TTV SPOT FOB ROTTERDAM, HOUSTON AND SINGAPORE PORT

1. Buyer issues ICPO with Company letterhead containing Refinery working procedure With Banking details scanned copy of Passport data page for Refinery validation.

2. Refinery issues a Commercial Invoice of the product in tanks at the port, and the buyer signs and returns a Commercial Invoice to the Refinery.

3. Upon return of the endorsed CI, Trans Oil Gas, Too releases to the Buyer the following Partial POP documents:
a. Commitment Letter to Supply
b. Certificate of Origin
c. Tank Storage Receipt TSR.
d. Statement of Product Availability
e. Authorization to Verify ATV (Through call or email)
f. Authority to Sell and Collect (ATSC)

4. Buyer contacts the Refinery leased Storage Company through call or email and pays Two (2) day Tank Extension payment to enable Tank Clearance and for the Buyer to gain a port legal access permit to execute a dip test for quantity and quality inspection and fresh inspection / report by SGS Refinery Tanks. (THE TANK FARM WILL ARRANGE THE APPOPRIATE CLEANCE CODES)

5. Upon confirmation of the buyer securing tank clearance and port legal access permit to the product. The Seller issues Unconditional Dip test authorization letter (UDTA), Act of Transfer and Allocation Certificate for the buyer to proceed with the dip test. Buyer and his SGS Inspection team conduct a dip test on the product in Refinery tanks and get their Fresh SGS Report.

6. Upon the satisfactory result of the dip test, Refinery Storage Company issues to Buyer, the Notice of Readiness (NOR) to inject the product out if necessary.

7. The Buyer then makes arrangements to take over the tanks to inject the product into their Vessel.

8. Upon completion of the Injection, the Refinery releases to the buyer the below POP documents.
a. Pipeline Injection Report.
b. Product passport (Analysis Test Report).

9. Refinery /Buyer intermediaries complete and sign NCNDA/IMFPA agreements for processing and commission allocation

10. Upon confirmation of the above pop document by the Buyer they then make Arrangements to pay for the total costs via MT103 for the product injected into the Vessel.

11. Refinery pays all intermediaries involved in the transaction upon receipt of the payment within 48hrs and Transfers the Title of Ownership Certificate of the product to the Buyer.