D2 Diesel: 200, 000 Metric Tons to 500, 000 Metric Tons SPOT FOB
Rotterdam READY FOR IMMEDIATE LIFT Price: 15% below Platts
Extensions and Rollovers: Up to 2 million Metric Tons TOTAL JP54:
500, 000 Barrels to 2, 000, 000 Barrels SPOT FOB Rotterdam READY
FOR IMMEDIATE LIFT Price: 15% below Platts Extensions and
Rollovers: Up to 5 million Barrels TOTAL 1. Buyer accepts
procedures without change. 2. The Buyer receives a Purchase Order
template for Buyer to sign and seal. 3. Seller’s representative to
call and review purchase order with buyer. 4. Contracts are issued
within 24-72 hours. Contracts are to be returned within 24 hours,
signed. If there are proposed changes to the contract they are to
be highlighted for easy review. When acceptable: 5. Seller returns
fully executed contracts. 6. Buyer and Insurance Company engage in
a conference call to discuss the terms of the Performance Bond.
Bond company will issue to Buyer a draft copy of the bond. Buyer
has 48 hours to verify and accept the bond. If they do not want the
bond, Seller and Buyer null and void signed contract. 7. If Buyer
accepts the bond, Seller shall provide Buyer with FULLY ACTIVATED
Performance bond for 110% value of the Cash Equivalent Instrument
for each month’s lift. This is the final copy of the bond. 8.
Seller will initiate Fee Protection Agreement for all
intermediaries and send to Buyer for approval and signatures. 9. By
the next business day the Buyer shall issue a Cash Equivalent
Instrument from any World Bank for the value covering the FIRST
MONTH SHIPMENT OF PRODUCT 10. Upon receipt by Seller’s bank of
Buyer’s Cash Equivalent Instrument, Seller swifts FULL MT760 POP
(***** tank receipts, SGS reports, allocation numbers, bill of
lading, charter party agreements, Q88’s etc.) to Buyer’s bank 11.
Delivery commences as per Contract. All shipments will be paid via
Cash Equivalent Instrument.