1. Buyer and Seller sign and seal this Contract including banking coordinates. The electronic signed copy by both Parties is considered legally binding and enforceable and must not be changed. The executed SPA and is lodged in their respective banks.

2. Buyer’s bank shall issue by swift wire transfer to Seller’s/Fiduciary Bank, a non-operative, confirmed and irrevocable instrument (DLC/ SBLC/ BG) for the total cost of Cargo.

3. Seller loads vessel and gives to the Buyer all Loading Documents, Q88 and Captain’s name. Vessel’s captain will provide NOR (Notice of Readiness) to the Buyer to confirm the product.

4. Within three (3) business days of Two (2) & Three (3) above, The NNPC Bonny Terminal Administrator authorizes Master of its loaded vessel to issue a full confirmed POP / NOR to Refinery discharge port facility.

5. The Harbour Master shall acknowledge the receipt of the NOR confirm from Captain of the vessel the issued NOR. The harbor Master shall send a confirmed POD to the vessel Captain for issuance of ETA after Q and Q Inspection report. ( he shall do so in writing to the Seller by email).

6. The Seller shall establish full communication and control between the Buyer and the Captain of the vessel

7. The Seller shall prepare the Logistics, obtain security clearance and cause Vessel Master to proceed for Q and Q Inspection by a nominated Agency of the Buyer at a preferred location.

8. The Captain of the vessel shall issue a confirmed ETA after a successful Q and Q report.

9. The terminal shall then; a. Fully Re-register a confirmable allocation in Buyer’s name on Shell Screen and NNPC London. b. Register all documentation in Buyers name. Such documentation shall be confirmable at NNPC Abuja, London, Shell Screen. (The documentation shall include valid BOL, Warrant of Title, CPA, Insurance and SGS report. c. Clear the vessel out of Nigeria waters and sail to Buyers disport with required documentation within Seven (9) To Ten (10) days from the receipt of Buyers Instrument.

10. Within 24hrs after berthing at POD, Buyers Inspectors shall carry out Q and Q Inspection inside the vessel before Discharge and issue a report to the Captain, Seller’s Bank and Buyer’s Bank.

11. The Seller Shall collate all stipulated cargo / marine documents, Invoice and swift same to Buyer /Buyer’s Bank for Payment. Buyer’s Bank shall within Five (5) days receipt of all the transaction documents as enumerated in the SPA SWIFT ALL.