Crude Oil (Sellers) Published date: December 11, 2017
Modified date: December 11, 2017

ATTN: ALL BUYERS/BUYERS MANDATE

Products delivery: Any petroleum products excluding fuel oil

Notice: This procedure must be accepted entirely by the Buyer.

1. Buyer confirms Full Corporate Offer and acceptance of the Seller’s procedures, issues ICPO with Seller’s procedures and our price listed incorporated within the ICPO and confirmation of the name of the tank farm/TSA copy that it will be used for the transaction in order to process the draft contract.

2. Seller issues Draft Contract and sends it to the Buyer. Furthermore, Buyer returns the countersigned Contract duly signed and sealed to Sino joined with a Letter of Acknowledgment and scanned copies of the Buyer´s Company Registration and the International Passport copy of Buyer.

3. Buyer provides to Seller its leased Tank Storage Agreement (TSA), furthermore, the injection and tank has to be certified Transneft (VERY IMPORTANT FACT). If the tank farm is not certified by Transneft, the contract will not be concluded. The tank farm operator must have presence at the Russian Federation in order to be certified by Trasneft. Then the Seller confirms its acceptance upon which Seller’s logistics operator and Buyer’s logistic operator will open communication to enable validation and confirmation of product based on partial POP documents including:

A. Refinery statement of availability of product.
B. Refinery commitment letter.
C. Refinery ATS.
D. Product passport.
E. Notarized letter of commitment to perform injection. This will enable the Buyer to receive TSR to be provided by the Seller.

4. Seller issue to Buyer the NOR (Notice of Readiness) to Commence the Injection of the product acquired.

5. Within 24 -72 hours maximum, Seller commences the Injection of the equivalent to the First Month Shipment Quantity from the Refinery’s Reservoir through the Pipeline into the Loading Port Storage Tanks´ Leased and designated by the Buyer.
In case product has not been injected into Buyer’s tanks, Seller/Refinery must reimburse to Buyer the cost of tank farm reflected in TSR. Official notarized commitment letter will be issued as part of the PPOP.

6. Upon a successful Buyer´s Q&Q Dip Test on the product, Buyer makes the payment for the total value of the product injected into the tanks through the means of MT103-T/T. (VERY IMPORTANT FACT).

7. Upon Seller´s receipt of Payment for the product from the Buyer, Seller issues to Buyer the Title Ownership of the product and ALL Exporting Documents of the product.

8. Buyer lifts the product with its Vessel Tanker (only if applicable).

9. Buyer pays ALL facilitators involved in the Transaction and subsequently continues as per contract (Buyer´s Side Facilitators). Monthly Delivery Continues as per Contract.

Best regards

• Company Name: Adwenpa Consult
• Country: Ghana

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