Trefina Verwaltungs AG

Trefina Verwaltungs AG ability to effectively manage the risk inherent in commodities trading and delivery is our fundamental stability. Trefina Verwaltungs AG maintains sophisticated risk management systems, processes and controls.

They cannot be wholly avoided, but can be planned for and managed. Risk policies are determined centrally, exposures are analyzed correctly, and our Internal Rules are continuously reviewed and updated.

How do Seller to start a business with us?

Trefina Verwaltungs AG* offer for Partners** its service for organization and realization of export operations for the oil and oil products on the international market in accordance with the Management Service Agreement*** and Letter of Intent from the potential exporter (Seller) with the following details:

Availability and willing of the Seller to deliver some quantity of the product to the market with the specification, possible period of delivery each party and their volume, terms of the delivery;
Documents confirms the ownerships of the Seller for this particular product;
Licenses for export of such product;
If Your Company is not original owner of the product we will need the Power of Attorney and authorization from the real owner;
Bank’s details of the Seller;
Price or price formula of the Seller.

* Trefina Verwaltungs AG commission percentage and who pays the commission, Buyer or Seller;

** (See the link How to become a Partner); https://www.trefinaverwaltungs.ch/business

*** Management Service Agreement (MSA). https://www.trefinaverwaltungs.ch/business/documents

How do Buyer to start a business with us?

Trefina Verwaltungs AG* offer for Partners** its service for organization and realization of import operations for the oil and oil products on the international market in accordance with the Management Service Agreement*** and Letter of Intent from the potential importer (Buyer) with the following details:

Product’s name, specification, total volume of the contract, time of delivery and delivery’s conditions (if any);
Import’s license;
If Your Company is not original Buyer of the product we will need the Power of Attorney and authorization from the real Buyer;
Real Buyer should present to Seller (BCL) a Bank’s information of it’s solvency and readiness to allow them the Bank’s Guarantee (BG) or open Letter of Credit (LC);
Price or price formula of the Buyer;
Bank’s details of the Buyer.

* Trefina Verwaltungs AG commission percentage and who pays the commission, Buyer or Seller;

** (See the link How to become a Partner); https://www.trefinaverwaltungs.ch/business

*** Management Service Agreement (MSA). https://www.trefinaverwaltungs.ch/business/documents

How it work after the conclusion of agreements (ex post)

Trade execution notification

Participants are notified that a trade has been executed (all required documents and contracts are definitive and signed) on a venue connected to our Management company. Execution messages are normalized and delivered from Management company (from executing Division or Administrator to all Parties of GPSC, MSA, Ass. Agree.).

Allocation calculations

Buyer (or Seller) enters allocation instructions to the executing of abent commissions to Management company. Management company performs matching against counterparty deal-trade and computes percent of commissions for average price and best fit.

Messaging and matching

Management company, normalizes and delivers messages between trade participants. Supports the key trade conditions in current deal use: executing buyer to seller, seller to buyer, of shipping agents of the Buyer and Seller, by any assignment parties and reverse give-ups.

Confirmations and Management company messaging

Execute of the Buyer to Seller sent of fund and confirmation messaging and supported matching. Buyer receives Seller trade and payment notification.

__________
Hedging__________

Trefina Verwaltungs AG applies a range of risk management tools to minimize overall exposure at any one point in time. These include: Financial derivative instruments to hedge commodity price and foreign currency exchange rate risks;Insurance to hedge various operational risks; Due diligence prior to acquisition and good management after acquisition to hedge environmental risks.

OPTION 1

QUALITY

CIF

PROCEDURE 1 CIF

(Plus EX Tank if need for Buyer/Pay Buyer)

Buyer issues bank guarantee via SWIFT MT799 to Seller

The quality of this product shall be regular NNPC standard and export grades of Bonny Light Crude Oil, Nigeria origin.

NNPC Technical Specifications above:

1) The Parties agree and sign the Purchase and Sale Contract.

