Procedures

SHIP TO SHIP (STS) PROCEDURE - A

Spot Transaction (STS) Procedure: Product: EN590 10ppm

1. Buyer issues official ICPO with complete Buyer banking details & Company Registration Certificate + CPA.

2. Seller issues Commercial Invoice for First Lifting Quantity on Seller's Vessel for Signature and Endorsement of Both Parties.

3. Seller verifies Buyer's CPA and issues the documents listed:

- • Cargo Manifest

- • Commitment to Supply

- • Product Passport

- • Authorization to Sell and Collect (ATSC)

- • Bill Of Lading (B/L)

- • Vessel Notice of Readiness (NOR). To be signed by Buyer's shipping company

- • Dip Test Authorization (DTA) to be signed by Buyer's shipping company and Seller's tanker company.

4. Within 48 Hours, Buyer contacts Seller's shipping company to obtain Authorization to Board (ATB) and Buyer's vessel issues vessel details via active Q88 for Inlet and Discharge Programming.

5. Upon arrival at STS location, Buyer's team boards the Seller's vessel and a product dip test is conducted at the Seller's expense before commencing the product transfer.

6. After injection is completed, Buyer may conducts another Dip Test Inspection for product quantity and quality at Buyer's own expense.

7. After successful completion of the injection, Buyer within a maximum of 24 Hours makes payment via Bank Transfer MT103 for the total value of the product injected into Buyer's vessel and all export documentation related to the petroleum product is transferred to the Buyer.

TRANSACTION PROCEDURES FOR FOB TTV - KV

ROTTERDAM, HOUSTON, FUJAIRAH, & OTHER PORTS (FOB)

1. Buyer issues ICPO & CPA.

2. Seller sends Draft Commercial Invoice (CI) and Draft Delivery Processing Schedule Table (DPST).

3. Buyer signs and approves CI, and vessel Operator signs and approves DPST, and they return them to Seller, who signs the Cl and issues the final copy.

4. Seller schedules injection and issues to the Buyer the following POP documents:

a) Unconditional Dip Test Authorization (UDTA)

b) Fresh SGS report (less than 72 hours old)

c) Injection report

d) Certificate of Origin

e) Authorization to Sell and Collect (ATSC)

f) Tank Storage Receipt (TSR)

5. Buyer verifies POP within 24 to 48 hours of receipt of above-listed documents. (Buyer has the option to have SGS conduct a another dip test inspection on the product in the Supplier’s/Seller’s storage tanks at Buyer's own expense.)

6. Upon a successful dip test inspection (if buyer required), the Buyer provides an injection Notice of Readiness (NOR) to Seller. Seller verifies the NOR and immediately commences injection of the product into Buyer's CPA chartered vessel. After the injection is completed, within 24 hours the Buyer makes payment for the total product value by MT103/TT.

7. Upon receiving payment Seller immediately transfers the title of product ownership to Buyer along with all export documents.

8. Buyer and Seller have the option to repeat the execution of the Sales and Purchase Agreement (SPA) across the following 12 months. All succeeding shipments shall continue in accordance with the same Procedures agreed above.

TITLE TAKE OVER TRANSACTION PROCEDURES (TTO)

1. Buyer issues official ICPO.

2. Seller issues original MOU.

3. Buyer countersign MOU and forward back to Seller Company.

4. Upon the receipt of countersigned original MOU from the Buyer, Seller issues to the buyer the POP documents listed

to buyer below via email:

A. Product Passport Analysis test report

B. Certificate of Origin

C. Bill of Lading

D. Vessel Notice

E. Cargo Manifest

F. Vessel Q88

G. Invoice for title takeover transfer ownership procurement guarantee

H. ETA

5. To takeover the ownership title, upon receiving POP documents Buyer pays 2% of the total product value to Seller's nominated fiduciary bank via MT 103 /TT wire transfer or BTC Wallet within 72 hours of receiving the above POP documents.

