Crude Oil

Full Corporate Offer
(FCO)

We are Consultant and (http://maplered.com) Authorized Mand (http://maplered.com) ate of the Seller and (http://maplered.com) forward to you this offer to confirm that Seller is willing and (http://maplered.com) ready to offer the Russian Export Blended Crude Oil (REBCO) based on the following Specification and (http://maplered.com) Price Terms and (http://maplered.com) Conditions.


1. Commodity: Russian Export Blended Crude Oil (REBCO)
2. Specification: attached
3. Origin: Russia
4. Quantity: 500,000 MT (3.6 Million Barrels +/- %5) per Month for a period of 12 Months with possible rolls and (http://maplered.com) extension up to Five Years negotiated yearly.
5. Price:The average of three consecutive days around the Bill of Lading (B/L), Platt European Marketscan, under the Heading Cargoes REBCO under CIF. NWE/Basis

6. Discount: Gross Tow Dollars US $2.0/ Barrel, Net One Dollar and (http://maplered.com) Seventy Cents
US $1.70/ Barrel.
7. Commission: Thirty Cents US$0.30/Barrel based on 50/50 shared between the
Buyer Side /Seller Side (Closed) paid by the buyer as Irrevocable FPA.
8. Payment: Irrevocable, Confirmed, Transferable, and (http://maplered.com) Revolving Documentary Letters of Credit (DLC).
9- Performance Bond: %2 Performance Bond is issued by Seller's Bank based on the first month shipment value.
10- Delivery: CIF Any Safe World Port (ASWP)

Procedures:
1- Seller or its representative issues this FCO for the Buyer.
2- Buyer issues the ICPO with full Bank Information.
3- Seller issues the draft contract for the Buyer to review.
4- Buyer amends or accepts the draft contract terms by entering full banking information, Sign and (http://maplered.com) Seal and (http://maplered.com) returning the draft contract back to the Seller.
5- Buyer's bank issues a pre-advised letter to the Seller's bank that within 48 hours of receiving the %2 Performance Bond(PB) and (http://maplered.com) Proof of Product (POP) by the Seller, an Irrevocable, Confirmed, Transferable, and (http://maplered.com) Auto revolving Documentary Letter of Credit will be issued by the Buyer's bank to the Seller's bank.
6- Seller issues a 2% Performance Bond with Proof of Product.
7- Seller issues the Hard Copy of the Contract for the Buyer and (http://maplered.com) Buyer Sign/Seal
and (http://maplered.com) Returns the Hard Copy of the Contract back to the Seller.
8- Buyer issues an Irrevocable, Confirmed, Transferable, and (http://maplered.com) automatically Revolving DLC within 48 hours of receiving the %2 PB and (http://maplered.com) POP.
9- Shipment commences according to the contract schedule