2) The Seller send to the Buyer pro-forma invoice for the first deal trial Quantity 4 000 000.00 bblls with details about appropriate tank's cargo that is available for sale to the Buyer.

3) The Buyer gives an application to their issuing bank to issue a confirming pre-advice about the bank guarantee set up for 180 days to secure payment for the tank cargoes delivered by the Seller to the Buyer under this Contract - within 24 hours after receipt by the Buyer of a pro-forma invoice from the Seller.

4) The Buyer's bank issues to the Seller's bank pre-advise about bank guarantee via SWIFT MT799.

5) The Seller undertakes to make and deliver to the Buyer Dip Test Authorization letter (DTA) and Authority (Mandate) to sell and collect the sales cash proceedings issued by the Cargo Provider (NNPC) in Buyer's name within 24 hours after receiving by the Seller's bank pre-advise about bank guarantee from the Buyer's bank. The Seller (NNPC) issued Acknowledgement Letter to the Buyer stating therein Tank Farm manager's phone number and e-mail address with the physical location of the storage tank to the Buyer via NNPC domain secure e-mail for the Buyer to do Dew Diligence communication.

6) The Buyer opens communication with Tank Farm Manager via e-mail/telephone to confirm availability of product in storage tank.

7) The Seller prepares and sends to the Buyer a draft Cargo Annex (in the format as shown in the Annex No.3 to this Contract) for the particular tank cargo for sell.

8) The Parties negotiate and sign the Cargo Annex to the Contract via e-mail - within 24 hours after receipt of the draft Cargo Annex to the Contract.

9) The independent inspector nominated by the Buyer comes and boards the onshore/offshore tank and conducts an inspection to verify the quality and measure the quantity of the tank's cargo delivered - within 24 hours after the parties signed the appropriated Cargo Annex.

10) After completion of the inspection operation the independent inspector issues the certificates of quality and quantity of the cargo stored in the tank and makes them immediately available to the Parties to the Contract - within 12 hours after completion of the cargo inspection operation on board of the tank.

11) The Buyer’s Bank blocks the necessary money funds at a special bank guarantee deposit account, issues an agreed Bank Guarantee Advice and sends it in SWIFT MT760 format to the bank specified by the Seller (either in the Contract or in the pro-forma invoice) for verification and approval as perform at shown in the applicable Annex 2-BG of PSC.

12) Upon completion of verification and receipt of approval the Seller’s bank advises the Seller that the Buyer’s Bank has set up the Bank Guarantee and that the delivery of the tank's cargo is fully secured - within 12 hours after receipt of a payment security instrument by the Seller’s accepting Bank.

13) The Seller within 24 hours after verification and receipt the Bank Guarantee from the Seller's bank submits to the Buyer a set of tank cargo documents (POP) issued for the name of the Buyer and an authority to verify (ATV) the POP documents directly with the tank farm’s manager:

a) Certificate of Origin;

b) Tank storage receipt (TSR).

c) Certificates of Quality and Quantity (Q&Q Certificates) made at the port of loading.

d) others.

14) The Shipping agent of the Buyer verifies the cargo documents directly with the tank farm's manager and confirms their authenticity - within 24 hours after receipt of a set of cargo documents by the Buyer.

15) The parties and their shipping agents/ forwarders/port agents start working communication to ensure the operations of discharge crude oil from Seller's tanks.

16) The Seller issues and sends to the Buyer a commercial invoice and a set of payment documents specified in the section 9 of the Contract on the full value of the vessel’s cargo computed as stipulated in the Contract immediately after the Seller’s receipt of the tank's cargo acceptance report issued by Discharge terminal operator.

17) The Buyer accepts the commercial invoice and the set of payment documents from the Seller and gives the order to their bank to pay the invoice in full - within 2 working hours after the Buyer’s receipt of the commercial invoice from the Seller via direct bank's payment in format SWIFT MT103.

