Procedure

SHIP TO SHIP STS

1. Buyer Issues an official ICPO with Full Buyer Banking Details, Company Registration Certificate & CPA

2. Seller issues a Commercial Invoice for First Lift Quantities at Seller Vessel for both parties' Signature and Endorsement.

3. Seller Verifies Buyers CPA and Issues the Below-Listed Documents.

a. Freight Cargo Manifest

b. Commitment to Supply

c. Product Passport

d. Authorization to Sell (ATSC)

e. Bill of Lading (B/L)

f. Dip Test Authorization (DTA) - Invoiced to Buyer.

g. NOR to be signed by Buyer Tanker/ Vessel Company.

5. Within 48 hours” Buyer Contact Seller Vessel Company to obtain Authority to board (ATB) and buyer vessel issues vessel details for injection and discharging programming.

6. On Arrival at STS spot; buyer team board seller vessel and dip test of products is conducted at seller expense before commence transfer of products.

7. After injection is completed. Buyer conducts dip test inspection for Quantity and Quality of the products at buyer expense.

8. Upon successfully complete injection, Buyer within 24 hours Maximum Payment via MT103 wire Transfer for the Total Value of the products injected into buyer vessel and all exportation documentation in Relation to the petroleum products is transferred to buyer.

STS-2

1. Buyer issues an official ICPO, CPA with full buyer banking details & company registration certificate.

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‎2. Seller issues a commercial invoice for first lift quantities at seller vessel for both party’s signatures and endorsement.

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‎3. Seller lodges the finalized Commercial Invoice with the bank and Seller proceeds to verify buyer's CPA. Seller and buyer deposit $1,000,000 USD each to an escrow account in Malaysia law firm. Upon the law firm presenting proof of the seller’s funds having been credited, the buyer shall complete the transfer of USD 1,000,000 to the same designated account within one working day. After the law firm discloses the account payment records to both the buyer and the seller, the buyer shall issue a Q88 in 2 working days.

‎- Seller will deposit first.

‎- Malaysia Law firm designated law firm by seller.

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‎3. Seller issues the below PPOP documents:

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‎(a) Freight cargo manifest

‎(b) Commitment to supply

‎(c) Product Passport

‎(d) Authorization to sell (ATS)

‎(e) Bill of lading (B/L)

‎(f) Dip test authorization (DTA)

‎(g) NOR to be signed by buyer vessel agency, and seller respond with ETA to STS spot

‎(h) NCNDA/IMFPA

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‎5. On arrival at the discharge port, Seller provide ATB, ATV and UDTA for Buyer to conduct diptest. Seller vessel then transfers the fuel to the Buyer's nominated vessel.

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‎6. After fuel injection is completed; Buyer conducts DIP TEST Inspection for Quantity and Quality of the fuel.

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‎7. Upon Successful DIP TEST Inspection Q&Q by the Buyer, within 24-48 Hours Maximum Buyer makes payment via MT103 Wire Transfer for the Total Value of the Product Delivered into the Buyer's Tanker Vessel and Simultaneously, Title to the Product is Transfer to the Buyer and Seller hand over all Exportation Documentation in relation to the petroleum product.

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‎8. Commission is paid to Intermediaries involve in the Transaction.

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‎9. Buyer issues non-operative IRDLC for the value of one month's deliveries.

‎Seller Issues a 2% performance bond which activates the Buyers bank instrument.

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‎10. Deliveries per contracted delivery schedule begins.

Vessel To Vessel VTV

1. Buyer Issues an Official ICPO with Full Buyer Banking Details & Company Registration Certificate along with CPA and POF.

2. Upon verification and approval, seller alerts buyer by issuing Commercial Invoice ( CI ) for buyer’s endorsement. The buyer sign and returns the CI to the seller.

3. Seller Issues the Below-Listed Document:

Freight Cargo Manifest
Commitment To Supply
Product Passport
Authorization to Sell (ATS)
Bill Of Lading (B/L)
Dip Test Authorization (DTA)
Nor to be signed by Buyer vessel and seller respond with ETA to STS spot

4. Within 48 Hours, Buyer Contact Seller Vessel Company to make payment to Obtain Authorization to board (ATB) And buyer’s Vessel issues vessel Details for Injection and Discharge Programming.

5. On Arrival at STS/VTV spot; buyer team board seller vessel and dip test of product is conducted at seller expense before commence Transfer of product.

6. After Injection Is Completed; Buyer Conducts Dip Test Inspection for Quantity and Quality of the product at buyer expense( optional ).

7. Upon successful completion of the injection, Buyer within 24 Hours, Maximum Payment Via USDT/MT103 / TT wire transfer for The Total Value of The Product injected into the buyer's vessel and All Exportation Documentation in Relation to The Petroleum Product is transferred to buyer.

Vessel To Tank VTT

1. The Buyer issues an oAicial ICPO with full Buyer Banking details, Company Registration Certificate, and Tank Storage Agreement (TSA).

2. The Seller issues the Commercial Invoice within 48 hours; the Buyer signs the Commercial Invoice and returns it to the Seller within 2 working days.

3. The Seller confirms the Commercial Invoice and Issues the following POP documents: a. b. c. d. e. f. g. h. 4. Commitment To Supply. Product Passport. Freight Cargo Manifest. Bill of Lading (B/L). Ullage Report. Dip Test Authorization (DTA). Vessel To Tank Injection Agreement (VTTIA); to be executed by the Buyer and the Buyer’s Tank Storage Company. NOR; to be signed by the Buyer and the Buyer's Tank Storage Company.

4. The Seller issues Authorization to Sell (ATS) and confirms the vessel’s estimated time of arrival (ETA) at the discharge location. The Buyer’s storage operator provides full tank details and Injection Programming requirements.

