Revised 10/08/2018
Acronyms A-Z
FOBs & CIFs
ATCV: Authorization to Call & Verify
ATI: Tank Farm Storage Authorization (Letter to Inject)
ATSC: Authorization to Sell and Collect
ATSCC: Authorization to Sell and Collect Certificate
ATV: Authorization to (Physically) Verify
BPG: Bank Performance Guarantee
CI: Commercial Invoice
CIF: Cost, Insurance and Freight
CIQ: Certificate of Quality (Inspection)
COO: Certificate of Origin
CP: Corporate Profile
CPA: Charter Party Agreement
DLC: Documentary Letter of Credit
DTA (Unconditional): Dip Test Authorization
DTAR: Dip Test Analysis Report
FOB: Freight On Board
FCO: Full Corporate Offer
ICPO: Irrevocable Corporate Purchase Offer
IDLC or IRDLC: Irrevocable Documentary Letter of Credit
IMFPA: Irrevocable Master Fee Payment Agreement
IPOP: Initial Proof of Product
IR: Injection Report / Initial Readiness (2)
LOI: Letter of Indemnity
M.O.U: Memorandum of Understanding
MOJ: Ministry of Justice
MT 103/MT 760: Bank Wire Transfer Procedures
NCNDA: Non-Circumvention Non-Disclosure Agreement
NOR: Notice of Readiness – to commence injection into Buyer’s tanks
PIR: Pre-Injection Report
POD: Proof of Documents
POF: Proof of Funds
POP: Proof of Product
Full POP: Full Proof of Product
PPOP: Partial Proof of Product
Q&Q: Quantity & Quality (Product Passport)
Q88: INTERTANKO’S Standard Tanker Chartering Questionnaire
R & E: Rollover and Extensions Contract
RFQL: Request for Quote
RWA: Ready, Willing, and Financially able to Pay
SBLC: Standby Bank Letter of Credit
SCO: Soft Corporate Offer
SGS: Certificate of Inspection
SPA: Sales Purchase Agreement
T/T: Wired Funds
TDLC: Transferable Documentary Letter of Credit
TSA: Tank Storage Agreement
TSR: Tank Storage Receipt
TTM: Table Top Meeting
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