TTT TRANSACTION PROCEDURES.

1. Buyer sends ICPO to Seller, with CIS, passport, TSA.

2. Seller issues to Buyer:
Commercial Invoice Cl, for the available quantity
Certificate of Incorporation
Certificate of Origin
Commitment Letter to Supply
Statement of Product Availability to supply
ATSC

3. Buyer, Buyer Signs and returns to Seller with NCNDA/IMFPA signed by all buyer groups with commission structures.

4. Seller issues to Buyer Tank extension payment invoice for the minimum of 5 days, and also PB amount equal to tank extension fee, then Buyer proceed with Tank payment extension and return transfer evidence copy. (*NOTE 1- The buyer shall arrange payment of the tank extension fee only after receiving the seller's performance bond.)

5. Seller issues Dip Test Authorization letter sign by all parties including buyer and Seller only.

6. Upon the signing of DTA by all parties Seller and Buyer, Seller issues to Buyer.
a) Fresh SGS Report,
b) Tank receipt,
c) Injection Report,
d) Export License,
e) Refinery Reservoir Receipt

7. Buyer order SGS to Conduct Dip test of the product in the Seller Tank on buyer expense upon successful dip test, Buyer provides Tank details, Seller shall immediately submit the (SGS) inspection Report along with the full Proof of Product (POP) to the Buyer.

8. Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller pays Commission to all intermediaries involved in the transaction within 24 hours after confirmation of the Buyer Payment.

9. The Seller issues annual (12 months) delivery contract for review and acceptance.


NOTE 1: The seller shall issue a performance bond (MT 760) equal to the amount of the tank extension fee at the same time as issuing the receipt for the tank extension fee. The buyer shall arrange payment of the tank extension fee only after receiving the seller's performance bond.