Procedure No. 8

(FOB) – TANK TO VESSEL (TTV)

1. BUYER ISSUES ICPO WITH SELLER’S TRANSACTION PROCEDURES ALONG WITH THEIR CPA AND POF.

2. SELLER ISSUES COMMERCIAL INVOICE (CI) FOR THE AVAILABLE QUANTITY IN THE STORAGE TANK TO BUYER, BUYER SIGNS AND RETURN BACK TO SELLER WITHIN 3 WORKING DAYS.

3. UPON RECEIPT AND REVIEW OF THE SIGNED C.I., THE SELLER ISSUES DIP TEST AUTHORIZATION (D.T.A) TO BE

COMPLETED AND SIGNED BY THE BUYER AND BUYERS TANK FARM COMPANY, IN ORDER FOR THE DIP TEST TO BE CONDUCTED ALONGSIDE COUNTERSIGNED COPIES OF THE C.I.

4. BUYER RETURNS THE DIP TEST AUTHORIZATION (DTA) FULLY COMPLETED AND SIGNED WITHIN ITS VALIDITY AND UPON SUCCESSFUL REVIEW OF THE COMPLETED DTA, THE SELLER ISSUES THE BELOW FULL POP DOCUMENTS:

A. FRESH SGS REPORT (NOT OLDER THAN 72 HOURS)

B. PRODUCT RESERVOIR RECEIPT

C. ACCREDITATION CERTIFICATION

D. PRODUCT PASSPORT (QUANTITY AND QUALITY ANALYSIS)

E. AUTHORIZATION TO SELL AND COLLECT CERTIFICATE (ATSCC)

F. PRE-INJECTION REPORT (PIR)

G. NCNDA/IMFPA (TO BE COMPLETED BY ALL INTERMEDIARIES)

H. CERTIFICATE OF PRODUCT ORIGIN;

I. AUTHORITY TO VERIFY (ATV) BY EMAIL OR PHONE

5. UPON RECEIPT AND CONFIRMATION OF THE ABOVE POP DOCUMENTS, THE BUYER PROVIDES ITS TESTING OFFICIALS (SGS OR INTERTEK), AND THE NEEDED TEST ARE CARRIED OUT ON THE PRODUCT IN THE SELLER’S TANKS.

6. UPON SUCCESSFUL DIP TEST BUYER MAKES FULL PAYMENT BY MT103 / TT WIRE TRANSFER FOR THE TOTAL VALUE OF THE PRODUCT. AFTER THE PAYMENT FOR THE BATCH, THE BUYER RECEIVES ALL RIGHTS TO THE GOODS. THE BUYER SHALL BE ABLE TO IMMEDIATELY TAKE FROM THE SELLER STORAGE TO THE BUYER STORAGE. WITHIN 24 HOURS AFTER CONFIRMATION OF BUYER PAYMENT AND INJECTION COMMENCES IMMEDIATELY.

7. SELLER PAYS A COMMISSION TO ALL INTERMEDIARIES INVOLVED IN THE TRANSACTION.

8. SELLER ISSUES A CONTRACT FOR THE BUYER’S DESIRED DURATION UPON SUCCESSFUL COMPLETION OF THE TRIAL.