EN 590 10PPM DIESEL

C'IF AS'WP APPROVED STANDARD WORKING PROCEDURE.

1. Buyer accepts seller’s procedure and issues IC'PO with the following: banking details, company profile, passport copy along with duly executed IM'FP'A of all intermediaries involved in the transaction and an acceptance letter from buyer stating the buyer adheres to seller’s procedures.

2. Seller acknowledges buyer’s IC'PO and issues contract to buyer open for amendment. Buyer signs and returns the contract to the seller in word format within three (3) international working days.

3. seller makes the final signa'ture, notarized the contract with appropriate authorities, convert to P'D'F and send to buyer as final approved copy along with the following:

a. Product quality pass'port - quality certificate

b. Product allocation cert'ificate issued by Min'istry of Energy;

c. Cert'ificate of origin

d. Product quantity certificate

e. IC'C Warning Letter

f. Pro-for'ma Invoice

g. Commitment to supply

h. Au'thor'ization letter to collect payment

4. Buyer's ba'nk issues M'T'7'60 SB'LC in R'MB / D'L'C M'T'700 in (U'S'D) within seven (7) working days for first ship'ment's value to seller's financial bank to enable seller to commence loading of product with the shipping company. Seller to finalize loading within six (6) working days. But if buyer fails to issue M'T'760 S'B'L'C in R'M'B/D'L'C M'T'700 in (US'D) within seven (7) working days, as an alternative provision buyer pays via T'T U'S'D to seller as transaction guarantee performance within seventy-two (72) hours which will be deducted from the product's invoice value when final payment is made by the buyer after discharge of product at destination port.

5. Upon receipt of bu'yer's bank fin'ancial instrument, seller's bank in response issues oper'ative two per'c'ent (2) P'B in favor of buyer's bank account within three (3) working days, which is submitted and detailed in the mutually agreed signed contract.

6. Upon seller's bank successful exchange of instrument method with buyer's bank or alternative T'T payment of U'S'D paid and confirmed if buyer failed to issue bank instrument within the sti'pulated time frame, seller loads product within six (6) international working days and sends P'O'P documents in buyer's company name to buyer's bank via bank to bank sw'ift and a copy via to buyer and representative. (11 sets bellow):

A. Certificate of incorporation

B. Act of transfer

C. Commercial invoice

D. Company taxpayer's certificate

E. Fresh S'G'S report

F. Tank receipt

G. Q'8'8Â

H. Bill of lading

I. Product Quality specification

J. Marine insurance documentÂ

K. Certificate of non-wooden packageÂ

L. Nor-notice of readiness, and

M. E'T'A-estimated time of arrival

7. Buyer notifies seller by official written notice of his bank receiving seller's P'O'P documents while seller sends to buyer the registered hard copy of the contract through courier service within two (2) working days.

8. Shipment commences as scheduled in the contract and upon arrival of the cargo at the discharge port, buyer's inspection team carries out S'G'S or equivalent inspection to ascertain quality and quantity.

9. Product is discharged after successful inspection into buyer's storage facility, then buyer's bank releases payment for total value of the product to seller's bank within seventy two (72) hours by T'T/M'T'103. Seller transfers title of the product to buyer. Seller/Buyer pays all intermediaries/parties involved in the transaction their commission as per I'M'F'P'A by T'T within two (2) working days.

10. Second and succeeding shipments continue as scheduled in the Contract.

11. Seller pays all intermediaries/parties involved in the transaction their commission as per I'M'F'P'A by T'T within two(2) working days. (dimit)