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Valid till: 30th November 2020 To: Who it may concern Attn: Buyer/ Principal mandate "As an official mandate to a Worthy of reliance refinery here in Russian Federation with corporate and legal responsibility, under penalty of perjury confirms that we are ready, willing and able to supply the following petroleum products with terms and procedure stated below: Inspection--------------------------SGS, CIQ or Similar at loading Port Payment Terms------------------- MT760, , BG, MT103 T/T COMMODITIES DUE TO CURRENT GLOBAL MARKET PRODUCT PRICE UNCERTAINTY AND FLUNCTUATION PRICES ARE SUBJECT TO NEGOTIATION AND CHANGE RUSSIA D2 GAS OIL GOST305-82 QUANTITY: 50,000MT– 1,000,000MT FOB PRICE: $110 GROSS/$100 NET. CIF PRICE: $130 GROSS/$120 NET. MAZUT M100 GOST– 10585-99 RUSSIAN ORIGIN QUANTITY: 50,000MT- 1,000,000MT FOB PRICE: $110 GROSS/$100 NET. CIF PRICE: $130 GROSS/$120 NET. BITUMEN GRADES: 40/50, 60/70 AND 80/100 MINIMUM QUANTITY: 50,000 METRIC TONS PER MONTH MAXIMUM QUANTITY: 200,000 METRIC TONS PER MONTH CIF PRICE: GROSS USD $ 120.00/ USD $ 110.00 NET ON CIF /ASWP FOB PRICE: GROSS USD $100.00 USD $ 90.00 NET ON FOB / ASW AVIATION KEROSENE COLONIAL GRADE 54 QUANTITY: 500,000BBLS - 10,000,000BBLS FOB PRICE: $32 GROSS/$28 NET. CIF PRICE: $ 48 GROSS/$44 NET. LIQUEFIED NATURAL GAS.GOST5542-87 QUANTITY: 50,000MT- 500,000MT FOB PRICE: $100 GROSS/$90 NET. CIF PRICE: $120 GROSS/$110 NET. JET FUEL A1 91/91 QUANTITY: 500,000BBLS– 10,000,000BBLS FOB PRICE: $32 GROSS/$28 NET. CIF PRICE: $ 48 GROSS/$44 NET RUSSIA VIRGIN FUEL D6 QUANTITY: 100,000,000 -800,000,000 GALLONS FOB PRICE: GROSS $0.32 USD / NET $0.30 USD CIF PRICE: GROSS $0.55 USD / NET $0.53 USD AUTOMOTIVE GAS OIL QUANTITY: 50,000MT– 1,000,000MT FOB PRICE: $110 GROSS/$100 NET. CIF PRICE: $190 GROSS/$180 NET. 3 UREA 45%PRILLED & GRANULAR (RUSSIAN ORIGIN) QUANTITY: 50,000 – 1,200,000 MT CIF PRICE: GROSS $ 200.00 USD/$ 190 .00 USD NET DIESEL FUEL EN 590 (ULSD 10 PPM) QUANTITY: 50,000 -1,000,000MT FOB PRICE: $290 GROSS/ $280 NET CIF PRICE: $310 GROSS/ $300 NET RUSSIAN LIQUIDIFIED PETROLEUM GAS [LPG] GOST: 20448 - 90 QUANTITY: 50,000 - 500,000 MT CIF PRICE: GROSS 200 USD/ NET 190 USD. FOB PRICE: GROSS 110 USD/ NET 100 USD PET COKE MINIMUM QUANTITY: 50,000 MT – 1,000,000 MT CIF/FOB PRICE: GROSS $ 48.00 USD/$ 38 .00 USD NET BASE OIL. SN 100 - $220 GROSS / 210 NET BS 150 - $240 GROSS / 230 NET SN150 - $230 GROSS / 220 NET SN 300 - $260 GROSS / 250 NET SN 500 - $240 GROSS / 230 NET RUSSIA EXPORT BLEND CRUDE GOST: 51858-2002 QUANTITY: FROM 500,000 -5,000,000 BARRELS CIF PRICE: GROSS 32 USD / NET 28 USD FOB PRICE: GROSS $28 USD GROSS/ NET $24 USD. GASOTANE RUSSIAN ORIGINS AND 89 QUANTITY: 50,000 MT – 500,000MT CIF PRICE: USD 210GROSS / USD 200NET FOB PRICE: GROSS 148 USD/ NET 138 USD. 87 OCTANES - PRICE: $210 GROSS/ $200 NET PER MT 95 OCTANE - PRICE: $148 GROSS/ $138NET PER MT 4 DIESEL ULTRA-LOW SULR (ULSD 500 PPM) QUANTITY: 50.000 - 1.000.000 MT FOB PRICE: $190 GROSS/ $180NET PER MT CIF PRICE: $210GROSS/ $200 NET PER MT UREA 46% PRILLED & GRANULAR (RUSSIAN ORIGIN) AVAILABLE QUANTITY: 50,000-1,000,000 METRIC TONS CIF PRICE: GROSS USD 200$/ NET USD 190$. DESTINATION PORT: ROTTERDAM DAP FERTILIZER (RUSSIAN ORIGIN) AVAILABLE QUANTITY: 50,000-1,000,000 METRIC TONS PRICE: GROSS USD 190$/ NET USD 180$. RUSSIAN EASTERN SIBERIAN PIPEN OIL (ESPO) MINIMUM QUANTITY: 100,000 BARRELS MAXIMUM QUANTITY: 300,000 MT MONTHLY PRICE CIF: GROSS $32 USD/NET $28 USD PRICE FOB: GROSS $27 USD/NET $23 USD RUSSIAN LIGHT CYCLE OIL (LCO) MINIMUM QUANTITY: BUYER REQUEST NOT LESS THAN 50,000 MT MAXIMUM QUANTITY: 200,000 MT MONTHLY PRICE CIF: GROSS $200 USD/NET $190 USD PRICE FOB: GROSS $110 USD/NET $100USD SPECIFICATIONS: STANDARD EXPORT QUALITY. Delivery: FOB ROTTERDAM, CIF ASWP. Payment: MT760/MT103/23 Telegrac Transfer. Contract: 12 Months with possible rollovers and Extension / Spot. Inspection: SGS or similar by Seller. 