Petroleum Products (Sellers) Published date: June 8, 2019

To: Buyers / Buyer’s Mandates
Via: Mr. Thomas Hansen-Quao, Buyer’s Mandate

SOFT CORPORATE OFFER

We, on behalf of our End Seller / Title Holder of reputed Russian Refineries hereby confirm with full legal and corporate responsibility our willingness and readiness to supply the following products in the quantity, for the price, and on terms and conditions stated below of Russian specifications:
Product: RUSSIAN AVIATION KEROSENE COLONIAL GRADE 54 (JP54)
Origin: RUSSIAN FEDERATION
Quality: EXPORT STANDARD
Port of Loading: VLADIVOSTOK / PRIMORSK / NAKHODKA / ROTTERDAM / ANTWERP
Payment Terms: IRREVOCABLE LC, T/T TELEGRAPHIC TRANSFER, BG OR SBLC MT760, MT103/23, MT103 BLOCK FUNDS, ESTABLISHED BY A TOP PRIME BANK FOR 100% INVOICE VALUE, PAYABLE AT SIGHT AGAINST SHIPPING DOCUMENTS. PERFORMANCE BOND: 2%, COMMISSIONS: 50% SELLER SIDE, 50% BUYER SIDE UNLESS NEGOTIATED OTHERWISE.
Terms & Transaction Procedure: ACCORDING TO TERMS ANNEXED
Inspection: BY INDIGENOUS SURVEY COMPANY (e.g. SAY BOLT, SGS)

The supply of product is guaranteed to meet the standard specifications.

Note that prices contained in this SCO are subject to market movements.

Volumes (Min – Max): Spot Contract 500,000 – 1,500,000 BBL
1,000,000 – 2,000,000 BBL per month
(larger volume subject to negotiation after trial completes)

Pricing for FOB or CIF: Buyer’s Choice:
1. Gross Platts -USD$8/BBL discount: latest published “Jet” Mid prices from Platts European Marketscan, Northwest Europe Cargoes, for FOB use FOB NWE (PJAAV00) for CIF use CIF NWE/Basis ARA (PJAAU00);

or

2. Fixed Gross: FOB: USD$72.00/BBL, Net USD$68.00/BBL; CIF: USD$74.00/BBL, Net USD$70.00/BBL.

CIF Terms & Transaction Procedures
1. Ahead of trial order:
a) Seller’s Agent provides Buyer with SCO and issues signed NCNDA upon receipt of Buyer's LOI.
b) Buyer signs and returns NCNDA to Seller’s Agent.

2. Buyer provides Seller’s Agent with:
a) Irrevocable Corporate Purchase Order (ICPO) made out to Seller’s Mandate c/- Seller’s Agent.
b) Copy of Buyer’s Certificate of Incorporation
c) Scanned copy of International Passport ID page for Key Person representing Buyer.

3. The Seller issues a Sales & Purchase Agreement (SPA) open for amendment to Buyer and Buyer returns the signed and sealed SPA along with a Bank Comfort Letter addressed to Seller

4. Seller registers and legalizes the contract with the appropriate Authorities.

5. Seller Issues Attestation Letter of Act of Transfer to Buyer. Buyer counters sign and returns back to Seller for Notarization.

6. Upon the agreement of the contract, Seller issues hard copy of the following documents below to Buyer through Legal Consultant Service Government courier service or soft copies through Buyer's secured email address. (Depending on how Buyer chose to receive their PPOP documents & legalized/registered "SPA", but if it is through the Government courier service, expenses have to be borne by Buyer).

7. Upon the agreement of the contract, Buyer and Seller banks open communications and Buyer issues MT760 SLBC or BG to Seller’s Bank to the total value of one month shipment and the Seller’s Bank issues to the Buyer’s Bank a 2% Performance Bond of the total value of the Buyer’s MT760.

8. Upon Confirmation of Buyer's MT760 and Seller's 2% PB by both parties Banks. Both parties proceed and obtain from Authorities in-charge within 48 working hours the Change of Ownership for the transfer of the ownership of the title of the product from Seller name to Buyer company name as legal owner of the Product allocation.

9. Then Shipment commences and Seller’s bank will send to Buyer’s bank the notification letter bank confirmation of listed Proof of Products, and guarantee delivery of the goods with full banking responsibility via Swift or Email Bank to Bank proceed which also includes the following:
a) Fresh SGS report for the Product b) Bill of Lading
c) Vessel Q88
d) Export License
e) Allocation Certificate (Transaction Deal Passport)
f) Tax Clearance Certificate
g) Russian Ministry of Energy Affidavit h) Cargo Manifest.

10. Upon the arrival of the product shipment to Buyer discharge port, Buyer releases payment to the Seller per outturn shipment delivered via SWIFT funds transfer MT103 or TT within 5 banking days after the cargo is discharged, inspected by CIQ/ SGS and receipt of all the relevant shipping documents.

11. After confirmation of Buyer's payment for the products, Seller’s Bank, within 3 working days pays all Facilitator, Brokers/Agents and Mandates their commission from both Buyer and Seller side via SWIFT MT103/TT according to the signed NCNDA/IMFPA.

NOTE: ABOVE PROCEDURES ARE NON-NEGOTIABLE

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