SOFT CORPORATE OFFER

REFINERY SELLING PROCEDURES FOB ROTTERDAM / HOUSTON:

1. Buyer sends ICPO in line with seller working procedures alongside his / her Tank Storage Agreement (TSA) on receipt and acceptance of Seller's Soft Offer;
2. Seller issues Commercial Invoice (CI), Buyer Signs within 24 hours and returns to Seller Within its validity.
3. Upon receipt and review of the signed CI, seller issues Dip Test Authorization (DTA) to be completed and signed by buyer and buyer Logistics Company in order for Dip Test to be conducted alongside counter signed copies of the CI
4. Buyer returns the Dip Test Authorization(DTA) fully completed and signed within its validity and upon successful review of the completed DTA, seller issues the below full POP documents:

• Fresh SGS Report (Not older than 72 hours);
• Product Reservoir Receipt;
• Accreditation Certificate;
• Product Passport (Quantity and Quality Analysis);
• Authorization to Sell and Collect Certificate (ATSCC);
• Pre-Injection Report (PIR);
• NCNDA / IMFPA (To be completed by all intermediaries);
• Certificate of Product Origin;
• Authority to Verify (ATV) either physically or otherwise.

5. Upon receipt and confirmation of the above POP Documents, Buyer provides its testing officials (SGS or INTERTEK) and the needed test are carried out on the product in seller's tanks.
6. Buyer upon successful Dip Test makes full payment by MT103 / TT wire transfer for the total product and Seller pays commission to all intermediaries involved in the transaction within 24hours after confirmation of buyer's payment and injection commences immediately.
7. Seller issues a contract for buyer's desired duration upon successful completion of the trial order.

DIRECT INJECTION FROM REFINERY RESERVIOR TO TANK

1. Seller Issue Soft Corporate Offer (SCO) for buyer Review and Acceptance.
2. Buyer issue Irrevocable Confirmation Purchase Order (ICPO), Company Certificate of Registration and Import License, data page of buyer’s passport.
3. Seller Issue Commercial Invoice for the available quantity of product in seller’s tank. Buyer signs and return back to seller signed and sealed Commercial Invoice and TSA as a proof of buyer's availability of storage facility.
4. Seller issue to buyer the NOR (Notice of Readiness) to commence the Injection of the product.
5. Buyer provide to Seller Authority to Verify tank physical (ATV.) from his tank farm.
6. Seller pays buyer’s Logistic Company for 4 days’ tank lease. After seller payment confirmation by buyer tank farm, buyer pay 3 days in order to get 7days TSR and submit it to seller for injection to commence into buyer tank
7. Seller moves the fuel from refinery reservoir and injects fuel to buyer tank in ROTTERDAM and furnish Buyer with the following:

• Fresh SGS Report.
• Pipeline Injection Report.
• Refinery Reservoir Receipt.
• Certificate of Origin.
• Certificate of Ownership.
• Dip Test Authorization Letter. (DTA)
• Authorization to Sell and Collect (ATSC)

8. Buyer Successful Q&Q Dip Test on the product, Buyer makes the payment for the Total Value of the Product Injected into the Tanks Through the means of MT103-TT.
9. Upon Seller Receipt of the Payment for the Product from the buyer, Seller issue to Buyer the Title Ownership of the product and all Exporting Document of the product.
10. Buyer Lift the product with its Vessel Tanker.
11. Seller pays commissions to all intermediaries involve in the transaction according to the signed NCNDA/IMFPA

FOB PROCEDURE ROTTERDAM/HOUSTON (3)

1. Buyer accepts seller-working procedure and issues ICPO addressed to the seller refinery
2. Seller issues commercial invoice (CI), buyer signs and returns back commercial invoice.
3. Seller provides buyer with the below listed PPOP.

• Tank storage Reservoir Receipt (TSR)
• SGS Report Conducted at the loading port
• Product Passport Quality and Quantity Analytical Report
• Authority to sell and collect (ATSC)
• Statement of Product availability
• ICC Warning Letter
• DTA

4. Upon receipt of the endorse DTA buyer extend seller tank and upon confirmation of buyer extended tank, seller conduct fresh SGS (A DAY OLD) and present the result to buyer for verification.
5. Buyer confirm SGS and release payment of the product by MT 103 Seller changes the title of ownership.
6. Seller pay commissions to all intermediaries involved as per IMFPA signed between Seller and Beneficiary Paymaster

CIF ASWP APPROVED STANDARD BANKING WORKING PROCEDURES

1. Buyer confirms SCO and issues an official ICPO inserting seller’s terms and procedures.
2. Seller issues FCO for buyer’s signing, buyer returns signed FCO and a letter of procedures acceptance.
3. Seller issues draft contract/SPA which is open for amendments. Buyer returns the signed draft contract along with NCNDA/IMFPA and a letter of guarantee to perform.
4. Seller sends the registered/legalized contract with the below listed partial POP documents to buyer.

• statement of availability of product.
• commitment to supply the product.
• certificate of origin.
• analysis test result (product passport).

5. Upon confirmation of the above POP document, Seller and buyer proceed and sign an Escrow Agreement with a mutually agreed Escrow company and the both parties proceed with the 5% payment to the Escrow account via MT103/ TT wire transfer, as guarantee that both parties will not default from the transaction.
6. Seller bank issues the full set of proof of product (POP) and shipping documents via swift to buyer bank.
7. Buyer within 7 banking days’ issues DLC swift MT700 or SBLC swift MT760 according to Seller's fiduciary bank verbiage to seller nominated fiduciary offshore bank account for first month shipment.
8. Seller issue 2%PB (Performance Bond) to activate buyer DLC/SBLC.
9. Shipment commences immediately as scheduled in the contract.
10. Buyer pays for the total product value via TT/MT103 to the seller's bank after successful SGS/CIQ inspection at discharge port and tittle of product ownership transferred to buyer.
11. Seller pays all intermediaries involved in transaction as per signed NCNDA/IMFPA within 72 hours.

TRANSACTION PROCEDURES FOR TANKER TAKE OVER

1. Buyer issue ICPO with banking details
2. Seller issues complete tanker take over draft contract of the loaded cargo
3. Buyer signs TTO draft contract and return to the seller
4. Seller endorse TTO contract, sellers ends to buyer, the following pop documents which we reissued in
the initial buyer’s name via email

• Certificate of product origin
• Product passport (quantity & quality dip test analysis report)
• Bill of lading
• Tanker vessel Q88 document
• A.T.A. (estimated time of arrival) of vessel
• Ullage report
• Freight/cargo manifest
• Invoice

5. Buyer confirms and verifies the pop documents and issue TT MT103 payment for the minimum of 5% of the total value of the product to seller nominated account, to obtain certificate of ownership of the cargo and the shipping document will be re-issued in the name of the potential buyer. Seller will re-route the vessel to buyer's destination port upon confirmation of buyer's payment and sends to buyer the information clearing agent for the vessel simultaneously and the 5% will be deducted from the total cost of the product.
6. Upon arrival of the vessel at the buyer's discharge port, the buyer verifies the product, performs dip Test on board seller’s vessel and pays for the product via TT MT103 before CIQ and discharge of the vessel.
7. Seller out pays the intermediaries involved within 72 hours after receipt of payment of the product from the buyer.