STANDARD VESSEL TO TANK – (VTT) TRANSACTION PROCEDURE
1. Buyer issues Purchase Order with their valid TSA Agreement for verification and approval.
2. Refinery issue issues MOU for buyer's review and signing.
3. Refinery issues to Buyer the allocated vessel Bill of Laden (to confirm the details of the
Vessel as well as the product in the vessel).
4. Buyer submits their TSR (TSR must be issued under Refinery name as supplier).
5. Refinery issues the Proof of Product documents in Buyer Company’s name as listed below after
Buyer submits their TSR (TSR must be issued under Refinery name as supplier).
• Certificate of Origin.
• Product quality passport (Analysis test Report)
• Commitment to Supply.
• ATSC
• Cargo Manifest.
• Vessel Q88.
• Shipping Document.
4. Upon receipt of the POP documents, Refinery will instruct the vessel master to
re-route the vessel tanker final destination to the Buyer’s VTT location.
5. Refinery and Buyer signs the title transfer affidavit and the title ownership certificate is issued
In the Buyer’s Company name.
6. Refinery instruct vessel master to countersign the shipping agent Power of Attorney and
proceed to send the complete set of maritime and shipping documents to enable the buyer
shipping agent file for maritime report and make all preparation to receive the vessel tanker
at the destination port terminal.
7. Refinery will provide to Buyer the following documents:
I Master Authority to Board (MATB)
II. Authority to Verify (ATV)
III. Unconditional Dip Test Authority (UDTA) and allow the Buyer & his inspection team
to board the vessel at VTT anchorage and conduct inspection, upon arrival of the vessel
tanker at the destination port and completion of CIQ / SGS Inspection.8. Buyer pays for full cargo value via MT103/TT Wire within 48 Hours, (Note: After successful inspection,
Refinery injects the product to Buyer’s tank & Buyer pays 100% for product injected by MT103/TT)
9. Refinery pays the intermediaries involved within 72 hours after receipt of payment of the product
from the buyer.
10. Buyer and Refinery sign supply contract and R&E