The goods:
Russian GAS Oil D-2

600 000 () MT per year
Ten Percent (10%) below Rotterdam Platts
FOB Black Sea port Novorossiysk
Buyer sets and pays commission after LOI
SL/C (covering 2 month quantity) or Irrevocable Confirmed, Non-Transferable Revolving DLC from a prime world bank
According to the terms of the contract, to be mutually agreed upon by Buyer & Seller
According to the terms of the contract, to be mutually agreed upon by Buyer & Seller
Procedure:
1 Buyer issues ICPO with soft probe and NCNDA/IMFPA to Seller.
2 Seller sends draft contract (open for amendments) to Buyer. Buyer makes
amendments marked in RED and returns to Seller for review and acceptance.
3 Seller and Buyer lodge fully signed and sealed contract with their respective Bank.
4 Seller's Bank sends by SWIFT Partial POP consisting of SGS Report, Dip Test
Authorization and Tank Storage Receipts OR Ocean Bill of Lading, SGS Report,
CPA/Q88, and Authority to Board (ATB) to Buyer's Bank in favour of Buyer.
5 Buyer verifies Partial POP and Buyer's Bank issues SWIFT MT103/23 for all

liftable product and IRREVOCABLE CONFIRMED REVOLVING DOCUMENTARY

LETTER OF CREDIT (IRDLC) for the value of the monthly delivery to Seller's Bank in

favour of Seller.



6 Seller's Bank sends FULL POP to Buyer's Bank in favour of Buyer.



7 Buyer completes Dip Test on liftable product.



8 Buyer pays for product by MT 103 to Seller's Bank in favour of Seller and title is

transferred to Buyer.