5 OFFICIAL (SPOT) FOB PROCEDURE 1. Buyer sends ICPO with statement of that buyer intends to and agrees to pay 5 days Seller Tank Extension via MT103TT when Tank Storage Invoice is issued. 2. Seller issues Commercial Invoice (CI), for the available quantity in the tank storage to buyer, Along with the Invoice for Tank Storage Extension issued by the storage company. Buyer signs, seals and returns the CI to Seller with scan passport copy, commission structures signed by all Buyer groups. Buyer also issues MT103TT to pay for 5days Tank Storage Extension and pay 5 days Tank Extension Fee immediately via the issued MT103TT to the storage company. 3. Seller issues the PPOPS of DTA, Fresh SGS Report, Seller’s TSR, ATV and ATS to Buyer immediately upon Seller’s confirmation of the receipt of the Tank Storage Extension Fee via MT103TT ed, as below: *DTA (Dip Test Authorization) *Fresh SGS Report *Seller’s TSR (Tank Storage Receipt) *ATV (Authorization to Verify) *ATS (Authorization to Sell) *And Buyer orders SGS or Equivalent to conduct the Dip Test of the Products in the Seller’s Tank Storage on Buyer’s expense. 4. Upon successful Dip test, Buyer provides Vessel details or Tank details, Seller shall immediately submit the SGS inspection report along with the full Proof of Products (POP) to the Buyer. 5.Buyer makes 100% payment by MT103TT for the total products and Seller or Seller Mandate pays Commissions and the Matters discussed with the Seller Mandate to all intermediaries involved in the transaction within 24 hours after Seller’s Confirmation of the Buyer’s Full Payment. NON-NEGOTIABLE TTO PROCEDURES: 1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) 2. Seller issues the Takeover of contract addendum for review and endorsement by all parties 3. Seller issues Proof of Product and Shipping documents as listed below: • Freight Cargo Manifest • Ocean Bill of Lading • Certificate of Origin • Certificate of Quantity • Vessel Q88 • Vessel Ullage Report • Commitment Letter 4. Upon receipt of the above documents by the buyer, buyer makes payment for the Title Transfer Fee which amounts to $586,000.00 via direct T/T directly to the refinery. 5. Upon receipt of the above payment, the Change Of Title Ownership Affidavit will be issued for all parties endorsement and upon signing of the affidavit, the Ownership Certificate will be issued and all Proof Of Product and shipping documents will be changed to the current buyers name and sent to the buyer alongside the SGS Report at the loading port while the course of the vessel will be rerouted to the current buyer’s discharge port. TERMS & TRANSACTION PROCEDURES TTM 1. Buyer issue legal ICPO + Company profile + Buyer passport. 2. Title Holder confirms Buyer Documents and issue confirmation Letter to confirm. 3. Buyer visit Title Holder administrative office for TTM (Face to Face) meeting to sign SPA & CI and get POP. 4. Buyer conduct DIP TEST at Title Holder Tanks (Buyer borne for the SGS) and submit his carrier information (CPA). 5. Upon SGS report + POP confirmed by the Buyer, Buyer issue 30% payment MT 103 / TT to Title Holder account. 6. Seller inject to buyer's tank or vessel; buyer confirm loading or injection and remit balance 70%. 