SOFT CORPORATE OFFER Valid from 26th of November, 2008 Attn: Buyer / buyer’s mandate We, hereby issue our Soft Corporate Offer (this document) and furthermore reconfirm our readiness to deliver and enter in to a sale & purchase contract for the underlined Gas Oil L-0.2/62 Diesel 0.02% product. PRODUCT: Gas Oiill L-0..2/62 Diiesell 0..02% ORIGIN: Russian Federation QUALITY AS PER SPECIFICATION: GOST 305-82 Based on Standard Specification. Low Sulphur content: 0.02% as per ANNEX QUANTITY: 10.000.000 MT CONTRACT LENGTH: SPOT PRICE SPOT FIXED: US$ 560 gross / US$ 540 net to the buyer DELIVERY: CIF Rotterdam COMMISSION: 50/50 Seller's and Buyer's side, payable by the Seller PAYMENT: MT 103 INSPECTION: By SGS or equivalent survey company (charges paid by Seller) CONFIRMATION: The offer is confirmed after Buyer receives and accepts / signs the Soft Corporate Offer (SCO) SELLER’S BANKING PROCEDURES: 1. Buyer issues IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO) with below mentioned procedure and soft probe permission. Color passport copy of signatory of a contract required. ICPO should be issued to:XXXX XXXXX 2. Seller sends FCO/ Copy of draft contract to be extended to Buyer for his review, Buyer and Seller signs the FCO/Contract. 3. Seller Bank provides Soft POP to the Buyer’s Bank with Tank Receipts and Allocation number, of Soft Bank of the Buyer of Research. 4. After acceptance of Soft POP the Buyer Bank issues Pre Advise MT103/23 to the Seller’s Bank. 5. Seller's bank issues full proof of product (POP) to Buyer's bank. POP will be confirmed by TOP25 world prime bank. 6. Upon successful verification of Full POP and acceptance of the original Contract, Buyer’s bank issues will swift MT 103 to Seller’s bank payable against Title and shipping documents as per LIFT. 7. The SGS inspection charges will be borne by the seller. 8. Delivery / Lift commences as per schedule given in the contract. |