EN590 Buy Requirement from Thailand - 27-Jan-2025

Dear Sir,

We want to buy EN590 10 PPM.

Tank Take-Over (TTO) Procedure

The Buyer submits an Irrevocable Corporate Purchase
Order (ICPO) in accordance with the Seller’s operating
procedures, accompanied by the Buyer’s company
registration certificate or company profile, along with a
copy of the Buyer’s passport.
The Seller issues the Title Take-Over Contract
(TTO/MOU) addendum for review and endorsement by
all parties.
The Seller provides Proof of Product (POP) and
shipping documents, along with a formal commitment
to supply the product as agreed. The documents
include:
Product Passport (Quantity and Quality Dip Test
Analysis Report)
Certificate of Origin
Bill of Lading
Tanker Vessel Q88 Document
Vessel Notice of Readiness (N.O.R.)
Ullage Report
Cargo Manifest
Invoice for title transfer
Upon receipt of the documents, the Buyer verifies the
product's availability on the high seas. The Seller will
also provide the contact details of the vessel captain.
Using the provided documents, the Buyer will
communicate with the captain to clear pre-customs and
file the maritime declaration.
The Buyer will only make the $450,000 USD security
guarantee payment (Title Take-Over Fee) after
customs clearance and the maritime declaration are
successfully completed.
If the provided documents are found to be fraudulent
or fail to pass customs clearance, the Buyer will not
make any payment.
Upon receipt of the Title Take-Over payment, the
Seller:
Confirms the payment and instructs the vessel captain
to anchor or reroute the vessel to the Buyer’s
destination port.
Transfers the Title to the Buyer’s company name and
issues all ownership documents in the Buyer’s name,
including a revised Bill of Lading (Importer/Consignee),
within 24 hours.
Reissues all remaining documents to the Buyer’s
company name.
Ensures that all original documents are handed over
directly to the Buyer or the Buyer’s shipping agent by
the vessel master, hand-to-hand.
The documents include:
(a) Approval Export License Certificate
(b) Authorization to Board the Vessel (ATB)
© Dip Test Authorization (DTA)
(d) Authorization to Sell and Collect (ATSC)
€ Title Transfer Ownership Certificate (TTOC)
(f) NS Code Number
(g) Letter of Entrustment
(h) Ullage Report
(I) full proof of product
Upon arrival at the discharge port in China, the Buyer
shall conduct the CIQ/SGS inspection. If the inspection
is successful, the Buyer shall transfer the remaining
balance in RMB or USD via MT103 T/T to the Seller’s
fiduciary account in China or Hong Kong. The Buyer
must complete the payment before the Seller is
authorized to unload the vessel. The Buyer will send
the MT103/TT wire transfer slip to the Seller, who will
then release the cargo to the Buyer.

Note: The security guarantee payment made by the
Buyer will be deducted from the total cost of the
product upon payment at the discharge port following
a successful CIQ/SGS test.
The Seller shall pay commission to brokers/
intermediaries as per the signed NCNDA/IMPFA
within 48 hours, after receiving confirmation of full
payment from the Buyer. If the Buyer intends to
continue the contract, the Seller will proceed with
subsequent monthly shipments. This MOU Agreement,
including the Sales and Purchase Agreement Contract,
will be signed and endorsed by the Seller’s bank as
proof of acceptance of the terms. The agreement will
also be notarized by a notary public in Kazakhstan.
The Seller and Buyer agree to proceed on a yearly basis
in accordance with the terms outlined in the signed
draft contract.

Thank you.

Contact: Mr. David Chan
Company: Chan Enterprises

Posted on : 27-Jan-2025
Posted From : Thailand

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