*2M-10MBBLS OF BLCO IN NNPC CHINA TANKFARM@$9/5NET *TRANSACTION PROCEDURE:* 1)Buyer and Seller sign and seal the Sales and Purchase Agreement including full Banking coordinates of Seller and Buyer. Buyer returns signed SPA with complete ATB,CIS format. (Names of persons and inspectors authorized to board the the storage for Q & Q inspection) 2. Seller sends to the buyer an endorsed letter of acknowledgment of receipt of signed SPA and release OFFSHORE CHINA TANKFARM CARGO POP TO END BUYER for buyer's confirmation. The documents are; a) Discharge Certificate b) Storage Information c) Offshore Storage certificate. d) Tankfarm Storage Receipt (TSR). 3. Buyer confirm NNPC OFFSHORE CHINA TANK FARM CARGO and issues PREADVICE VIA MT799 to seller's bank on readiness to issue SBLC/BG/MT700DLC/MT799BLOCKED FUNDS. 4) Seller responds with Preadvice via mt799 on readiness to receive instrument 5) Buyer issues SBLC/BG/MT700DLC/MT799BLOCKED FUNDS for total cargo from Top 50 global Banks according to Seller's Approved Verbiage within 3(three) banking days. Buyer sends telex charge copies and copies of SWIFT to Seller for confirmation with Fiduciary Bank. 6. SELLER shall SWIFT Payments with NNPC's Official invoice for the following fees to the NNPC designated account: (A) FULL CARGO DOCUMENTS TO BE ASSIGNED TO THE BUYERS COMPANY'S NAME. (B) WARRANTY OF TITLE(WOT). (C) DIP TEST AUTHORIZATION (DTA). Reassignment of the following documents will be made to buyer with the WOT. (1) CLEAN OCEAN BILL OF LADING, ONE (1) ORIGINAL AND THREE (3) COPIES (2) SELLERS COMMERCIAL INVOICE, ONE (1) ORIGINAL AND THREE (3) COPIES (3) SGS/SAYBOLT CERTIFICATE OF QUALITY AND QUANTITY, ONE (1) ORIGINAL AND THREE (3) COPIES (4) CERTIFICATE OF ORIGIN ISSUED BY NNPC, ONE (1) ORIGINAL AND THREE (3) COPIES (5) CERTIFICATE OF AUTHENTICITY ISSUED BY NNPC, ONE (1) ORIGINAL AND THREE (3) COPIES (6)/CERTIFICATE OF OWNERSHIP (7) MASTERï¼? RECEIPT FOR SAMPLES (8) MASTERS RECEIPT FOR DOCUMENTS (9) CARGO MANIFEST 7) Upon payment of fees by Seller for Cargo Re-Assignment and Warranty of Title for the cargo, all cargo Documents as well as all rights to the cargo is re-assigned and issued to Buyer and in their favour by NNPC. (8) Warranty of Title and Re-assigned documents are sent to the Tank Farm Manager, upon verification of the documents and Warranty of Title by Tank Farm Manager, Dip Test Authorization is issued to Buyer. (9) Dip Test (DTA) is carried out in an NNPC ONSHORE China Tank Farm/Storage nearest to buyer's POD by Buyer's nominated inspection team