18) The Buyer’s Bank effects the payment of the Seller’s commercial invoice as per the order of the Buyer - within 24 hours after the Buyer’s Bank receives the order to pay the Seller’s commercial invoice.

19) The Seller’s Bank receives the payment from the Buyer’s Bank and immediately advises the Seller about completion of the payment transaction.

20) Tank starts a discharge operation - immediately after the Seller's bank received the payment from the Buyer's bank.

21) Tank completes a discharge operation - within the time stipulated for the discharge operation in the cargo annex.

22) Discharging terminal’s Operator issues report based on measurement of the commodity passed to an Tank(s) manifold exit point of a reservoir of an onshore/offshore terminal and makes them immediately available to the Parties to the Contract - within 12 hours after completion of discharge operation.

23) The Seller assigns the title for the cargo to the Buyer. The Seller issued payment receipt to the Buyer and hard copies of full cargo documents (total original and copies) send to the Buyer via the Courier Services immediately after discharged operation.

The Buyer pays commission to the Trefina Verwaltungs AG in according with appropriated signed Commission Agreement within 24 hours after completion of discharge operation via direct bank's payment in format SWIFT MT103.

_______________________________________________________________________________________

EXAMPLE RWA MT-799

READY WILLING AND ABLE LETTER ISSUED BY THE BUYER’S BANK

MUST BE ISSUED ON THE OFFICIAL BANK LETTER HEAD

Date: 日期：

To: 致：

Attn: 收件人：

SPC Transaction Code: 合同交易代码:

We, the Bank of China, xxxx Branch with address: #XX, XX street., XX City, XX Province, China, hereby confirm with full banking responsibility and liability that our client ХХХХХХХХХХХХLtd., represented by Mr. ХХХ ХХХ, CEO, ID number No. xxxxx China, has the facilities with us and has the financial capability to fulfil its full financial commitment of the above Contract for the purchase of one million barrels of crude oil.

我们, 中国XX银行XX分行,地址: XX省,XX市,XX路, XX号, 在此以全部银行责任和义务确认我们的客户XXX有限公司,代表人XXX, 中国身份证号……在我处持有信贷并有金融能力履行以上1百万桶原油合同的金融承诺.

We guarantee to issue the payment of the purchase of the said crude oil by the means of electronic transfer via SWIFT MT103 or by normal telegraph transfer (TT) to the Beneficiary after dip test and discharge of the crude oil from a vessel to the designated tanks in Qingdao (Huandao) Port, China upon your presentation of the set of payment documents: (1) commercial invoice (original) accepted by our client; (2) certificate of quantity (copy); (3) certificate of quality (copy)

在对中国青岛港储罐卸货的油进行商检卸货后, 提供我们客户签发的付款用卸货原件,发票及货权文件时,我们保证为此油采购通过开具MT103或TT给受益人支付款项。

For and on behalf of Bank of China, xxxxx Branch, China. 中国XX银行XX分行

Officer 1: 官员1:

Name: 姓名:

Position: 职务:

Officer 2: 官员2:

Name: 姓名:

Position: 职务:

_______________________________________________________________________________________

ADVICE FOR A BANK (PAYMENT) GUARANTEE

Draft verbiage for MT760 bank guarantee advice to be made by the Issuing Buyer’s Bank

Guarantee Number: <insert number>

Date of issue: <insert date>

Date of expire: <insert date>

From:

Applicant/ Buyer: Rxxxxx Lxxx Exxxxx Company Limited.

Issuing Bank: Industrial and Commercial Bank of China.

To:

Beneficiary/ Seller: Txxxxx International Nigeria Limited.

