About Us
OUR STORY
IBAA LIMITED 2014-2023
IBAA limited is a fast paced company deeply integrated in the supplies & the sale of fuels, ores, gas, metals and industrial chemicals to the worldwide market. The company’s main focus is on the supply of oil products, petroleum and petrochemical products, sugar, industrial chemicals, which constitutes to their appropriate standard of production both in specification and composition.
The UK-based commodity trading group IBAA also has offices in Sudan and Dubai.In order to give quick access to high-quality oil products throughout Europe, the Middle East, South East Asia, and Africa, the company has assembled a knowledgeable team of seasoned professionals.
In order to ensure that their expectations are satisfied through professional operations, we apply the highest industry standards to every link of our supply chain while keeping our primary attention on our clients.We serve a wide range of clients, including national oil producers, significant oil firms, significant trading houses, and individual traders, with high-quality and effective services.
Our team’s apply the highest industry standards to every link of our supply chain while keeping our primary attention on our clients.We serve a wide range of clients, including national oil producers, significant oil firms, significant trading houses, and individual traders, with high-quality and effective services.
TRANSACTION WORKING PROCEDURES FOB ROTTERDAM / HOUSTON / FUJAIRAH & SINGAPORE)
1. Seller issues FCO with the agreed procedure and sends it to the buyer.
2. Buyer, amend and accept the official FCO by signing and sending to the seller and provide his RWA (Ready & willing, and able) along with banking details.
3. Seller issues commercial invoice of the product in tanks at the port, buyer signs and returns the signed commercial invoice IC along with an acceptance letter.
4. Seller issues a copy of fresh SGS report (not less than 24 hours) to buyer tank farm Company only to verify the SGS report.
5. Upon confirmation of the successful verification of SGS report by buyer tank farm.
6. Buyer’s company provides a valid tank storage receipt from its logistics company to the seller to proceed with the injection of fuel into the buyer's leased tank for a minimum of 3 working days.
7. Seller issues following pop documents to buyer, buyer conducts dip test on the product and makes the payment for the total value of product injected into the tanks through the means of MT103-TT.
A) Fresh Q&Q report.
B) Injection report.
C) Unconditional dip test authorization letter (DTA).
D) Authorization to sell and collect (ATSC).
E) Fresh SGS report.
F) Authorization to verify the product in the seller's tank (ATV).
8. Seller pays all intermediaries involved in the transaction and subsequently monthly shipments continue as per terms and conditions of the sales and purchase contract between buyer and seller.