Step 1
Buyer Issues ICPO
The buyer submits an Irrevocable Corporate Purchase Order (ICPO) with company credentials, product specification and quantity requirements.
Transaction Process
Transaction Process
A transparent, step-by-step flow designed to build trust and ensure secure petroleum transactions.
How Transactions Work
Every transaction follows a disciplined process with full documentation at each stage. This structured approach protects all parties and meets the expectations of refineries, financial institutions and strategic partners.
Step 2
Seller Issues SCO / FCO
Upon verification, the seller or mandate holder issues a Soft Corporate Offer (SCO) followed by a Full Corporate Offer (FCO) with complete terms.
Step 3
Contract (SPA) Executed
Both parties execute a Sales Purchase Agreement (SPA) defining product, quantity, price, delivery terms and inspection requirements.
Step 4
Financial Instrument
Buyer places financial instrument — Standby Letter of Credit (SBLC), Documentary Letter of Credit (DLC/LC), or MT103 — as per SPA terms.
Step 5
Product Allocation
Product is allocated and confirmed at the designated storage facility or terminal with supporting documentation.
Step 6
Inspection (SGS)
Independent inspection by SGS, Intertek or equivalent agency verifies product quality, quantity and compliance with contract specifications.
Step 7
Shipment / Delivery
Product is delivered per agreed terms — FOB, CIF, Tank-to-Tank (TTT), Tank-to-Vessel (TTV), or Tank Takeover (TTO).
Financial Instruments & Delivery Methods
SBLC — Standby Letter of Credit
DLC — Documentary Letter of Credit
LC — Letter of Credit
MT103 — SWIFT wire transfer
TTT — Tank-to-Tank transfer
TTV — Tank-to-Vessel loading
TTO — Tank Takeover
Initiate a transaction
Submit your ICPO or inquiry to begin the structured transaction process.