TRANSACTION PROCEDURE: FOB CI DIP & PAY:

1. Buyer issue ICPO addressed to Seller's representative with Seller’s procedure incorporated on it, buyer’s company details, banking details, passport copy with letter confirming readiness, wiliness and capability to carry out the transaction.

2. Seller receives and verifies buyer’s ICPO with other buyer’s details. When satisfy with the verification, seller issue Commercial Invoice (CI) for the product in seller’s tank in port terminal for buyer’s review and endorsement.

3. Buyer review, endorse and return the endorsed Commercial Invoice (CI) to seller, along with buyer’s Tank Storage Agreement (TSA) from buyer’s Logistic Company.

4. Seller verifies the genuineness and authenticity of the TSA. Seller issue to buyer the under listed PPOP documents;

Product Passport

Commitment Letter to Supply

Certificate of Origin.

Statement of Product Availability.

Authorization to Verify (ATV)

Tank Storage Receipt (TSR) with GPS Coordinate.

5.Within 24 hours upon receiving the above documents from seller, buyer provides their Tank Storage Receipt (TSR)

& Authority to Verify (ATV) from buyer’s logistic company or Buyer extends the seller’s leased tank (as the case maybe) Its negotiable between buyer and logistic company to enable buyer and his SGS team conduct a dip test of Quality and Quantity on the product in seller’s tank.

6.Seller issues 2% guarantee fee to Buyer in event that Seller fails to perform alongside with the following POP document.

Endorsed NCNDA/IMFPA

Authorization to Sell and collect (ATSC)

Dip test authorization.

Fresh SGS report (not older than 72 hours)

Product Passport

Certificate of Origin

7. Upon successful Dip Test in Seller’s Tanks, product will immediately be injected into Buyer Tanks or Buyer takes

over Seller Tank and Buyer makes Payment for the product via MT103.

8. Seller transfers Title Ownership to Buyer and pays commission to all intermediaries in the Transaction, and proceeds with the signing of yearly contract with the Buyer