Procedures as below:

FOB DIP AND PAY PROCEDURES (Rotterdam, Houston, Fujairah, Jurong)

1. Buyer accepts sellers working procedure and issues ICPO to the End seller via Sellers representative.

2. Seller issues sales contract, proforma invoice, and corporate profile | CIS, and Buyer signs and returns contract on the due date along with Buyer tank storage agreement.

3. The Seller issues the following PPOP to the buyer for evaluation:
a) ⁠Certificate of quality Conformance (COQC)
b) Commitment to supply
c) Injection programming agreement

4. ⁠Upon receipt of the signed Injection programming agreement between buyers and its storage company confirming readiness to receive the product and engage the injection from Sellers ex-tank to the Buyers Tank, (Stock Transfer). Seller issues injection report, copy of the Q&Q analysis Report, and Unconditional Dip Test Authorization letter to Buyer, Buyer orders SGS, CIQ, or equivalent inspection to conduct Dip Test of the product (Optional) in the Sellers Tank on Buyer’s expense Upon successful Dip Test,

5. Buyer provides their Notice of Readiness to receive the product to buyer’s tank or Vessel, Seller, and buyer coordinate with the injection firm to initiate the injection from Seller Ex tank to Buyers Tank, in situ (Stock Transfer) or Vessel, Seller issues to the Buyer Title holder transfer agreement and NCNDA/IMFPA between all intermediaries involved for commission payment to be signed by the buyer and seller prior to Injection.

6. Upon completion of the injection to the buyer’s tank or Vessel the Buyer makes payment by MT103 TT wire transfer for the total product upon confirmation of the product payment, the seller issues to the buyer the below documents..
a) ATCS
b) COO
c) all export documents.

7. ⁠Seller will release commission payments to the intermediaries involved within three (03) working days of
receiving the Payment for the product from the Buyer’s bank.

8. Seller issues draft Sales and purchase agreement to the buyer to review for twelve (12) monthly contract deliveries with role and extension.

9. Buyer reviews and approves the Sales and purchase agreement and issues Letter of credit, Standby letter of credit, or Documentary letter of credit (non-transferable) auto revolving for 12 months shipment value, for the length of contract and for each lift per schedule.

10. The subsequent delivery shall commence according to the terms and conditions of the contract; Seller pays commissions to all intermediaries as per IMFPA/NCNDA within three (03) working days after receiving the product payment from the buyer.