This payment will be deducted out of the total cost of product.

6. Upon Seller's receipt of the title takeover payment, Seller orders for re-route to Buyer’s desired port, transfers the title takeover to the Buyer’s

company’s name, and also issues all other outstanding documents to the Buyer’s company’s name, such as:

(a) Approval Export License certificate,

(b) Authorization to board the vessel (ATB)

(d) Authorization to Sell and Collect (ATSC)

(e) Title Transfer Ownership Certificate (TTOC)

(f) Letter of Entrustment

(g) Bill of Lading

7. After vessel arrives at the discharge port, the buyer carries out the CIQ/SGS inspection at his own expense. Upon a successful inspection,

Buyer pays the remaining balance of 98% product value plus title takeover charges via MT103/TT or BTC Wallet for the full product.

TRANSACTION PROCEDURES FOR FOB TTV - KV

1. The Buyer issues an official ICPO and TSA containing the Seller´s procedure with banking details and Company Profile.

2. The Refinery verifies the Buyer ICPO and TSA with Company profile and Seller issues a Commercial Invoice of the product in tanks to be sign by buyer and send fresh SGS to buyer storage tank for confirmation. Upon the buyer tank storage confirm to the buyer validity of the fresh SGS, buyer request two difference invoice from their tank while 3 days will be paid by seller and 4 days will be paid by buyer.

3. Upon the signed CI received from buyer and 7 days TSR from buyer storage tank for verification, Seller issues the below POP documents to the Buyer for verification.

a) Injection Report
b) Dip Test Authorization Letter (DTA)
c) Authorization to Sell and Collect
d) Fresh SGS Report
e) Authorization to verify the product in the Seller´s Tank (ATV)

4. The Buyer inspects by SGS on the Buyer´s expenses and sends to the Seller TSR after Receipt of successful Dip Test report is received.

5. Seller issues the following documents to all Intermediaries and the Buyer endorsed NCNDA/IMFPA.

6. Upon successful Dip Test in tanks, product will immediately be injected into Buyer´s Tanks.

7. The Buyer makes Payment for the product via MT103 in exchange for title.

CIF For UREA & Sulphur- B

1. Buyer issues ICPO with Buyer’s banking information.

2. Seller issues Draft Contract (open for any amendments) to Buyer. Buyer signs, seals and returns the Draft Contract to Seller for final endorsement. Seller gives partial proof of products (PPOP) including the following documents:

(A) Refinery Commitment to Supply

(B) Certificate of Origin

(D) Product quality passport (Analysis Test Report)

3. Within three to five banking work days, Buyer’s bank sends SBLC MT760 to Seller’s nominated bank account for first month's shipment. If Buyer fails to issue SWIFT within this stipulated timeframe, Buyer must pay a shipment guarantee sum of the cost of shipment which will be deducted from the total cost of the product.

4. Seller’s issues Full POP documents alongside a 2% Performance Bond (PB) from Seller's bank. POP documents include:

a) Copy of License to Export, issued by the department of the Ministry of Energy.

b) Copy of Approval to Export, issued by 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 Transnet contract to transport the product to the loading port.

f) Copy of the Port Storage Agreement.

g) Copy of the Charter Party Agreement (CPA) to transport the product to discharge port.

h) Copy of Vessel Questionnaire 88.

i) Copy of Bill of Lading.

j) SGS Report at loading port.

k) Dip Test Authorization (DTA) & ATB, NOR, and ETA.

m) Certificate of Ownership Transfer

n) Allocation Transaction Passport Code Certificate (ATPCC) by Ministry of Energy.

5. Shipment commences as per signed contract delivery schedule and the shipment should arrive at Buyer’s discharge port within 12- 15 days. The SGS inspection will be borne by the Seller at the loading seaport and by Buyer at the unloading sea port. Buyer releases payment to Seller by TT/MT103 upon receipt of the shipping documents and confirmation of the Q & Q by SGS/CIQ at destination port.