Our suppliers standard operating procedures

Why seller wants you issue TSR (TANK STORAGE RECEIPT)?
Real buyers prioritize having their logistics in place as tank farm assignments can take up to 30 days. Genuine buyers understand that products don't wait, ensuring they not only have a Tank Storage Agreement (TSA) but also an active Tank Storage Receipt (TSR). In case of payment failure after a transaction attempt, the tank farm retains the option to refund or issue a credit, safeguarding the buyer's funds. Occasionally, tank farms may offer slight tax discounts, typically stated towards the end of the contract.
For substantial transactions exceeding $100 million per shipment, having a tank farm ready is mandatory for timely logistics. In summary, TSA is cost-free, while TSR incurs a cost but is not lost money for genuine buyers. This underscores that only authentic buyers have effective logistics in place.
Furthermore, ports often require the buyer's tank farm to sign the Notice of Readiness (NOR) or Dip Test Authorization (DTA) to permit access for the dip test. These requirements serve to prevent intermediaries (flippers) from manipulating transactions solely by dealing with paperwork.

1. Buyer issues ICPO with Tank Storage Agreement (TSA)
2. Seller issues commercial invoice (C.I) for the available quantity and
3. quality in the storage tank.
4. Buyer signs and returns the commercial invoice with NCNDA/IMFPA
5. signed by all buyer groups with commission structures.
6. Buyer provides Authorization to Verify (ATV) from their storage tank farm with with GPS COORDINATES, TERMINAL HUB NUMBER AND TERMINAL ACCESS CODE (active TSR)

to enable seller logistic teams verify buyer tank farm, after the verification is completed, seller proceed to issuing the following documents:

1. a) Unconditional Dip Test Authorization (DTA).
2. b) Fresh 48 HOURS SGS Report.
3. c) Injection Report Shore Tank
4. d) Authorization to Sell and Collect (ATSC)
5. e) (ATV) Authorization to Verify.
6. f) Certificate of Incorporation
7. g) Product Quality Passport
8. h) Statement of Product Availability
9. i) Certificate of Origin of the Product
10. j) Commitment and Assurance Letter to Supply
11. k) NOR (Notification of Readiness)
12. l) Tank Storage Receipt (TSR)
13. Buyer upon verification of the product and POP confirmation, order SGS to conduct the dip test on buyer expense and physical verification of the product.
14. Seller commences injection immediately into buyer tank and "issues buyer title of ownership certificate to be followed by all export documentations.
15. Buyer makes payment by MT103 or TT wire transfer for the total product and lifts the product and seller pays all intermediary involve in the transaction.