Procedures as below:

CIF TRANSACTION PROCEDURE

1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) in Sellers name along with banking details and buyers passport copy.

2. Seller issues SPA to Buyer. Within 3 working days Buyer signs seals and returns the SPA to seller for Final Endorsement

3. Seller notarizes the contract, at its own expenses and submits Partial Proof of Product (via email) as follows:
(A)Seller Irrevocable Commitment to Supply
(B) Statement of availability of product
(C) Certificate of origin
(D)Commercial invoice for the first-value shipment.

4. Within 7-10 banking days, Buyers bank sends non-Transferable Irrevocable Operative SBLC via MT760 or DLC via MT700 according to the sellers bank verbiage to sellers nominated bank account for first months shipment.

5. Should buyer fail to issue payment instrument within 7-10 banking days, buyer will make cash deposit of $450,000 (Four Hundred and Fifty Thousand USD) by TT wire transfer for security guarantee to enable seller charter vessel and commence shipment. This payment will be deducted from the total cost of the product after inspection at the discharge port.

6. Seller Issues Full POP Documents to the Buyer alongside with the 2% Performance Bond (PB)
a) Allocation Transaction Passport Code Certificate (ATPCC)
b) Copy of Approval of Export, issued by the Ministry of Justice.
c) Copy of the charter party agreement to transport the product to discharge port.
d) Copy of Vessel Questionnaire 88
e) Copy of Bill of Lading.
f) SGS Report at loading port.
g) Dip test Authorization (DTA) & ATB
1) NOR /ETA
m) Certificate of Ownership Transfer

7. Shipment arrive Within 5-25 days. The SGS inspection will be borne by the Seller at the loading seaport and Buyer at the unloading seaport.

8. Buyer releases payment to Seller by TT/MT103 upon receipt of the shipping documents and confirmation of the Q&Q by SGS/CCIC at destination port.

9. Seller pays commission within 48 hours by swift MT 103 to all intermediaries as signed NCNDA/IMPFA.