Buyer-Seller Transaction Procedures

1. Buyer issues ICPO upon acceptance of seller’s procedure + TSA for seller verification.
2. Seller issues Commercial Invoice (CI), and Tank to Tank Injection Agreement (TTTIA), which must be signed by the buyer and buyer storage tank farm.
3. Buyer signs and returns Commercial Invoice (CI) + TTTIA and NCNDA + IMFPA.
4. Seller legalizes the CI + TTTIA and provides buyer with legalized documents + listed PPOP:
   • Product Passport (Product Analysis Report)
   • Irrevocable Commitment Letter to Supplier
   • SGS Report
   • Injection Report
   • Legalize TTTIA
   • ICC Warning Letter
   • ATSC (Authority to Sell and Collect)
5. Buyer Dip Test the product to confirm the Q&Q of the products.
6. Seller within 4 working days injects the product into the buyer’s tank according to the signed TTTIA.
7. Buyer makes the payment for the total cost of the product injected into buyer tanks via MT103. Seller transfers the title of ownership to the buyer with all exportation documents required of buyer for the transaction.
8. Seller and buyer sign one-year contract upon conclusion of first lift transactions. Seller pays the commission according to the signed NCNDA + IMFPA.