Dear Sir,

Payment: BG, SBLC (yes PB 2%) transferable,

PROCEDURES:

1) THE BUYER SENDS A LOI OR ICPO WITH TOGETHER THE PROOF OF FUNDS – POF-(BANK CONFIRMATION LETTER or RWA or BANK STATEMENT etc etc…) AND CIS (CLIENT INFORMATION SHEET) FILLED AND SIGNED.

2) THE SELLER, CHECKED THIS POF, ISSUES THE DRAFT CONTRACT ( CTR ) AND SENDS IT TO THE BUYER, OPEN FOR ANY SIMPLE CHANGES.

3) THE BUYER, CHECKED THIS CONTRACT, FILL ALL THE DETAILS OF HIS BANK ACCOUNT, WITHIN 5 WORKING DAYS, RETURNS IT TO THE SELLER SIGNED AND STAMPED.

4) THE SELLER’S BANK CHECKS ALL THE DOCUMENT AND ANSWERS BY MT799 WITH OFFICIAL ACCEPTANCE TO BUYER’S BANK

5) THE BUYER INSTRUCTS HIS BANK TO ISSUE, WITHIN 5 WORKING DAYS, THE FINANCIAL INSTRUMENT BY MT 760, TO SELLER’S BANK IN THE FOLLOWING FORMS:

-STANDBY LETTER OF CREDIT ( SBLC ) or BANK GUARANTEE (BG).

THIS INSTRUMENTS MUST HAVE THE VALUE OF ONE SHIPMENT ( ………. USD ) AND DURATION OF CONTRACT.

6) THE SELLER’S BANK AFTER CHECKED OF FINANCIAL INSTRUMENT, ISSUES THE PERFORMANCE BOND 2% FOR VALUE OF SBLC / BG AND SENDS IT TO THE BUYER’S BANK TOGETHER THE PROOF OF PRODUCT ( POP) AND REALIZES THE LOADING OF GOODS.

7) AFTER DELIVERING OF THE ORDER TO THE BUYER PORT OF UNLOADING, AFTER SGS TEST, THE SELLER’S BANK SEND TO BUYER’S BANK SHIPPING DOCUMENTS ( BILL OF LADING ), THE BUYER’S BANK CHECKED THIS DOCUMENTS AND PAY THE COMMERCIAL INVOICE WITH THE EXACT QUANTITY SUPPLIED AND CONFIRMED BY SGS, WITH SWIFT MT 103 WITH ACCORDANCE FROM BUYER’S BANK AND SELLER’S BANK. AFTER THIS PAYMENT THE SELLER RELEASE THE GOODS.

8 THE SELLER AFTER AND WITHIN 48 HOURS PAYS ALL INTERMEDIARIES.

THESE PROCEDURES SHOULD NOT BE CHANGED

THE RWA MUST BE ON LETTERHEAD OF BANK AND ADDRESSED TO BUYER THAT WILL SENDS THE COPY OF THIS TO SELLER.

NOTE: All procedure are non-negotiable.

Jamal Alam