Petroleum Transaction Procedure

01 / Qualify the requirement

Identify the buyer, intended use, product specification, quantity, destination and delivery window. Clarify which party is the principal and which acts as an intermediary. Resolve missing information before circulating an offer.

02 / Verify identity and authority

Review company records, signatory authority and ownership information through suitable channels. Confirm the seller’s right to sell and any mandate authorization. Verification should be mutual and proportionate to the proposed transaction.

03 / Review the offer and contract

Align the commercial offer and sale and purchase agreement on grade, quantity, price, delivery, inspection, payment, title, risk, claims and dispute provisions. Have the parties’ banks assess proposed payment instruments before accepting instrument language.

04 / Confirm operating readiness

Establish terminal and vessel acceptance, loading windows and inspection arrangements. Agree the document release sequence and operational contacts. Read the logistics checklist for responsibilities that need an owner.

05 / Inspect, deliver and settle

Execute the agreed sampling and quantity controls, document delivery and follow the contracted payment milestones. Independently confirm changes to bank or release instructions. Do not treat a forwarded report as proof that all delivery obligations have been satisfied.

06 / Reconcile and retain records

Reconcile quantity, quality, invoices and claims against the contract. Record any agreed amendments and maintain controlled records for the applicable retention period. A completed movement should leave a traceable commercial and operational record.

A considered path from inquiry to delivery.