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Trial Quantity: 400 kilograms

 1.Commodity
* Product: Refined Gold Bullion (AU)
* Purity: Minimum 99.95%
* Form: Kilobars
* Origin: Thailand
* Delivery Term: FOB Thailand
* Assay & Inspection: To be conducted in Bangkok by Buyer’s appointed assayer

2. Quantity
* Trial Quantity: 400 kilograms (available for immediate shipment)
* Annual Supply: 1,200 kilograms weekly for 12 months (total 62,400 kg)

3. Price & Profit Sharing
* Base Price: 15% discount from the LBMA prevailing price
* Gross Profit Distribution:
o 1.5% to Buyer team
o 1.5% to Seller team
* IMFPA: 3% to be shared 50/50 between intermediaries, calculated from the net value after deductions
* Special Note: Commission acknowledged and respected

4. Payment Terms
* Instrument: Transferable, Irrevocable Letter of Credit (LC MT700)
* Issuing Bank: XXX Bank, Thailand (on behalf of Buyer)
* Receiving Bank: Bangkok Bank, Thailand

* Buyer to send draft TLC verbiage 
* Finance Coverage: Buyer shall allocate funds to cover 3 months of supply

5. Transaction Procedure – FOB (No SBLC)
1. Buyer issues ICPO
2. Seller issues Proforma Invoice / SPA
3. Buyer issues Transferable LC MT700 to Seller’s Bank
4. Buyer conducts inspection and assay in Bangkok
5. Ferrari Security issues Letter of Undertaking for legal export
6. Buyer remits payment via MT103/TT
7. Seller transfers ownership/title to Buyer
8. Ferrari Security arranges export if required
9. Annual SPA proceeds with weekly delivery of 1,200 kg x 52 week

6. IMFPA & Commission
* Separate IMFPA agreements for Buyer and Seller intermediaries
* Payment of commissions to be completed within 48 hours of each transaction
* Commission distribution per executed IMFPA

7. Alliance Agreement
* The Alliance Agreement may be amended by mutual consent
* If no amendments are needed, both parties shall sign and proceed with the cooperation

8. Preparation for Trial Quantity (400 kg)
1. Sign and seal the Alliance Agreement
2. Buyer confirms issuance of Transferable LC to Global Wave Energy Ltd
3. Buyer sends draft LC text 
4. Buyer allocates finance quota for 3-month supply
5. Buyer submits ICPO to initiate the transaction

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