Procedures as below:

1. Buyer issues ICPO must be with buyer company letterhead.

2. Seller issues draft contract (open for any amendments) to buyer. Buyer signs, sealsand returns the draft contract to seller for final endorsement. Seller gives partial proof of products.
(a) seller irrevocable commitment to supply
(b) statement ofavailability of product
(c) certificate of origin
(d) commercial invoice for the first value shipment.

3. Within 7 banking days, buyers bank sends irrevocable operative sblc via MT760 or dlc via MT700 according to seller’s fiduciary bank verbiage to seller nominated fiduciary offshore bankaccount for first month shipment. Should buyer failto issue payment instrument within 7 banking days, buyer will make cash deposit of $320,000 usd bytt wire transfer for security guarantee to enable seller charter vesseland commence shipment, and this payment will be deducted from the total cost of productafter inspectionat discharge port, or legalaction will be takenagainst buyer for default.

4. Seller’s bank issues full POP documents to the buyer’s bankalongside with 2% performance bond (PB 2%).
A) copy of license to export, issued bythe department of the ministry of energy, russian federation.
B) copy of statement of availability of the product.
C) copy of the refinery commitment to produce the product.
D) copy of the charter partyagreement to transport the product to discharge port.
E) copy of vessel questionnaire 88
F) copy of bill of lading.
G) product passport Q & Q
H) NOR/ETA
I) allocation transaction passport code certificate (ATPCC) by ministry of energy.

5. Shipment commencesas per signed contract delivery schedule, seller issues certificate of owner ship transfer and the shipment should arrive at buyer’s discharge port within 5-24 days. The SGS inspection will be borne by the seller at the loading seaport and buyer at the unloading seaport.

6. Buyer makes payment for the total products via MT103, seller confirm and paid all intermediaries.