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FOB SELLER TANK TRANSACTION PROCEDURE FOR JURONG PORT

1. Buyer issues ICPO and Company Registration Certificate or any I.D. With TSA for Seller’s

verification.

2. Seller issue Draft Commercial Invoice, Buyer signs and returns to Seller with his Tank Storage

Agreement.

3. Seller verifies the Buyer TSA and proceed to pays the Buyer tank company for 2 days for the injection

process, Buyer pays 3 day and only after his Tank Farm Company has received the payment from

Seller Company. Seller issues NCNDA/IMFPA to the intermediary to sign.

4. Seller provides Buyer with FULL POP Documents:

A. Fresh SGS Report less than 48 hours.

B. Unconditional DIP Test Authorization

C. Injection Report.

D. Tank Storage Receipt with GPS Coordinates.

E. Tank Farm Bar-code Information.

F. Letter of Commitment to Supply.

G. Registration Certificate & Export License Copy.

H. Authority to Sell& Collect (ATSC).

I. Endorsed Injection Schedule by the buyer& buyer Tank Farm.

J. ATV – For Physical Verification.

K. Irrevocable Commitment to Supply for Spot and 12 months Contract.

L. Injection Schedule signed by Buyer &Buyer’s tank farm.

5. Buyer conducts Dip-Test in Seller’s tank, via SGS on Buyer’s expense, Seller injects the

fuel to Buyer’s tank and Buyer makes payment based on Q&Q by MT103 wire transfer / TT

according to the final Commercial Invoice.

6. Seller transfers the title of ownership as per Buyer’s instruction. Buyer lifts the product.

7. Seller pays all intermediaries involved in the transaction and subsequently monthly contract

shipment continues as per terms and conditions of the sales and purchase agreement contract

between Buyer and seller.

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