PETROLEUM

COMPANY

TO : HSM DREDGES RESOURCES

No.20, jl. Setia wawasan U13/35C, setia alam 40170, alam selangor
Tel/fax : 603-3359-3370
UP : R. Akbar siregar
CC : Suprianto
Chaiyasen sunpanich
 PETROLEUM COMPANY

Seller/SeIIefs mandate forward Full Corporate Offer (F.C.O) along with formats of hank
capability and fcwmat of payment Guarantee for the payment for both sellers and buyers
intermediaries.

Buyer accepts seller's procedures and issues ICPO with the following information:
Banking I_ktails (Bank Clouhrance Letter). Company Profile. Buyer's Passport Copy and
acceptance letter stating to adhere to seller's procedure.
Seller accepts the Buyer's ICPO and issues contract to buyer jar Oik•n an•.endments,
buyer signs and returns the contract to the seller in word format within four (4) international
working days.

Seller signs the Sales and Purchase Agreement and convert to PDF Format and send to
hack 10 as final approved Contract With Soft performance partial proof of
- Commitment Letter to supply
- Product allocation certificate issued hy ministry of energy
- Export license issued by russian ministry of energy
- Seller certificate of incorporation/registration

5). Buyer's bank, according to seller's verbiage issues SBLC/MT760 within working days
for the first shipment value to refinery's nominated fiduciary financial bank to enable seller
to eotnmenee loading of product with the shipping and release full set of Proof of Product
Documents after loading via bank to bank swift within working days. If buyer fails to issue
within the duration of 7-10 working days. in alternative buyer pay'S Via
Telegraphic Transfer USD 250,000.00 security guarantee performance within 48 hours
Which will be deducted from the product [acc value when final payment is made.
Seller will endorse the Sales and Purchase Agreement to the Oil and Gas Department at the
Russian Ministry of Energy for approval. Generally. will take up to 3 working days,

7). Seller's bank will issue operative 2% Performance Bond in favor of buyer's bank account
within 2 working days. which is submilled and detailed in the mutually agreed signed
contract and seller issues below POP Documents:
Certificate of Origin

Commercial Invoicc
Company Tax Payer Certificate E, and Fresh SCLS Report
Tank Recei t
Vessel's QIS and Quality Specification H Bill of Lading
 PETROLEUM COMPANY

Buyer will notify seller via official written notice Of it's hank receiving Proof of Product
Documents whilst seller sends to the buyer the registered hard copy of the contract through
courier service within 3 to -S working days.
PETROLEUM
COMPANY
LIMITED
 Proposed Sbipping Lifting SebedwIe