For serious buyer only

D2 Russian origin CIF Houston TX

Amount approximately 200,000 MT/mo for 12 months with rollover and extension by agreement between Seller and Buyer.

Price US$ Platt's US Gulf (can be fixed for 1 year contract) minus $41/MT, net to Buyer $32/MT.

Payment irrevocable, transferable, divisible, revolving documentary letter of credit, sent and confirmed by the bank of Buyer (Prime Bank) payable 100% not later than 3 days from receipt of the following by the Buyer:

a.  Seller's commercial invoice.

b.  Copy of independent inspector's report of quality/quantity.

c.  Bill of lading.

d.  Origin certificate (delivery from Houston TX).

Performance Bond 2%.

Inspection SGS.

General Procedure:

1.  Seller issues FCO or draft contract upon receipt of ICPO and BCL from Buyer.

2.  Buyer accepts FCO by printing 2 hard copies and returning one signed copy to Seller along with signed copy of MFPA.

3.  Seller provides draft contract to Buyer.

4.  Seller and Buyer exchange the signed and notarized contract via eletronic mail, which shall be deemed legally binding and enforceable.  The contracts are registered in Seller's and Buyer's bank within 2 (two) banking days after the signing.

5.  The Buyer's bank issues the Non Operative Documentary Letter Of Credit via Ledger Transfer or SWIFT to Seller's bank within 3 (three) international banking days exchanging the signed contract.

6.  Within 5 (five) banking days, Seller's bank sends SWIFT message (MT 799) to Buyer's bank of RWA availability letter of Seller being Ready, Willing, and Able to issue Performance Bond and provide Proof Of Product.

7.  Within 5 (five) banking days, Seller *Post Performance Bond equal to 2% (two percent) of the value of one month totalling minimum 200,000 MT of product at at the contract price.

*Provides the Official Proof Of Product bank to bank to the Buyer (including readiness of the goods, scheduling, letter of authorization from the relevant authorities, refinery commitment, company charter agreement, and other supporting documents), thus activating the Documentary Letter of Credit and making it operative.