EN590 refers to a European diesel fuel standard commonly discussed in petroleum product transactions. EN590 transactions often involve buyers, sellers, mandates and intermediaries operating under strict documentation and payment procedures.
Typical Transaction Flow
- Buyer submits enquiry or LOI
- Seller or mandate issues SCO or offer terms
- Buyer reviews product, quantity, price and procedure
- Buyer issues ICPO if ready to proceed
- Seller reviews and may issue FCO or draft SPA
- Parties complete due diligence and agree final contract
- Payment instrument, inspection and delivery follow the contract
Buyer Requirements
Buyers should be ready to provide company information, product requirement, quantity, destination, preferred delivery terms and evidence of purchasing capability where required.
Risk Management
Parties should avoid unrealistic prices, unclear procedures, fake documents, upfront fee pressure and parties who refuse basic verification.
Related: What Is an ICPO? · Common Red Flags