PRODUCT: Household Kerosene ( HHK ) ORIGIN : RUSSIAN QUANTITY 50 Million Litres per month x 12 months CONTRACT TERM: 12 Months with Rolls & Extensions up to 60 months QUANTITY PER SHIPMENT : 15 Million Litres Minimum QUALITY: Complying to Russian Exports Standards (Copy of specifications attached herewith) PRICE: USD 0.47 / USD 0.45 per Litre CIF ASWP FO * ( * CIF FO applies to African Ports ) Intermediary USD 0.02 per Litre 50/50 buy sell side DELIVERY Loading for shipment shall commence within 30 days after acceptable payment instrument received from Buyer LOADING PORT: Russian ( Seller's Option ) PAYMENT TERMS: As Security, buyer to issue MT 700 , a irrevocable revolving DLC from a World Prime Bank for one month cargo value. This will not be monetized unless the buyer fails to make his payment Final payment via MT103/TT within 72 hours after cargo arrival at Discharge Port on completion of SGS inspection by Buyer for quality and quantity. PERFORMANCE BOND: 2% from Seller. VALIDITY : Two (2) days from the date of this offer. ANNEX A - STANDARD SPECIFICATION HOUSEHOLD KEROSENE (HHK) Quality - Specification of Kerosene (ASTM) PARAMETERS RESULTS .................... ................... Appearance: Clear & Bright Colour: +20 Specific Gravity at 15 Deg C: 0.775 to 0.825 Total Acidity Mg/Koh (max): 0.01 Distillation: Recovery at 200 C Vol: 20 min Final Boiling Point deg C: 300 Burning Quality - Clean Char Mg/Kg (On oil consumed): 15 Bloom on glass chimney: Not darker than grey Flash Point C min: 45 Copper Corrosion 2 Hours @ 100 Deg C (max): 1B Smoke point mm (min): 22 Total Sulphur % Wt (max): 0.14