The Buyer Readiness Checklist

Are you actually ready to buy EN590 or Jet A1? Bank, ICPO, SPA, Logistics, SGS, Title Transfer — everything you need to pass the first test.

Introduction — Why Most Buyers Fail Before Lifting

Every week, hundreds of potential buyers approach EN590 and Jet A1 sellers. Yet the majority fail before even lifting one barrel. The reason is simple: they are not fully prepared. In fuel trading, success is determined by readiness — not ambition.

This checklist breaks down every element a serious buyer must master to avoid delays, rejection, or financial loss.

1. Bank Verification — The Foundation of Credibility

Sellers, terminals, and inspectors will always check your banking capability first. Without a bank that can issue clean instruments and verify funds, your deal is unlikely to proceed.

• Have a verified bank that is recognized internationally.
• Ensure your account can issue ICPO, SBLC, or MT799 as required.
• Confirm that bank letters are recent, valid, and unaltered.

Tip: Sellers reject 90% of buyers at this stage because of unverified or low-limit accounts.

2. ICPO — Irreversible Intent

The Irrevocable Corporate Purchase Order (ICPO) demonstrates your seriousness. But not all ICPOs are treated equally.

• Must be on company letterhead with clear buyer information.
• Include product specifications (EN590, Jet A1), volume, and delivery terms.
• Bank must confirm ability to fund the transaction.

A sloppy or incomplete ICPO is the fastest way to be ignored or blacklisted.

3. SPA — Contract Alignment

The Sales and Purchase Agreement (SPA) defines the legal framework. Many buyers underestimate its importance.

• Ensure all terms match your ICPO and bank capabilities.
• Understand Q&Q clauses (Quality, Quantity, Title Transfer).
• Align payment conditions, delivery point, and inspection protocols.

Tip: A well-prepared SPA eliminates disputes before lifting.

4. Logistics Readiness — TTT, TTV, CIF

Sellers need assurance that you can lift and transport the product safely.

• Have vetted vessels or trucks ready if TTV or TTT applies.
• Confirm port access, berthing rights, and terminal acceptance.
• Ensure insurance coverage for demurrage, spillage, or transit.

Without logistics in place, even a fully bank-verified buyer can be rejected.

5. SGS / Intertek Inspection — Facts, Not Guarantees

Inspection proves fuel exists and meets specs. But it does not replace SPA or title transfer.

• Agree on inspection location, timing, and scope in advance.
• Understand how SGS or Intertek reports are issued and shared.
• Ensure that both parties recognize the inspector’s authority.

Mismanaged inspections are the most common post-ICPO deal killers.

6. Title Transfer — Legal Ownership

Title transfer is the final step that allows you to legally claim the product.

• Verify when and where title transfers (TTT, TTV, CIF, FOB).
• Ensure SPA terms match bank instruments to trigger transfer.
• Understand that SGS confirms facts — it does not transfer ownership.

Tip: Misaligned title transfer clauses destroy deals even if the fuel exists.

7. Risk Management — Avoiding Common Pitfalls

Even prepared buyers can fail if they ignore operational and financial risk.

• Check counterparty credibility and past lifting history.
• Verify terminal and vessel readiness before committing.
• Never share unverified bank information or request illegal POP.
• Confirm insurance coverage for transit and storage.

Preparation is the difference between a smooth lift and a failed transaction.

8. Final Readiness Checklist

Before submitting ICPO or SPA, confirm you have:

• Verified bank capable of issuing instruments
• Clean, accurate, and professional ICPO
• SPA aligned with ICPO, logistics, and inspection terms
• Logistics plan for TTT/TTV/CIF, including insurance
• Inspection plan with SGS / Intertek or equivalent
• Clear understanding of title transfer and triggers
• Operational and financial risk mitigation in place

FAQ — Buyer Readiness Explained

1. Can I start lifting without a bank?
   No — sellers require verified funding.
2. Do I need SGS before SPA?
   No — inspection confirms facts post-SPA.
3. Is TTV easier than TTT?
   No — TTV adds operational risk and legal complexity.
4. What if I fail one element?
   The deal will likely collapse — all six pillars must be in place.
5. How do I prove readiness to sellers?
   Professional ICPO, bank verification, SPA alignment, and logistics proof.

Conclusion — Readiness Wins Deals

In EN590 and Jet A1 trading, ambition alone does not close deals. Prepared buyers who align bank, ICPO, SPA, logistics, inspection, and title transfer are the ones who succeed.

Use this checklist to pass the first gate — before chasing POP, brokers, or shortcuts.