Diesel 590-10ppm TTO (Transfer-to-Transfer) Sale Announcement for Floating Vessels

Diesel 590-10ppm TTO (Transfer-to-Transfer) Sale Announcement for Floating Vessels

Product Type: Diesel 590-10ppm
Available Quantity: Between 100,000 and 200,000 MT
Sale Method: TTO (Transfer-to-Transfer)
Location: Offshore, available for immediate loading.

Transaction Procedure:

LOI from the Client: The buyer issues a Letter of Intent (LOI) to formally express interest in the purchase.

FCO from the Supplier: TFI AGRIFOOD provides a Full Corporate Offer (FCO) detailing terms and product specifications.

ICPO from the Client: The buyer issues an Irrevocable Corporate Purchase Order (ICPO) along with proof of funds, confirming commitment to the transaction.

MOU from the Supplier: Within 48 hours, TFI AGRIFOOD provides a Memorandum of Understanding (MOU) to outline the terms of the agreement.

MOU Signature by the Client: The buyer signs and returns the MOU within 24 hours to proceed.

Submission of Proof of Product (POP): The seller provides POP within 48 hours, including:

A. Seller's Export License/Registration Certificate
B. Bill of Lading (in the name of the previous consignee)
C. Vessel Tanker Details
D. Product Passport - Dip-Test Report
E. Proforma Invoice
F. Agreeable Payment Deposit Invoice
G. Cargo Manifest
H. Cargo Ullage Report
I. Q88 Form
Opening of MT103/72: The buyer initiates a payment deposit via MT103/72, covering 3% of the vessel's value.

Vessel Consignment: The buyer's maritime agent arranges for the vessel to be available for loading.

Submission of Original Documents: The seller provides original documents to the bank to process the 3% deposit payment.

Vessel Departure: The vessel departs for the buyer's designated location within 24 hours of receiving the 3% payment.

Dip Test by the Client: Upon the vessel's arrival at the destination (e.g., Lomé, Togo), the buyer conducts a dip test within 72 hours to confirm product quality.

Product Injection: The product is transferred and injected into the buyer's storage facility or tank.

Final Payment: The buyer completes the final payment based on the quantity confirmed in the tank injection report.