TITLE TAKE OVER (TTO) – NON-NEGOTIABLE PROCEDURES

NOTE: READY VESSEL LOCATION ON-SITE AT MEDITERRANEAN SEA / RED

SEA AND GULF OF ADEN REGION AND READY TO RE-ROUTE TO ANY SAFE
WORLD PORTS (ASWP)
1. SELLERS ISSUE FULL CORPORATE OFFER (FCO) INDICATING PRICE, MINIMUM ORDER QUANTITY, PAYMENT TERMS AND NON-
NEGOTIABLE PROCEDURE.

2. BUYER’S ISSUES IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO) ADDRESSED TO THE SELLER ALONG WITH COMPANY
PROFILE/CIS (CLIENT INFORMATION SHEET), AND COPY OF BUYER PASSPORT. ON ICPO BUYER HAS TO INSERT THE
SELLER NON-NEGOTIABLE PROCEDURE.

3. AFTER BUYER COMPANY’S DUE DILIGENCE, SELLER ISSUES DRAFT OF THE DRAFT CONTRACT (SPA) AND COMMERCIAL INVOICE
(CI) TO BUYER, AND WITHIN 24HOURS (OR FASTER), BUYER SIGN, SEALS AND RETURNS TO SELLER THE DRAFT CONTRACT IN MS
WORD.

4. WITHIN 24 HOURS AFTER RECEIVE THE ENDORSED SIGNED CONTRACT, BUYER’S BANK SHOULD ISSUES PRE-ADVISE MT799
RWA OR PROOF OF FUND (VERBIAGE IS ATTACHED AS ANNEX ON THE SPA) TO THE SELLER BANK VIA SWIFT AND EMAIL
INFORMING READINESS OF BLOCK FUND FOR THIS TRANSACTION ALSO AGREEDTO ISSUE:
TRANSACTION GUARANTEE:
PRODUCT ALLOCATION / TRANSACTION GUARANTEE by IRREVOCCABLE, TRANSFERABLE, FULLY CASH
VALUE BACKED BG/SBLC MT 760 FROM THE TOTAL PRODUCT VALUE and PAYMENT SETTLEMENT VIA
MT103/TT AFTER DIP-TEST AT DICHARGE PORT (MINIMUM VALUE IS 10% FROM THE TOTAL VALUE)

5. AFTER RECEIVE ACKNOWLEDGE STATUS NOTIFICATION OF PRE-ADVISE MT799 RWA or PROOF OF FUND FROM SELLER
BANK/SELLER, WITHIN 48 HOURS, THE BELOW REFINERY ORIGINAL PPOP DOCUMENTS (STILL UNDER SELLER AND/OR
REFINERY NAME) ALONG WITH NCNDA & IMFPA VIA EMAIL (ONLY FOR VERIFICATION PURPOSE NOT FOR BANKING
PROCESS/PRESENTATION:
A. COPY OF PRODUCT QUALITY PASSPORT QUALITY CERTIFICATE.
B. COPY OF CERTIFICATE OF PRODUCT ORIGIN.
C. COPY OF Q88 (INCLD. THE IHE VESSEL IMO REGISTRATION NUMBER)
D. COPY OF CARGO MANIFEST / ULLAGE REPORT
E. COPY OF BILL OF LADING (ALL CONTACT INFO WILL BE BLOCKED / BLURRED AND WILL BE REVEALING WHEN
THE BUYER BANK INSTRUMENT IS CONFIRMED RECEIVE BY OUR BANK).