Advising Bank: INDUSIND BANK

Currency: USD or EUR

Face value: <insert value>

BANK GUARANTEE OF PAYMENT

We, Industrial and Commercial Bank of China, located at <insert Issuing bank address to be inserted by the Buyer>, represented by the undersigned officers, with full bank responsibility and liability by the order and for the account of the applicant Rizhao Lvtu Energy Co. Limited., herby advise you that the we issue:

The bank guarantee (stand-by letter of credit)number <insert the proforma invoice number>in favour of the Beneficiary for an amount of:

<insert exact value><Sample: One hundred million US dollars (US$ 100.000.000=).>

stated in the pro-forma invoice number: <insert the proforma invoice number>dated on: <insert proforma invoice date>by the Beneficiary as stipulated in the contract number: PSC-ххххххх8-001-EXTANK-RLE-BLCO made between the Beneficiary as the Seller and the Applicant as the Buyer.

Valid until: <insert the date of expire = date of issue + 180 days inclusively>

Within the validity of this bank guarantee we irrevocably promise to pay the total value of the commercial debts unpaid by the Buyer in due time against presentation at our counters by the Seller of the following original documents (Payment documents):

A. For the commodity delivered by the Beneficiary:

(1) Debit Note issued by the Beneficiary for payment of the outstanding commercial debts unpaid in due time by the Buyer under the contract number PSC-хххххххх8-001-EXTANK-RLE-BLCO.

(2) Commercial invoices issued by the Beneficiary and accepted by the Applicant under the contract number PSC-ххххххх8-001-EXTANK-RLE-BLCO which have not been paid by the Applicant in due time.

(3) Certificate of Quality issued by the inspector nominated by the Buyer at the port of destination.

(4) Discharge report (or its equivalent) issued by the Discharging terminal’s Operator.

B. For the penalties and claims which may become due to the Beneficiary:

(1) Debit Note issued by the Beneficiary for payment of the penalties and claims accepted by the Applicant under the contract number PSC-ххххххх8-001-EXTANK-RLE-BLCO.

(2) Copies of the documents justifying the penalties and claims imposed to the Applicant by the Beneficiary.

Special conditions:

(1) Photocopies instead of copies of documents acceptable.

(2) Partial shipments not allowed.

(3) Trans-shipments are prohibited.

(4) Spelling mistakes/ typing errors shall not be considered as discrepancies except for figures.

(5) Opening bank charges and commissions are for applicant's account. All others, if any, including fees outside of applicant`s bank, are for beneficiary's account.

(6) Third party documents acceptable except for commercial invoice.

(7) Presentation of more than one set of documents acceptable.

(8) All original documents to be remitted in one set by special courier to; (bank TBA), attn. Mr. …………/ LC dept - ac4

Please advise beneficiaries without adding your confirmation.

This bank guarantee is an operative, unconditional, fully confirmed, non-transferable, divisible and callable instrument and may be verified on a bank-to-bank basis in accordance with the uniform customs and practice for such credit instruments as published by the I.C.C. publication Paris (latest revision) and governed by the laws of Switzerland.

For and on behalf of: Industrial and Commercial Bank of China,

Bank officer and title: <insert name>

SIGNATURES OF THE PARTIES

On behalf of The Seller

Tхххххх International Nigeria Limited.

On behalf of The Buyer

Rххххх Lххх Eхххх Company Limited.

OPTION 2

EX TANK FARM

PROCEDURE 2 CIF Spot

Buyer issues MT199-POF to Seller

CIF AWSP Transaction Procedure

CIF AWSP交易程序

Buyer issues ICPO along with scanned copy of Corporate Registration and Undersigned Passport data sheet.

买方发出ICPO，连同公司注册和签署人的护照信息页面扫描件。

Seller issues draft copy of Sales Purchase Agreement (SPA), Buyer signs and returns to Seller SPA.

卖方发出销售购买协议(SPA)的草稿本，买方签署并返回给卖方SPA。

Seller provides Export License to Buyer – for Buyer to confirm ability of Seller for Export.

卖方向买方提供出口许可证，以便买方确认卖方的出口能力。

All parties sign NCNDA/IMFPA commission protection agreement.

