1. Buyer sends ICPO to Refrachem (Mandate Company) with the stated procedure.

2. Refrachem will endorse the ICPO to end seller.

3. Buyer provides POF to seller via swift MT199 to demonstrate buyer capability to execute the transaction. (See format on Annex B)

4. Buyer and Seller signs SPA accordingly.

5. Seller will provide all related Cargo document and cargo NOR (notice of readiness) for Seller to transfer the Cargo as required;

6. Seller will invite Buyer to board Ship and conduct Dip Test on buyer’s cost.

7. After successful result of Dip Test, buyer shall provide Import License and Tank Storage Agreement (TSA) for “STT” transfer or Q88 for “STS” transfer.

8. Buyer pays commodity via MT103

9. Seller Injects commodity on Seller’s Tank or Vessel