Diesel Gas D2 Oil

Purchase and Payment Procedures:

1.      Buyer and Seller execute an IMFPA including all intermediaries.

2.      Seller/agent issues SCO.

3.      Buyer issues ICPO with bank information.

4.      Seller issues FCO and buyer sign and stamp to confirm the FCO.

5.      Seller provides a Draft Sales and Purchase Agreement to the Buyer for review and signature.

6.      Seller and Buyer delivers signed copies of contract with their bankers.

7.        Buyer to instruct his Bank to issue a MT705 Pre-Advice LC to Seller Banking Coordinates contained in the signed FCO and Final Contract.

8.                Seller's Banker confirms said MT705 Pre-Advice.

9.      Seller issues partial POP and Buyer confirms.

10.    Buyer™s Banker issues an Irrevocable, Revolving, Non-Transferable Documentary Letter of Credit in favor Seller.

11.    Within 48-72 hours of confirmation of Buyer™s payment instrument, Seller issues a 2% Performance bond to activate Buyer™s instrument and Full Proof of Products Document.

12.    Shipment process commences within 48-72 Hours of issuing 2% PB to buyer™s discharge destination as per a mutually acceptable shipment schedule.