reference section

acronyms

  

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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