A.G.O. softsale

SOFT SALE OFFER: GASOIL (AGO) ON 12 MONTHS CONTRACT:
PRODUCT: GASOIL D2 (AGO)

SPECS. : INTERNATIONAL STANDARD / NNPC-
DPR SPECS.

ORIGIN: RUSSIA, ROTTERDAM,

REFINERY LOAD PORT: PDSVA REFINERY, VENEZUELA

CONTRACT QUANTITY: 50,000MT-250,000MERIC TONNES MONTHLY DELIVERY,

CONTRACT QTY; 50,000MT MINIMUM MONTHLY

CONTRACT TENURE: 12 MONTHS,

CONTRACT TENURE: 3 MONTHS MINIMUM TENURE

DELIVERY: ANYWHERE IN NIGERIA

FIXED CONTRACT PRICE: N90.00 PER LITRE



PAYMENT: AFTER DISCHARGE INTO BUYERS VESSEL OUTSIDE BAR LAGOS AGAINST SGS DOCS TO BUYERS BANK.

TRANSACTION PROCEDURES:

A.Seller/Agent issues this SOFT SALE OFFER/DRAFT SPA.
B.Buyer accepts SOFT OFFER and issues an ACCEPTANCE
LETTER to execute SPA.

C. Buyer executes NCND/IMFPPA, confirming payment of due
Agent’s commissions.
D. Seller & Buyer executes Full SPA Contract Document.
E. Seller provides PART PROOF OF PRODUCT (POP) for buyers Confirmation.
F. Buyer provides PROOF OF FUND (POF) to seller
G. Seller & Buyer’s banks agree on text of suitable Bank
Instrument format.
H. Buyer issues CONFIRMABLE BANK GUARANTY ( BG ) to seller.
I. Seller issues PERFORMANCE BOND to secure Buyer’s BANK GUARANTY (BG)
J. Buyer issues OPERATIVE BANK GUARANTY (OBG ) to seller.
K. Seller issues FULL PROOF OF PRODUCT-BILL OF LADING/ CARGO MANIFEST
L. And (POP), NOTICE OF READINESS (NOR), EXACT TIME OF
ARRIVAL (ETA) at buyer’s Port.
M. Seller charters, loads vessel and sail to buyer’s discharge port
as per SPA.
N. Buyer’s inspectors confirm Q & Q, and full payment is made
to all nominated beneficiary accounts.
O.As provided in the executed contract SPA.

08039415859