SOFIA OIL ASIA LLP

OFFICIAL TRANSACTION PROCEDURE: FREE ON BOARD (FOB) – TANK TAKE-OVER TTM

1.The Buyer submits an official Irrevocable Corporate Purchase Order (ICPO) and a Corporate Information Sheet (CIS) addressed directly to the Refinery/Seller.

2.The Seller issues a Commercial Invoice (CI) to the Buyer for review and formal ex*****on.

3.All involved parties execute a Non-Circumvention, Non-Disclosure agreement, and Joint Fee Protection Agreement (NCNDA/IMFPA).

4.The Buyer returns the signed CI, accompanied by a current Proof of Funds (POF) in the form of a Bank Statement or Bank Comfort Letter (BCL), along with a copy of the Contract of Chattered Party Agreement (CPA).

5.The Seller and the Storage Firm coordinate to schedule a Table Top Meeting (TTM). The Buyer may be accompanied by up to two representatives for the physical verification of the product allocation.


6. Following successful physical verification, the Buyer receives an invoice for a 10% Commitment Down Payment. Upon receipt, the Seller releases the full set of Proof of Product (POP) documents, including:

a. Fresh SGS Inspection Report
b. Authority to Sell and Collect (ATSC)
c. Tank Injection Report
d. Unconditional Dip Test Authorization (UDTA)
e. Product Passport
f. Statement of Product Availability
g. Commitment Letter to Supply

7. The Buyer’s appointed inspection team (e.g., SGS, Saybolt, Intertek, Ampec, Vopak, or equivalent certified chemist/surveyor), in coordination with the Storage Firm, executes the official product dip test.

8. Upon a successful dip test in the Seller’s tanks, the transaction proceeds via one of two pre-agreed methods:
* Option A: Buyer takes over the Seller’s designated storage tank.
* Option B: Seller injects the product into the Buyer’s nominated vessel.

9. Following complete tank take-over or vessel injection, the Buyer remits the remaining 90% balance of the total product value via MT103/TT wire transfer or in Crypto USDT, as per mutual agreement.

10. The Seller formally transfers title ownership of the product and all related export documentation to the Buyer. Subsequently, the Seller remits all agreed intermediary commissions as stipulated in the executed NCNDA/IMFPA.