STS (Vessel to vessel) PROCEDURES

STS (Vessel to vessel) PROCEDURES

1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) and their ship details /

coordinates.

2. The seller issues a draft agreement (SPA or MOU) to the buyer to sign and returns to

the seller.

3. Seller reviews signed contract and send a copy of the signed and sealed contract in

PDF to the buyer.

4. Seller sends to Buyer the following documents for Buyer's confirmation.

a) Refinery Commitment to supply

b) Certificate of Origin

c) Statement of Availability of product

d) Product quantity passport (analysis test Report)

e) Cargo Manifest

f) Bill of Lading

g) Vessel Tanker QQ

5. After receiving confirmation of the above documents by the Buyer, buyer makes 3%

deposit by TT Wire/MT103 as guarantee to Seller’s nominated fiduciary bank account

within (3) banking days. If the buyer fails to make the 3% payment within 24hrs banking

days, contract will be terminated.

6. Upon confirmation of the 3% TT Wire/MT103 deposit, Seller authorized their freight

forwarder to provide translating coordinates to buyer and release all shipping

document to buyers’ inspection company for preparation of their ship for arrival.Red Oil and Gas co.

7. Buyer's inspection company conducts inspection and after successful injections and

inspection, Buyer will submit a Transfer Schedule for the operation of the STS to Seller

if Buyer uses multiple vessels to collect and trainload.

8. After the long side of the vessel and the hose are connected, after a successful

inspection, the Buyer makes the 97% payment of the total product value within 24-36

hours via T/T or MT103 to the seller's appointed bank.

9. The seller transfers the Certificate of Ownership on behalf of the buyer as the legal

owner of the goods.

10. The Seller will release payment to the intermediary involved within 48 hours of

receiving Payment for the product from the buyer.

Red Oil and Gas Co. hereby confirms that we work with Enerplus Refinery under

the terms of CIF (Cost, Insurance, and Freight), TTO (Tank Take Over), STS (Ship to Ship),

and VTT (Vessel to Tank).

This reflects our active involvement in standard industry procedures for the supply and transportation of petroleum products.

global

Sincerely,

Afghanzai

CEO of Red Oil and Gas Co