Procedure No. 2

1. BUYER ISSUES ICPO ALONG WITH TANK STORAGE AGREEMENT (TSA) AND POF.

2. SELLER ISSUES COMMERCIAL INVOICE (CI) FOR THE AVAILABLE QUANTITY IN THE STORAGE TANK IN ROTTERDAM. BUYER SIGNS AND RETURNS BACK TO SELLER WITHIN 48 HOURS.

3. SELLER ISSUES TO BUYER THE FOLLOWING DOCUMENTS:

1. REFINERY COMMITMENT LETTER TO SUPPLY
2. TANK STORAGE RECEIPT (TSR)
3. (ATV) AUTHORIZATION TO VERIFY BY PHONE CALL OR EMAIL
4. STATEMENT OF PRODUCT AVAILABILITY
5. NOTARIZED AND ENDORSED NCNDA/IMFPA BY THE SELLER AND SELLER BANK
6. AUTHORIZATION TO SELL AND COLLECT (ATSC)
7. PAYMENT INVOICE FOR TANK EXTENSION (TWO DAYS)
8. CERTIFICATE OF ORIGIN

4. UPON RECEIPT OF POP DOCUMENTS AND EXTENSION PAYMENT OF SELLER’S TANK, SELLER ISSUES UNCONDITIONAL DIP TEST AUTHORIZATION (UDTA). WITHIN 48 HOURS, BUYER PROCEED TO CONTACT SELLER TANK FARM COMPANY FOR DIP TEST TO BE CARRIED OUT.

5. ALL INTERMEDIARIES SIGN NCNDA IMFPA

6. UPON SUCCESSFUL DIP TEST IN SELLER TANK, BUYER SEND TSA AND TANK STORAGE RECEIPT AND FULL DETAILS OF THE TANK FARM AND READINESS TO RECEIVE THE FUEL INTO THE BUYER TANK

7. SELLER CONTACTS TANK FARM AND COMMENCES INJECTION IMMEDIATELY INTO BUYER TANK AND ISSUES BUYER TITLE OF OWNERSHIP CERTIFICATE TO BE FOLLOWED BY ALL EXPORT DOCUMENTATION.

8.  BUYER MAKES PAYMENT BY MT103 OR TT WIRE TRANSFER FOR THE TOTAL PRODUCT AND LIFTS THE PRODUCT AND SELLER PAYS ALL INTERMEDIARIES INVOLVED IN THE TRANSACTION (VIA THE SIGNED IMFPA).