Procedures as below:

STS ESCROW (TTO) PROCEDURE JURONG PORT.

1. The Buyer submits an official Irrevocable Corporate Purchase Order (ICPO), specifying the intended port of injection/transmission. The ICPO must include the Buyers Company CIS and incorporate the Seller’s terms and procedures.

2. The Seller provides a Memorandum of Understanding (MOU) for review, endorsement, and signature by all relevant parties.

3. Upon mutual execution of the MOU, the Seller forwards the signed document to the designated escrow law firm in Asia. The escrow firm will draft the Escrow Agreement to be signed by both parties. The Buyeris required to deposit (5%) of the total transaction value into the escrow account as a performance guarantee for Title Take Over and vessel re-routing.

4. Upon confirmation of the deposit, the Seller will provide the following Proof of Product (POP) documents issued in the Buyers company name:

(a) Authorization to Sell and Collect (ATSC).
(b) Product Passport (Quantity & Quality Dip Test Analysis Report).
(c) Certificate of Origin.
(d) Bill of Lading.
(e) Ullage Report.
(f) Vessel Q88.
(g) Cargo Manifest.
(h) Captain’s Notice of Readiness (NOR).
(i) Estimated Time of Arrival (ETA).
(j) Commitment Letter to Supply the Product

5. All parties shall execute the Non-Circumvention, Non-Disclosure Agreement / International Master Fee Protection Agreement (NCNDA/IMFPA).

6. Upon confirmation of the escrow deposit and receipt of the POP documents, the Seller initiates the re-routing of the vessel to the Buyer’s designated port. After full injection/transmission is completed, the Seller transfers the product title to the Buyer and reissues all relevant documentation in the Buyers company name.

7. Upon completion of the injection/transmission, the Seller issues the Unconditional Dip Test Authorization (UDTA) to the Buyer.

8. Following successful CIQ/SGS inspection at the destination port, the Buyer releases the full remaining payment (less the 5% escrow deposit) via MT103 TT wire transfer.

9. The Seller disburses commissions to all intermediaries within seventy-two (72) hours in accordance with the executed NCNDA/IMFPA.