6. UPON RECEIVE THE ABOVE DOCUMENTS BUYER SHOULD SEND THEIR VESSEL INFORMATION THAT WILL RECEIVED THE
PRODUCTS (IF STS TRANSFER) AND LETTER OF CONFIRMATION /ATESTATION (FOR ON-SHORE TANK STORAGE
TRANSFER) FROM BUYER TANK STORAGE COMPANY STATED THE READINESS TO RECEIVE THE PRODUCTS AT THE DESTINATION
PORT AND SHALL ISSUES:
TRANSACTION GUARANTEE:
PRODUCT ALLOCATION / TRANSACTION GUARANTEE by IRREVOCCABLE, TRANSFERABLE, FULLY CASH
VALUE BACKED BG/SBLC MT 760 FROM THE TOTAL PRODUCT VALUE and PAYMENT SETTLEMENT VIA
MT103/TT AFTER DIP-TEST AT DICHARGE PORT (MINIMUM VALUE IS 10% FROM THE TOTAL VALUE)

7. UPON RECEIPT NOTIFICATION AND CONFIRMATION FROM SELLER BANK REGARDING OF THE PAYMENT FOR PRODUCT ALLOCATION /
TRANSACTION GUARANTEE; SELLER'S WILL BE ISSUE:
A. COPY OF DIP TEST AUTHORIZATION
B. COPY OF AUTHORIZATION TO VERIFY PHYSICALLY THE PRODUCT IN SELLER VESSEL (ATV) / ATB
(AUTHORIZATION TO BOARD)

8. AND WILL ARRANGE THE RE-ISSUANCE OF BELOW DOCUMENTS, TO NON-SANCTIONED COUNTRIES COO AND BILL OF
LADING DOCUMENTS UNDER BUYER’S NAME AND SENT THE COPY VIA EMAIL AS LISTED BELOW:
A. COPY OF CERTIFICATE OF ORIGIN (KAZAKHSTAN OR OTHER NON-SANCTIONED COUNTRIES COO)
B. COPY OF BILL OF LADING

9. WHILE ARRANGING THE RE-ISSUANCE OF ABOVE DOCUMENTS, SELLER WILL RE-ROUTE THE VESSEL FROM HER
ANCHORAGE LOCATION TO AGREED NOMINATED AT DESTINATION PORT (FOR EXAMPLE TO FUJEIRAH 7 TO 14 SAILING
DAYS, ETA DESTINATION PORT IS DEPEND ON HOW FAR FROM THE ANCHORAGE COORDINATE OF THE VESSEL); BUYER
SHOULD BORNE ALL COST INCLUDING ALL DUTIES/TAXES/FEES DETERMINED BY PORT AUTHORITIES;

10. UPON VESSEL ARRIVAL AT BUYER DESTINATION PORT OR STS COORDINATE AT IPL DESTINATION PORT, THE SELLER AND THE
SHIPPING AGENT COMPANY SHALL SEND THE DOCUMENTS REQUIRED FOR CUSTOM MARITIME FILING TO THE BUYER’S FREIGHT
AGENT COMPANY, COOPERATE WITH THE BUYER’S FREIGHT AGENT TO COMPLETE THE MARITIME FILING AND OBTAIN THE PORT
ENTRY WORK PERMIT (CIQ). AND THE SELLER IS ALLOWING BUYER TO ON-BOARD SELLER VESSEL TO CONDUCT DIP TEST WITH
THEIR NOMINATED INSPECTION COMPANY (SGS/INTERTEK/AMSPEC);

11. AFTER DIP TEST WITH POSITIVE RESULT, BUYER SHOULD PAY THE WHOLE PRODUCT VALUE VIA MT 103/TT TO SELLER
NOMINATED BANK AND SEND PROOF OF TRANSFER TO SELLER AND SELLER WILL COMMENCE THE PRODUCT INJECTION TO
BUYER VESSEL (IF STS) OR BUYER ON-SHORE TANK TERMINAL. ALL COST/DUTY/FEE FOR STS OPERATION SHOULD BE BORNE
BY THE BUYER;

12. AFTER SELLER GOT CONFIRMATION OF FUND RECEIVED FROM THEIR BANK, THEN SELLER HANDOVER THE TITLE OF PRODUCT
OWNERSHIP AND ALL ORIGINAL DOCUMENTS TO BUYER;

13. SELLER PAYS COMMISSION WITHIN 48 HOURS BY SWIFT MT103 TO ALL INTERMEDIARIES AS SIGNED NCNDA /IMFPA. THE
NEXT DELIVERY SHALL COMMENCE ACCORDING TO THE TERMS AND CONDITIONS OF THE CONTRACT.