各方签署NCNDA / IMFPA佣金保护协议。

Seller appoints Russian Charter Company whereby both parties seal the CPA, Seller will invite Buyer to witness vessel loading. After the Bill of Lading copy received by the Buyer, Buyer will provide to both the discharge port agent and Seller full contract details.

卖方指定俄罗斯租船公司，双方在合同上盖章，卖方将邀请买方见证装船过程。买方收到提单副本后，将向卸货港代理人和卖方提供完整的合同细节。

Upon loading finish, Seller send POP (Hard Copy) to Buyer via Government courier (cost absorbed by Seller):

装运完成后，卖方通过政府快递将POP(纸质版)寄给买方(费用由卖方承担):

- - Certificate of Origin

产地证

- - Copy of Export License issued by Russian Ministry of Energy

俄罗斯能源部颁发的出口许可证复印件

- - Copy of Q&Q certificates as issued at loading port by an independent surveyor company nominated by Seller

由卖方指定的独立检验公司在装货港签发的品质检验证书副本

- - Ullage report identification of the loaded cargo with quantity expressed in Metric Tonnes

用公吨表示的装载货物的空余量报告

- - Copy of Ocean Bill of Lading made out “Clean on Board” marked “Freight Prepaid”

注明“运费已付”的“清洁已装船”海运提单副本

- - Signed commercial invoice showing quantity, quality survey result, vessel name and loading completion date

注明数量、质量检验结果、船名和装船完成日期的已签字商业发票

- - Copy of Charter party Agreement

租船合同副本

- - Q88 Vessel details

Q88船舶细节

- - Authority to Sell and Collect (ATSC)

销售和收款授权（ATSC）

Buyer issues MT199-POF to Seller as delivery commencement is ongoing.

随着交货开始，买方向卖方发出MT199-POF (资金证明)。

Upon vessel arrival at loading port, Seller proceed to issue the following documents to Buyer:

船舶到达装货港后，卖方继续向买方签发以下文件：

- - Statement of Availability of the product

产品的可供应声明

- - Letter of Commitment to Supply

供货承诺书

- - Notarized product passport with Ministry of Energy

经能源部认证的产品护照

- - Notarized contract with Ministry of Energy

与能源部签订的公证合同

- - Allocation transaction passport code certificate

分配交易护照代码证明书

- - Vessel loading schedule

船只装载时间表

Vessel set on voyage to Buyer discharge port and upon arrival Seller provides Buyer with:

开往买方卸货港的船舶，到港后卖方向买方提供：

Dip Test Authorization

浸没试验授权

ATB for Inspection according to SGS/CIQ standards

登船许可证进行SGS / CIQ检查

Within three to five banking days after CIQ inspection, Buyer executes payment TT or MT103 in USD against title transfer

在出入境检验检疫局检查后的三到五个工作日内，买方以所有权转让的方式执行美元TT或MT103付款。

11For each delivery lot, Seller pays commission to all Intermediaries as per ICC NCNDA/IMFPA within 3 days.

对于每个交货批次，卖方均应在3天内按照ICC NCNDA / IMFPA向所有中介支付佣金。

MT199 EXAMPLE

SENDER: TRANSACTION CODE:

FROM: SENDER: BANK NAME : BANK ADDRESS : SWIFT CODE : BANK OFFICER :

ACCOUNT NAME : ACCOUNT NUMBER:

RWA/MT199 VIA SWIFT

TO: RECEIVING BANK: BANK NAME : BANK ADDRESS : ACCOUNT NAME: ACCOUNT

NO: SWIFT CODE: ACCOUNT OFFICER: BANK EMAIL:

