as supplier before receiving full POP documents, including SGS report.

FOB transaction procedure (Tank-to-Vessel)

1. Seller sends full procedure and buyer issues ICPO, CPA, Q88, and Guarantee Letter.
2. Seller sends Draft CI (Commercial Invoice) and Draft DPST (Delivery Processing Schedule Table).
3. Buyer and vessel operator endorse and approve CI and DPST and return to seller. Seller signs CI and issues final copy.
4. Seller programs injection and issues:
   • Unconditional Dip Test Authorization (DTA)
   • Fresh SGS report (less than 72 hours old)
   • Injection report
   • Certificate of Origin
   • Authorization to Sell and Collect (ATSC)
   • Tank Storage Receipt (TSR)
   • NCNDA/IMFPA
5. Buyer verifies POP within 24 to 48 hours. Optional dip test inspection via SGS at buyer's expense.
6. Upon successful dip test (if required), buyer provides INOR and seller commences injection into buyer's CPA chartered vessel. Buyer pays total product value by MT103/TT upon completion of injection.
7. Seller transfers title of product ownership to buyer with all export documents.
8. Seller pays commissions to intermediaries per executed NCNDA/IMFPA within 72 hours of payment.
9. Buyer and seller execute SPA for 12 months. Subsequent shipments follow the same procedure.