SUGAR ICUMSA45

10.Within 21-days of Buyer and Seller signing the Agreement, the Buyer will advise the Seller in writing the particulars of the discharge ports relevant to this Agreement.

9.Payment will be released to the Seller upon negotiation of shipping documents at the Sellers bank. Partial shipments are allowed.

8.The initial shipment of 12,500/mt or 25,000/mt product loads within 30-45 days from the date of receipt, verification and authentication of Buyers required financial instrument for total funds of the value of United States Dollars as per Article 13 of the Sales and Purchase Agreement at Sellers bank, and continues until the Agreement quantity is shipped and delivered.

7.Within 10-international banking days of the receipt, verification and authentication of Buyers required financial instrument at Sellers bank, the Seller will issue a 2% Performance Bond for the value of the required financial instrument.

6.Within 7-international banking days of signing and exchanging this Agreement and from receipt of the required financial instrument in accordance with Article 13 of this Agreement, Sellers Bank will issue to Buyers Bank the Proof of Product by SWIFT MT 799.

The required financial instrument is issued, confirmed and guaranteed by a top world prime bank acceptable to Seller, in accordance with Article 13 of the Sales and Purchase Agreement.

5.Within 3-international banking days of signing and exchanging this Agreement and from receipt of the AFFIDAVIT from Seller to Buyer, the Buyers Bank will issue in favour of the Seller the required financial instrument and to the value of United States Dollars as per Article 13 of the Sales and Purchase Agreement.

4.Within 3-international banking days from receipt of the Agreement from Buyer, duly signed, sealed and stamped by the Buyer, the Seller will sign, seal and stamp the Agreement and issue to the Buyer the AFFIDAVIT as per Article 13A of the Sales and Purchase Agreement.

3.Within 3-international banking days from receipt of this Agreement by the Buyer, the Buyer signs, seals and stamps the Agreement, and return it to Seller for his signature, sealing and stamping.

2.Seller issues Contract to Buyer.

1.Buyer issues ICPO with full banking and BCL and LOA.

General Procedures and Terms

SELL SUGAR ICUMSA 45