WE (SENDING BANK ) HERBY CONFIRM WITH FULL BANK RESPONSIBILITY THAT OUR CLIENT XXXXXXXXX HAS AVAILABLE FUNDS IN ACCOUNT NO' XXXXXXXX THE SUM OF $70 000 000.00 SEVENTY MILLION US DOLLARS),WHICH IS FREELY TRANSFERABLE AND LEGALLY EARNED GOOD CLEAN AND CLEARED FUNDS OF NON CRIMINAL ORIGIN. FREE OF ANY LIENS OR ENCUMBRANCE AND ARE READY WILLING AND ABLE TO PURCHASE BONNY LIGHT CRUDE OIL IN THE QUANTITY OF 2,000,000 BBLS (TWO MILLION BARRELS) OFFERED FOR SALE IN THE CONTRACT REFERENCE; ****** AND TRANSACTION CODE: , BETWEEN ELLERS*XXXXXXXXX, AND BUYERS XXXXXXXXXX

> FOR AND ON BEHALF OF (BANK NAME) > AUTHORIZED BANK OFFICER NAME >

TITLE,

THE AUTHENTICITY AND VALIDITY OF THIS BANK CONFIRMATION LETTER CAN BE

CONFIRMED BY RESPONSIBLE BANK INQUIRY.

TELEPHONE: SIGNATURE > PIN CODE

AUTHORIZED BANK OFFICER NAME: TITLE,

TELEPHONE:

SIGNATURE: PIN CODE

OPTION 3

FOB

PROCEDURE 3 EXW Tank Farm-Tank Farm

(Plus FOB if need for Buyer-Pay Buyer)

Contract parameters

Product: Jet Fuel A1

Origin: Any proved commodity provider.

Specification: As per manufacturer’s export specification.

Trial shipment: 2,000,000 bbs in December 2020.

Contract Quantity 2021: Delivered within 12 months: min. 24,000,000 bbs – max. 60,000,000 bbs

Monthly shipment 2021: min. 2,000,000bbs – max. 5,000,000 bbs

Delivery term: Tank-to-Tank (For Example) Rotterdam port or FOB

Contract price: xx,00$/barrel fixed for the trial cargo in December 2020.

Q&Q Inspection: SGS/ Saybolt/ Intertek (or equivalent)

Payment terms: Dip and Pay

Payment mode: Payment MT103 at sight against the payment documents before transfer cargo.

Payment documents: Commercial invoice + Dip test report.

Information of the Buyer:

Company name:

Company address:

Authorized director CEO:

Phones: Web site: E-mail:

Bank information:

The Procedures for the terms Tank-to-Tank (Dip and Pay):

1. In return to this ICPO the Seller sends to the Buyer a commercial invoice.

2. The Buyer accepts, signs and returns the signed commercial invoice along with their Tank Storage Agreement (TSA) for the Seller to Verify.

3. Upon receipt of the countersigned commercial invoice and TSA from the Buyer, the Seller issues the following documents to the Buyer:

a. Tank Storage Receipt (TSR)

b. Product Passport (Quality & Quantity analysis)

c. Certificate of Ownership/ Authorization (Mandate) to Sell (ATS)

4. Upon receipt of the above listed documents the Buyer presents a valid tank storage receipt.

5. The Seller issues to the Buyer Dip Test Authorization (DTA) to enable the Buyer to undertake their dip test in the Seller's tanks, by SGS, at the Buyer's expense.

6. Upon successful dip test result, the Buyer makes full payment for the liftable quantity as per SGS report, via MT103 TT, and the Seller passes to the Buyer the title of ownership along with all export documents.

7. The Seller immediately commences injection of the product into the Buyer's tanks.

8. Both parties sign a term Master sales and purchase agreement (MSPA) and provisional delivery plan for 2021.

9. The Seller and Buyer sign the special cargo attachment to the MSPA for the next cargo programmed for delivery.

NOTE : WE WILL PROVIDE CPA & Q88 AFTER VERIFY THE PRODUCT IMMEDIATELY

We shall appreciate if you consider of the proposed procedures and return to us with your comments and approval.

