FOB TANK TO TANK PROCEDURE

1. Buyer issues ICPO containing the seller's procedure with banking details and scanned copy of buyer's passport

along with (TSA) Tank Storage Agreement (TSA) from buyer’s Logistic Company.

2. Seller issues Commercial Invoice (CI) for the available products in Tank at the Port, for Buyer's review and

endorsement and return for legalization on seller's expenses

3. The Seller's verify the Tank Storage Agreement (TSA) provided by the buyer. Upon successful verification and

approval of the authenticity and availability of the Storage Space Facility reserve in favor of the buyer. Seller release the

below POP documents directly to end buyer’s secure email.

a) Copy of Legalized Commercial Invoice.

b) Copy of Commitment to Supply.

c) Copy of Injection Report

d) Copy of Fresh SGS (Not Older Than 48 hrs.)

e) Copy of ATS -Authorization to Sell & Collect

f) Copy of Authorization to Verify (ATV)

g) Copy of Dip Test Authorization (DTA)

h) Copy of Commitment Letter to Supply

i) Copy of Export licence

j) Copy of Statement of Product Availability.

k) Copy of Tank Storage Receipt (TSR) with barcode and GPS Coordinate.

l) Copy of NCNDA/IMFPA

4. The Buyer Conducts Dip Test in the product in the seller's reservoir.

5. Buyer provide Authority to Inject (ATI) from it Logistic Company to enable seller commence Injection of Product

into the Buyer's Tank.

6. Within Twenty-Four (24) Hours upon completion of the Injection, buyer make payment for the total cost of the

product injected into buyer’s tank by TT wire transfer to seller’s nominated bank account.

7. Buyer lifts products and all intermediaries are paid, Seller and Buyer consider and signs further contracts after

successful Transaction

CIF TRANSACTION PROCEDURE

TRANSACTION PROCEDURES FOR CIF DELIVERY

1. Buyer Company Issues Irrevocable Corporate Purchase Order (ICPO) on its official company letterhead with letter of acknowledgement, scanned copies of the buyer’s company registration and international passport number of buyer to

the seller.

2. Seller Company Issue Draft Contract / Sales & Purchase Agreement (SPA Open for amendment if any).

3. Buyer within three (3) working days’ signs SPA and returns to seller. Seller registers and legalizes contract officially

with the appropriate authorities to facilitate booking of allocation and securing a legitimate approval for the Transfer of

Ownership Title/Allocation to buyer’s Company name at seller’s expense.

4. Seller releases to the Buyer the Partial POP Documents below.

a) Copy of Tax Registration Certificate (Certificate of Incorporation),

b) Copy of Certificate of origin

c) Copy of Product Passport,

d) Copy of Refinery commitment to supply

e) Copy of Statement of availability of product.

f) Copy of Proforma Invoice

5 Buyer issues their financial guarantee in the form of Letter of Credit (SBLC MT760 / DLC MT700) to cover the first

shipment to seller’s fiduciary bank within five (5) working days

6 If buyer fails to issue Standby Letter of Credit (SBLC MT760 / DLC MT700) within five (5) working days, in

alternative shall make security guarantee deposit of $ 380,000 (Three Hundred and Eight Thousand Dollars) Only via

MT103 TT Wire Transfer to seller’s fiduciary account to enable seller secure the service of the vessel to transport the

product to the buyer’s desired port

Note: Fee made by buyer will be deducted when making payment for the total cost of the product at the discharge

port after a successful CIQ/SGS test at the discharge port.

7 On confirmation of the above clause, Seller’s bank issues 2%PB, full copies of POP and Shipping documents to buyer

Company.

a) Copy of export license, issued by the ministry of Petroleum and 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.

e) Copy of Transnet contract to transport the Product to the Port.

f) Copy of the Port Storage agreement/ Insurance.

g) Copy of charter party agreement.

h) Copy of Customs clearance certificate.

i) Copy of the tank receipt issued by the storage facilitator.

j) Copy of SGS Report.

8 Shipment commences as per contract and upon arrival of the vessel tanker at the discharge port, buyer conducts SGS

or CIQ Inspection.

9 Buyer makes operative payment for the full shipment via T/T Wire or MT103.