1. Buyers issues Irrevocable Corporate Purchase Order (ICPO) addressed to the Seller Refinery along with company profile and buyer passport.

2. Seller issues the draft SPA for buyers review and signing

3. Buyer’s bank issues MT199 Pre-Advice to seller’s nominated bank informing readiness to issue agreed Financial Instrument SBLC MT760

4: Seller legalizes and registers the contracts with insurance companies and notarizes it with the appropriate Authorities of the ministry of energy along with the below
PPOP document.
A. Product Quality Passport-Quality Certificate.
B. Certificate of Product Origin.
C. Product availability
D. Commitment letter to supply the product from Ministry of Energy.

5. Upon Buyers bank issues MT199/MT799 to sellers nominated bank, Buyers bank in accordance with sellers verbiage shall issue an Operative SBLC within six (6) working days for first shipments value to sellers financial bank to enable seller commence loading of product with the shipping company. Seller to finalize loading within six (6) working days. But if the buyer fails to issue SBLC MT760 within six (6) working days, as an alternative provision buyer pays $350,000 to seller nominated Fiduciary Bank within seven days, which will be deducted from the products invoice value of product at destination port.

6. After confirmation by seller’s bank, seller at own expense, charters with shipping/logistic company and alert buyer on shipment ordered graphic/schedule
accompanied with submission of nominated Vessel details to buyer.

7. Sellers bank responds with contractual operative 2% PB and full POP to buyers bank within seventy -Two (72) hours since buyer’s instrument confirmed by sellers bank.
a) Copy of the Port Storage Agreement.
b) Copy of the CPA, to Transport the Product to Discharge Port.
c) Vessel Q88.
d) Original BL (full set).
e) Copy of SGS Report.

8. Upon successful product confirmation against SGS/CIQ Report of Quality and Quantity at destination port, buyer makes payment by MT103. 8 Seller and buyer, within seventy-two (72) hours, seller pays commissions to seller side and buyer pays buyer side intermediaries involved in the transaction.