This document underlies the legal basis for transferring the given names, volumes, values and other sufficient details into a draft prepared commercial invoice and/ or a commercial contract. This ICPO has been prepared and submitted in one original.

All previously issued documents are invalid.

EXW Tank Farm-Tank Farm

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OPTION 1

PROCEDURE 1 CIF

(Plus EX Tank if need for Buyer/Pay Buyer)

Buyer issues bank guarantee via SWIFT MT799 to Seller

The quality of this product shall be regular NNPC standard and export grades of Bonny Light Crude Oil, Nigeria origin.

NNPC Technical Specifications above:

1) The Parties agree and sign the Purchase and Sale Contract.

2) The Seller send to the Buyer pro-forma invoice for the first deal trial Quantity 4 000 000.00 bblls with details about appropriate tank's cargo that is available for sale to the Buyer.

4) The Buyer's bank issues to the Seller's bank pre-advise about bank guarantee via SWIFT MT799.

6) The Buyer opens communication with Tank Farm Manager via e-mail/telephone to confirm availability of product in storage tank.

7) The Seller prepares and sends to the Buyer a draft Cargo Annex (in the format as shown in the Annex No.3 to this Contract) for the particular tank cargo for sell.

8) The Parties negotiate and sign the Cargo Annex to the Contract via e-mail - within 24 hours after receipt of the draft Cargo Annex to the Contract.

9) The independent inspector nominated by the Buyer comes and boards the onshore/offshore tank and conducts an inspection to verify the quality and measure the quantity of the tank's cargo delivered - within 24 hours after the parties signed the appropriated Cargo Annex.

13) The Seller within 24 hours after verification and receipt the Bank Guarantee from the Seller's bank submits to the Buyer a set of tank cargo documents (POP) issued for the name of the Buyer and an authority to verify (ATV) the POP documents directly with the tank farm’s manager:

a) Certificate of Origin;

b) Tank storage receipt (TSR).

c) Certificates of Quality and Quantity (Q&Q Certificates) made at the port of loading.

d) others.

14) The Shipping agent of the Buyer verifies the cargo documents directly with the tank farm's manager and confirms their authenticity - within 24 hours after receipt of a set of cargo documents by the Buyer.

15) The parties and their shipping agents/ forwarders/port agents start working communication to ensure the operations of discharge crude oil from Seller's tanks.

17) The Buyer accepts the commercial invoice and the set of payment documents from the Seller and gives the order to their bank to pay the invoice in full - within 2 working hours after the Buyer’s receipt of the commercial invoice from the Seller via direct bank's payment in format SWIFT MT103.

18) The Buyer’s Bank effects the payment of the Seller’s commercial invoice as per the order of the Buyer - within 24 hours after the Buyer’s Bank receives the order to pay the Seller’s commercial invoice.

19) The Seller’s Bank receives the payment from the Buyer’s Bank and immediately advises the Seller about completion of the payment transaction.

20) Tank starts a discharge operation - immediately after the Seller's bank received the payment from the Buyer's bank.

21) Tank completes a discharge operation - within the time stipulated for the discharge operation in the cargo annex.

23) The Seller assigns the title for the cargo to the Buyer. The Seller issued payment receipt to the Buyer and hard copies of full cargo documents (total original and copies) send to the Buyer via the Courier Services immediately after discharged operation.

The Buyer pays commission to the Trefina Verwaltungs AG in according with appropriated signed Commission Agreement within 24 hours after completion of discharge operation via direct bank's payment in format SWIFT MT103.

_______________________________________________________________________________________

EXAMPLE RWA MT-799

READY WILLING AND ABLE LETTER ISSUED BY THE BUYER’S BANK

MUST BE ISSUED ON THE OFFICIAL BANK LETTER HEAD

Date: 日期：

To: 致：

Attn: 收件人：

SPC Transaction Code: 合同交易代码:

我们, 中国XX银行XX分行,地址: XX省,XX市,XX路, XX号, 在此以全部银行责任和义务确认我们的客户XXX有限公司,代表人XXX, 中国身份证号__……__在我处持有信贷并有金融能力履行以上1百万桶原油合同的金融承诺.

