Product Description

JP54 JET FUEL

Ref to price, FOB Primorsk, will be

JP54 Platt minus FOB PRIMORSK 15/11 USD/bbl Quantities 2,000,000 bbl spot + up to 5,000,000 X 12

JP54 Platt minus CIF ROTTERDAM 14/10 USD/bbl Quantities 2,000,000 bbl spot + up to 5,000,000 X 12

Country of Origin: RUSSIAN FEDERATION.

Contract: 12months with possible rollovers 24/36 Months Contract.

Incoterms: CFR & FOB-2010.

Specification: Annexed within Contract (TBA).

Loading Port: Novorossiysk/ Ust-Luga/ Vladivostok.

Price: Negotiable (Please - target price on LOI/ICPO).

Payment: DLC, Payment Release via MT 103 OR T/T upon CIQ at discharge port.

Performance Bond: 2% by seller.

Inspection: Seller and Buyer mutually agree that SGS or an internationally recognized first class independent surveyor company be appointed at both designated loading and discharge port, to assess commodity quality and quantity.

ALL PROCEDURES CANNOT BE ALTERED OR CHANGED

P R O C E D U R E S :

: CFR/CNF (Cost and Freight):-

1) Buyer issues official ICPO/LOI, followed by seller's FCO on approval to initiate performance, buyer returns signed FCO to seller.

2) Seller issues draft contract to buyer open for amendment. Buyer makes review, sign and return to seller.

3) Seller approves final contract and sends copy to buyer accompanied with:

A) Commercial Invoice.

B) Commitment letter to supply the product.

C) Transaction Passport (Transfer Certificate).

D) Chartered consignment in handling schedules, insurance and logistics.

E) Shipping approval or vessel Q88

5) Upon mutually insured logistics, Seller officially invites the

buyer's delegation to inspect the product at loading point.

6) Both sides open bank to bank communication, seller's bank swifts full POP to buyer's bank including seller's bank confirmation to commission IMFPA.

7) Buyer's bank swifts agreed instrument, i.e. SBLC, MT760 or MT700

to seller's bank.

8) Seller's bank issues 2% PB to activate buyer's bank instrument.

9) Upon buyer's confirmation and satisfactory to Dip Test (CIQ at destined point), buyer's bank releases payment to seller's bank for each approved discharge.

10) Seller out-pays involved intermediates within 24-36 hours after shipment discharged.

Kindly Issue your ICPO & CP upon acceptance of the above transaction terms and procedures.