PROCEDURES FOR LEASING OF STORAGE FACILITIES
1. CLIENT to provide an updated corporate profile and business license. CLIENT also to provide a product specification sheet and supplier/refinery/exporter details in full OR a refinery commitment letter.
2. LESSOR will send over a lease agreement and applicable invoice, which shows a commitment to pay within a stipulated time.
3. Client to sign back lease agreement and invoice, confirming his/her commitment to the transaction.
4.Then CLIENT to pay immediately, as per the signed commercial invoice.
5.Once payment has been made, an official bank transfer slip/receipt to be sent to the LESSOR by the CLIENT confirming the same.
6. On receipt of payment to LESSOR’S account, within 36 business hours, a TSR will be provided to the Client by the LESSOR after receiving the NOR from the seller/refinery and injection schedule.
7. LESSOR to open communication with CLIENT’S supplier/refinery/exporter and create an injection schedule.
8.Upon Completion of the reception of the Petroleum Product (FIRST SPLASH) from the pipeline into the Tanks, the Number of Days LESSEE Company paid for start counting as days use for the storage of the Petroleum product.