1. LOI + Buyer provides company website or Corp profile. Buyer bank provides tear-sheet to show capacity, or Seller can arrange Seller’s banking with same as Buyer bank to facilitate capability confirmation as soft probe.
2. Titleholder responds with their Processing Agreement with refinery showing they are the title holder on product.
3. Buyer puts an ADMINISTRATIVE HOLD (please note that this IS NOT AN INSTRUMENT) for one week's lift at their bank.
4. Titleholder responds, bank to bank, almost simultaneously, with FULL POP.
5. Buyer receives product in its tanks at Rotterdam within 2-5 business days and pays for product after a successful DIP TEST.
6. After a successful transaction, buyer can request a 12 month contract.