Procedures for Obtaining a Contract Agreement and Leasing Services

1. Submission of Documentation

• CLIENT Responsibilities: The CLIENT is required to provide the following documentation:
  • An updated corporate profile.
  • A valid business license.
  • A product specification sheet.
  • Complete details of the supplier/refinery/exporter OR a commitment letter from the refinery/supplier.

2. Lease Agreement and Invoice

• LESSOR Responsibilities: The LESSOR will prepare and send the lease agreement along with an applicable invoice, detailing the payment commitment timeline.

3. Confirmation of Agreement

• CLIENT Actions: The CLIENT must sign and return the lease agreement and invoice, thereby confirming their commitment to the transaction.

4. Payment Process

• CLIENT Payment: The CLIENT is required to make payment immediately, in accordance with the signed commercial invoice.

5. Payment Confirmation

• Documentation: Upon payment, the CLIENT must send an official bank transfer slip or receipt to the LESSOR to confirm the transaction.

6. Provision of TANK STORAGE RECEIPT (TSR)

• LESSOR Actions: Upon receipt of the payment in the LESSOR's account, a Tank Storage Receipt (TSR) will be provided to the CLIENT within 36 business hours. This will occur after the LESSOR receives the Notice of Readiness (NOR) from the seller/refinery, along with the injection schedule.

7. Coordination with Supplier/Refinery

• LESSOR Coordination: The LESSOR will initiate communication with the CLIENT's supplier/refinery/exporter to establish an injection schedule.

8. Commencement of Service Days

• Service Activation: The counting of service days will commence upon the completion of the reception of the petroleum product (FIRST SPLASH). The number of days paid for by the LESSEE Company will be utilized for processing.

9. Quality Assurance Inspection

• LESSEE Responsibilities: The LESSEE Company must provide their inspection team for dip test inspection to confirm the quality and quantity of the petroleum product. They may lift the petroleum product at any time during the validity of the days for which the LESSEE Company has paid.