7. Buyer lift product to their own destination OFFICIAL TRANSACTION PROCEDURES ON CIF: 1. Buyer issue Irrevocable Corporate Purchase Order (ICPO) with Buyer’s corresponding issuing Bank. 2. Seller issue Commercial Invoice for the Lift able Goods/Draft Contract 12 Months. 3. Buyer Return Signed and Accepted Commercial Invoice/Draft Contract to Seller along with NCNDA/IMFPA signed by all buyer groups with commission structures. 4. Buyer issues MT760 to Seller nominated Bank Account for First Month Shipment within five (5) to ten (10) bank working days (whereby buyer fails to issue SWIFT in the next Five (5) to Ten (10) bank working days, Buyer pays the Shipment Guarantee which the sum will be deducted from the total cost of the product). 5. Seller Bank swift Full set of POP with shipping documents and 2% Performance Bond (PB) within 72 Hours after Seller’s confirmation of the Bank Instrument. • Full POP Documents Listed Below: • The letter of guarantee of an oil refining • Copy of license to export issued by the ministry of energy • Copy of approval to export issued by the ministry of justice • Copy of statement of availability of the product • Copy of the refinery commitment to produce the product • Copy of TRANSNEFT contract to transport the Product to the Port • Copy of the Port Storage agreement • Copy of TRANSNEFT contract to transport the product to the loading port (Injection) (Injection fee pay by Seller) • Copy of the Charter Part Agreements (CPA) to the product to the discharge port (Due to CIF terms – Seller pay freight charges) • Copy of tank storage receipts (Seller pay Port Storage Fees) • Copy of dip test authority • SGS Report from loading port • Ocean Bill of Lading (BL) • Insurance 6. Shipping of the Goods will commence within 10–15 Days from the date of the Seller’s Receipt of the Acceptable Payment Instrument or Earlier. 7. Buyer Issue MT103 upon Delivery at Buyer’s Port, and Seller pays commission to all intermediaries involved in the transaction on seller's and buyer’s side 24 hours after confirmation of the buyer's payment. COST INSURANCE FREIGHT PROCEDURE 1 Buyer confirms SCO and issue official ICPO with banking details. 2 Sellers verify ICPO and issue Draft Contract open for amendments to Buyer. 3 Buyer review Draft Contract signs and returns with Buyer's international passport Copy and NCNDA+IMFPA to seller. 4 Seller legalized the signed Contract with the Ministry of Energy for approval of Contract at (Seller Expense) and sends the scan copy of the Approved Draft Contract via secured e-mail to buyer. 5 Upon buyer receipt of the Approved contract buyer Bank issue payment Instrument to Seller fiduciary bank via MT760 through Swift for the monthly shipment. 6 Upon confirmation of buyer payment instrument, Seller bank issue 2% PB & Full POP documents listed below to buyer bank; via SWIFT. A. Copy of License to Export, Issued By the Department of the Ministry of Energy. B. Copy of Approval to Export, Issued By the Department of the Ministry of Justice. C. Copy of Statement of Availability of the Product. D. Copy of the Refinery Commitment to Produce the Product. E. Copy of the OJSC AK Transnet Contract to Transport the Product to the Port. F. Copy of the Port Storage Agreement. G. Copy of the Charter Party Agreement (S) To Transport the Product to Discharge Port. H. Dip test Authorization. I. Tank receipt J. SGS report. 7 Upon confirmation of Seller 2% P/B & Full (POP) Shipment commences as per contract schedule. 8 Within 5 working days of Vessel arrival, buyer release full payment via MT103/TT for one Month shipment after CIQ or SGS at the destination port.