Maximum Quantity: 2,000,000 Barrels per Month CIF Price: Gross USD $88.00BBL NET/ USD $86.00 NET on CIF FOB Price: Gross USD $ 86.00BBL NET / USD $84.00 NET on FOB TERMS OF NEGOTIATION ORIGIN: FEDERAL REPUBLIC OF NIGERIA INCOTERMS: CIF/FOB/TTO LOADING TERMINAL: GULF OF GUINEA / FORCADOS PAYMENT TERMS: SBLC-MT760, MT103 PERFORMANCE BOND: 2% PB CONTRACT TERM: 12 MONTHS MINIMUM (WITH ROLLS AND EXTENSIONS) INSPECTION: SGS, CIQ OR SIMILAR COMMISSION: STRUCTURED NCNDA/IMFPA FOB ROTTERDAM TANK TAKEOVER (SELLER TANK EXTENSION) 1. Buyer sends ICPO in line with seller working procedures 2. Seller issues Commercial Invoice (C.I.), Buyer Signs within 24 hours and returns to Seller Within its validity. 3. Upon receipt and review of the signed C.I., Seller sends to the buyer detailed information of Tank Storage facility where the product is stored for buyer to contact and extend the tank for at least a minimum of three (3) days. 4. Upon confirmation of Buyer's tank tension from seller's tank farm, Seller submits to by an Unconditional Dip Test Authorization (UDTA) along with the below full POP documents: - SGS report, Pre- Injection Report, Commitment Letter to Supply Authorization to sell & collect. 5. Buyer appoints their testing teams SGS or Equivalent to vessel. dip test in seller tank before injection to the buyer's vessel or conduct test upon injection completion into the buyer's vessel to ascertain the Quality and Quantity injected to the vessel. 6. Upon successful completion into buyers tanker, Seller issues payment invoice for Buyer to pay for the product value 7. Seller issues Tittle ownership documents to buyer upon confirmation of buyer payment. NCNDA/IMFPA sign and seal by all intermediaries connected in the transaction. 8. Seller within 24 hours upon receipt of the buyer's payment pays commission to all intermediaries involved in the transaction.