The physical delivery process established for China’s crude oil 

futures requires the seller to submit to the Exchange a certiflcate 

of origin and bill of lading from the port of loading, a customs 

declaration documented form, the ship’s loading and discharging 

records, and other required information. Information contained 

in these documents must be accurate, without conicts or 

inconsistencies. Furthermore, no overside loading or discharging 

is permitted between the origin and destination in the delivery 

oil depots. The load-in and load-out inspection of futures-related 

commodities shall be conducted by the Designated Inspection 

Agencies in accordance with the inspection standards and 

methods specied in the Inspection Rules of the corresponding 

futures products. Standard warrants will only be issued after 

the crude quality inspection is passed and other documents are 

verified.

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