在对中国青岛港储罐卸货的油进行商检卸货后, 提供我们客户签发的付款用卸货原件,发票及货权文件时,我们保证为此油采购通过开具MT103或TT给受益人支付款项。

For and on behalf of Bank of China, xxxxx Branch, China. 中国XX银行XX分行

Officer 1: 官员1:

Name: 姓名:

Position: 职务:

Officer 2: 官员2:

Name: 姓名:

Position: 职务:

_______________________________________________________________________________________

ADVICE FOR A BANK (PAYMENT) GUARANTEE

Draft verbiage for MT760 bank guarantee advice to be made by the Issuing Buyer’s Bank

Guarantee Number: <insert number>

Date of issue: <insert date>

Date of expire: <insert date>

From:

Applicant/ Buyer: Rxxxxx Lxxx Exxxxx Company Limited.

Issuing Bank: Industrial and Commercial Bank of China.

To:

Beneficiary/ Seller: Txxxxx International Nigeria Limited.

Advising Bank: INDUSIND BANK

Currency: USD or EUR

Face value: <insert value>

BANK GUARANTEE OF PAYMENT

The bank guarantee (stand-by letter of credit)number <insert the proforma invoice number>in favour of the Beneficiary for an amount of:

<insert exact value><Sample: One hundred million US dollars (US$ 100.000.000=).>

stated in the pro-forma invoice number: <insert the proforma invoice number>dated on: <insert proforma invoice date>by the Beneficiary as stipulated in the contract number: PSC-ххххххх8-001-EXTANK-RLE-BLCO made between the Beneficiary as the Seller and the Applicant as the Buyer.

Valid until: <insert the date of expire = date of issue + 180 days inclusively>

Within the validity of this bank guarantee we irrevocably promise to pay the total value of the commercial debts unpaid by the Buyer in due time against presentation at our counters by the Seller of the following original documents (Payment documents):

A. For the commodity delivered by the Beneficiary:

(1) Debit Note issued by the Beneficiary for payment of the outstanding commercial debts unpaid in due time by the Buyer under the contract number PSC-хххххххх8-001-EXTANK-RLE-BLCO.

(2) Commercial invoices issued by the Beneficiary and accepted by the Applicant under the contract number PSC-ххххххх8-001-EXTANK-RLE-BLCO which have not been paid by the Applicant in due time.

(3) Certificate of Quality issued by the inspector nominated by the Buyer at the port of destination.

(4) Discharge report (or its equivalent) issued by the Discharging terminal’s Operator.

B. For the penalties and claims which may become due to the Beneficiary:

(1) Debit Note issued by the Beneficiary for payment of the penalties and claims accepted by the Applicant under the contract number PSC-ххххххх8-001-EXTANK-RLE-BLCO.

(2) Copies of the documents justifying the penalties and claims imposed to the Applicant by the Beneficiary.

Special conditions:

(1) Photocopies instead of copies of documents acceptable.

(2) Partial shipments not allowed.

(3) Trans-shipments are prohibited.

(4) Spelling mistakes/ typing errors shall not be considered as discrepancies except for figures.

(5) Opening bank charges and commissions are for applicant's account. All others, if any, including fees outside of applicant`s bank, are for beneficiary's account.

(6) Third party documents acceptable except for commercial invoice.

(7) Presentation of more than one set of documents acceptable.

我们, 中国XX银行XX分行,地址: XX省,XX市,XX路, XX号, 在此以全部银行责任和义务确认我们的客户XXX有限公司,代表人XXX, 中国身份证号……在我处持有信贷并有金融能力履行以上1百万桶原油合同的金融承诺.