Crude Oil (Sellers) Published date: June 17, 2020

Dear Sir,

On behalf of the End Seller, I hereby confirm under penalty of Perjury, under International law that we are Ready, Willing, and able to sell the following commodity as per any specification and quantity to be requested by any customer in the terms and conditions stated below:

Product Terms:

Commodity: Crude Oil Origin: Saudi Arabia and Russia.
Delivery: Rotterdam (100,000MT minimum order)
Monthly: 100,000 MT per month
Contract: 12 Months with possible Rolls and Extensions.
Price: To be negotiated and given upon request for an offer from the customer.
Payment and Banking Procedures:

1. Buyer requests product with ICPO with Corporate Profile (CP) and KYC with Buyer’s Passport, Certificate of Incorporation, and bank information.

2. Seller issues draft Sales & Purchase Agreement (SPA) for Buyer’s review, approval, and Signature. Buyer returns the SPA to Seller with KYC. Buyer’s bank issues RWA letter on bank letterhead stating that the bank is Ready, Willing, and able to issue SBLC in the amount required for the SPA.

3. Seller signs, locks, and returns to Buyer.

4. Buyer and Seller provide contract copies to their respective banks to justify bank action(s) as needed.

5. Buyer issues Standby Letter of Credit (SBLC) via SWIFT MT760 as Payment Guarantee (may be used as last month contract deliver payment) issued from top 100 World Bank or as agreed by Seller, valid for one year and equal in dollar amount to one month’s maximum delivery cost. Upon receipt of SWIFT MT760 SBLC, Seller will deposit 2.0% of the Buyer’s SBLC into a mutually agreeable escrow account representing the Performance Guarantee. NOTE: A PRE-ADVICE- READY, WILIING & ABLE LETTER ON THE SENDING BANK LETTERHEAD WILL BE PROVIDED TO SELLER PRIOR TO THE SWIFT MT 760 SBLC. ANNEX (B & C) OF THE SPA ARE THE SUGGESTED VERBIAGE FOR THE RWA LETTER AND THE MT760 SBLC TO BE SENT FROM THE BUYER’S BANK.

6. SBLC must be from a top world bank (or as approved by Seller and cash backed, not a leased instrument, from a branch that is not under currency controls.

7. Seller must validate the SBLC to confirm the contract and “lock-in” the price.

8. Upon verification of MT 760 SBLC, Seller schedules loading of vessel and provides to Buyer, first load documents and estimated delivery date as follows: a. Vessel load manifest (VLM) b. Bill of Lading c. Vessel (ID-Q88) d. Charter Party Agreement (CPA) e. Commercial Invoice (CI) f. Authorization to Board (AFB)

9. Buyer provides Port Authority (destination port) contract information to Vessel Master for destination arrival, Customs clearance and off-loading.
10. Buyer verifies Seller product load documents listed above and make payment per CI, via SWIFT MT103 wire (within 24 hours) after arrival at Buyer’s destination port.

11. Seller transfers Title ownership to Buyer and provides any & all additional related export product documents.

12. Deliveries continue monthly per contract.

Addo Frimpong
ad.frimpong@yahoo.com

• Company Name: Addo Frimpong

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