POF via MT199 bank to bank

REFERENCE CODE: ECREFIN/2025/POFVIAMT199/01

ORIGIN: KAZAKHSTAN

LOADING PORT: HOUSTON / ROTTERDAM / FUJAIRAH / JURONG / ZHOUSHAN PORT / QINGDAO PORT / LINGKOU PORT SHANDONG / HUI ZHOU PORT / ZHUJIANG PORT

Procedure for Transaction

1.Buyer issues ICPO with CIS/KYC.

2.Seller issues Commercial invoice for immediately liftable quantity.

3.Buyer returns signed CI within 3 banking days to seller along with POF via MT199 bank to bank.

4.If buyer fails to issue POF via MT199 within 3 working days, in alternative buyer shall make guarantee deposit of 3% TT wire from total value of the commercial invoice to seller's bank account in USD or fiduciary account in RMB (Chinese buyers only) as performance to secure the allocation which will be deducted from the first shipment.

5.Once buyer provides the POF (or guarantee deposit of 3%). The Seller issue tank entry permit to buyer for buyer to conduct inspection on the fuels with the PPOP below:

a. Unconditional Dip Test Authorization (UDTA)

b. Authorization to Verify (ATV)

c. Product Passport

d. Authorization to Sell and Collect

e. Injection Report

f. Tank Storage Receipt

6.After successful inspection “SGS report” buyer makes payment for the product of Trial Lifting. Seller pays intermediaries involved in the transaction as per NCNDA/IMFPA

7.Seller transfers Title of the product to the buyer and the buyer is to evacuate the sellers tank space within 7days of the title transfer.

8.Monthly Lifting continues as above procedure 4-6 for 12 months with Rolls and Extensions