PROCEDURE NO.5

BUYER COMMITMENT:

Buyer within 5 banking days, buyer’s bank sends SWIFT MT760 via SBLC/BG or SWIFT MT700 via DLC to seller nominated bank and send swift copy to Seller. Buyer within seven (7) banking days, buyer’s bank sends SWIFT MT700 via DLC to seller nominated bank and send swift copy to Seller. But if the buyer fails to issue sends SWIFT MT760 via SBLC/BG or SWIFT MT700 via DLC within Five 5 Banking days, as an alternative provision buyer pays via MT103 TT the shipping cost to seller, the amount of the shipping cost depends on the location of the country and continental port. Upon the confirmation of the shipping cost, the Seller will proceed with the loading of the product without any delay, which will be deducted from the product’s invoice value when final payment is made by the buyer after discharge of product at the destination port.

FINAL PAYMENT:

IF SHIP TO SHIP OCEAN:

Buyer submits his Vessel information. Q88, CPA and Location Clearance. Vessel Captains contact each other and coordinate boarding of vessel for buyer’s inspectors. Upon successful dip test, Buyer pays for “exact quantity” of product in Proforma Invoice using MT-103 / TT by Wire transfer delivered into vessel, 100% payable for each shipment within 1-2 banking days upon the cargo passedSGS.

IF SHIP TO BUYER’S PORT:

Refinery loads the vessel, inspects the product on-board the vessel and deliver the product at a mutually agreed safe port. At the delivery port, the buyer will conduct his own inspection to ascertain the quantity and quality of the product. Upon successful dip test, Buyer pays for “exact quantity” of product in Proforma Invoice using MT-103 / TT by Wire transfer delivered into vessel, 100% payable for each shipment within 1-2 banking days upon the cargo passed SGS.