Atlas PetroleumGroup Inc.
Request terms
FOB transaction procedures

Tank to tank, start to finish.

Product loads at origin terminals and discharges at Houston, Rotterdam or Jurong. Chartering, inspection and documentation are handled in-house; where a counterparty prefers its own surveyor or charterer, we work to their appointment.

  1. 01

    Buyer issues:

    • ICPO
    • Tank Storage Agreement (TSA)
    • Buyer passport.
  2. 02

    Seller issues Commercial Invoice, Buyer signs and returns back to Seller for countersigning.

  3. 03

    After complete verification of the Tank Storage Agreement (TSA) by the seller company, Buyer contacts their tank farm to arrange invoice for seller to pay for 3 storage days to Buyer's tank Storage Company to confirm Seller's readiness towards the transaction.

  4. 04

    Upon receipt of payment for 3 storage days by the Buyer's tank Storage Company, the Buyer makes payment for an additional 3 storage days to complete the 6-day TSR. The Seller and Buyer representatives signs the NCNDA/IMFPA.

  5. 05

    Seller transfers product allocation to buyer and releases the following documents to Buyer:

    • Product Passport.
    • Certificate of Origin.
    • Authority to Sell and Collect.
    • Injection schedule along with the NOR (Notice of readiness) to commence the injection of the product in buyer's tanks and Injection commences as per agreed SPOT Lift Quantity.
  6. 06

    Upon Completion of Injection; Seller releases the following documents to Buyer:

    • Injection Report.
    • Recent SGS Quality Survey
    • Unconditional Dip Test Authorization.
  7. 07

    Buyer proceeds with inspection of product with SGS agent in his own tanks. Upon Buyer's successful Q&Q dip test on the product, Buyer makes the payment for the Total Value of the product injected into the Tanks by TT/MT103.

  8. 08

    Seller releases to Buyer the product Title Ownership documents and Buyer lifts the product with his vessel Tanker.

  9. 09

    Seller pays intermediaries as per NCNDA/IMFPA.

Non-negotiables
Sanctions exposureCargo, counterparties, vessels and routes are checked for known OFAC, EU, UK and UN measures before an introduction proceeds.
Documentary controlQ&Q certificates, bill of lading and origin documentation are expected to travel together, no exceptions.
Vessel historyAIS history and prior port calls are reviewed as part of standard due diligence ahead of charter.
Discharging ports by FOB delivery
HoustonUnited States Gulf Coast
RotterdamNorthwest Europe
JurongSingapore

CIF-only lines discharge at the buyer’s nominated safe port subject to acceptance. Every line is Nigerian origin.