5. The Buyer submits the executed VTTIA and DTA to Seller’s Vessel Operator and obtains Authorization to Board (ATB) for inspection purposes.

6. Upon the vessel’s arrival at the discharge location, the Buyer and/or the Buyer’s appointed independent inspection company (SGS, Intertek, Saybolt, or equivalent) boards the vessel to conduct quantity and quality verification, before commencement of discharge operations.

7. Upon successful completion of the Q&Q inspection and the Injection, the Buyer makes Payment Via MT103 / TT Wire Transfer for the total value of the Product injected into the buyer's tank, within 02 banking days. The Seller transfers all product and export-related documents, including the Ownership & Title Transfer certificate, to the buyer.

Tank To Tank TTT

1. Buyer issues ICPO and Company Registration Certificate or any I.D. With TSA for Seller's Verification

2. Seller issue Draft Commercial Invoice, Buyer signs and returns to Seller with his Tank Storage Agreement.

3. Seller pays the Buyer's tank for 2 days for the Injection Process; Buyer pays 3 days and only after his Tank Farm Company has received the payment from Seller Company.

4. Seller provides Buyer with FULL POP Documents.

Fresh SGS Report less than 48 hours
Product certificate of origin
Dip Test Authorization-Unconditional
Injection Report
Tank Storage Receipt with GPS Coordinates
Tank Farm Bar-code Information
Letter of Commitment to Supply.
Registration Certificate & Export License Copy
Authority to Sell & Collect (ATSC
Endorsed Injection Schedule by the buyer & buyer Tank Farm
Irrevocable Commitment to Supply for Spot and 12 months Contrac
Injection Schedule signed by Buyer & Buyer's tank farm.

5. Buyer conducts Dip-Test in tank, via SGS on Buyer's expense, Seller injects the fuel To Buyer's tank and Buyer makes payment based on Q&Q by MT103 wire transfer / TT According to the final Commercial Invoice

6. Seller transfers the title of ownership as per Buyer's instruction. Buyer lifts the product.

Title Take Over 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 countersign original MOU from the buyer, seller emails to the buyer the listed document issuedto buyer as stated below:

Product Passport Analysis test report.
Certificate of Origin
Bill of Lading
Vessel Notice
Cargo Manifest
Vessel Q88G. Invoice for title takeover transfer ownership procurement guarantee 5% Escrow deposit Invoice
ETA

5. Buyer makes payment of 5% down deposit to seller nominated escrow company which stands as an Allocation and Security Guarantee payment to the seller nominated bank by T/T Wire Transfer within 3 banking days to enable the seller to change every document to buyer’s name and instruct the vessel captain to re-route the vessel to the new buyer’s destination port. The 5% deposit Payment made shall be deducted from the total payment value of the takeover products.

6. Upon seller receipt of the title takeover payment transfer procurement guarantee, seller orders for re-rout to buyer’sdesired port, transfers the title take over to the potential buyer’s company’s name and also re-issue all otheroutstanding documents to thepotential buyer’s company’s name, such as:

* Approval Export License certificate

* Authorization to board the vessel (ATB)

* Dip test authorization (DTA)

* Authorization to Sell and Collect (ATSC)

* Title Transfer Ownership Certificate (TTOC)

* Letter of Entrustment(g) Bill of Lading

7. After vessel arrives the discharge port and buyer carry’s out the CIQ/SGS inspection and upon a successful inspection,buyer pays by MT103 T/T for the full product.8. Seller pays commission to Brokers/intermediary as per signed NCNDA/IMFPA within 48 hrs. after Buyer payment forfull product has been confirmation by seller, and seller commences the subsequent monthly shipments if buyer intend to continue contract Sign

Tank to Vessel TTV

1. Buyer issues an ICPO addressed to the Seller that incorporates the Seller's procedure. The ICPO must include thebuyer's company details, banking details, passport copy, with CPA/TSA.

2. Seller sends a commercial invoice contract agreement to the buyer indicating the available quantity of the productin the leased tank and a letter of Performance. The Buyer signs and returns the commercial invoice and the Letter ofPerformance. Commercial Invoice becomes effective.

3. The Buyer issues a BCL via MT-199 or MT-799 bank to bank within 3 days after signing Cl, for the Seller to confirmthe buyer's financial ability to make the purchase.

3. (a) (if buyer fails to send BCL within 3 days) In the event that the Buyer's MT-199 or MT-799 is not issued orreceived within the specified time period, they will effect payment in the amount of USD200,000 via MT103, as a Procurement Guarantee (PG) in order to receive Authorization Letter and Access to seller's tank in VTTI, for product Physical inspection, TTM, Dip test and Product lifting. This Procurement Guarantee payment also serves to confirm the buyer's financial capacity to complete the purchase. The amount for the (PG) will be deducted from the product total value.

4. The following proof of product document will be provided to the Buyer. All intermediaries must sign the NCNDA/IMFPA.

*Fresh SGS report or equivalent not older than 48-72 hours

*Product Certificate of Quality

*Product Injection report

*Tank Storage Receipt

*Authorization to sell and collect certificate

*Port clearance authorization

*Product certificate of origin

*Proforma invoice for product total value

*Unconditional Dip Test Authorization

5. The Buyer provides Q88/TSR with notice of readiness. The transfer of product into the buyer's nominated vessel ors torage tank will commence.

6. Upon completion of the product injection, The Buyer makes the full payment of the total product value, via wire transfer (TT/MT103), to the Seller within 1-2 banking days and upon confirmation of the product payment, The Seller company transfers the Title of Ownership and all exporting documents of the Product to the Buyer's company.

7. Subsequently, monthly delivery continues according to the terms of the commercial invoice and the transaction is extended by issuance of a 12-month contract with possible R&E by the seller.