D2 AGO

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					D2 Product & Procedure
COMMODITY: Low Sulfur Diesel, 200 PPM SPECIFICATIONS FOR DIESEL GAS OIL/D-W

DESCRIPTION DENSITY AT 20 DEG C KG/M2 COLOUR FLASH POINT PMCC DEG C KINEMATIC VISCOSITY AT 20 DEG C CST POUR POINT DEG C CLOUD POINT DEG C MERCAPTAN SULPHUR ACIDITY, MG/100G IODINE NUMBER G/100/G ASH % WT TOTAL SULPHUR % WT COPPER CORROSION (3 HRS 2 50 DEG C CCR ON 10% RESIDUES 5 WT CETANE INDEX DISTILLATION RANGE: 50% RECOVERED VOLUME DEG C 90% RECOVERED VOLUME DEG C BACTERIA MBC FIBRE/LT BACTERIA CFU FIBRE/LT

MIN 0.870 1.0 57 3.0 (*) (*) 2.0 2.0 6.0 10.0 5.0 0.01 5.0 6.0 0.01 0.02 1A 0.20

MAX

45

280 360 500 1,000

(*) SUMMER FROM MARCH TO OCTOBER :PP-5.0 DEG C CP-0 DEG C (*) WINTER FROM NOVEMBER TO FEBRUARY :PP -10 DEG C CP-5.0 C ORIGIN QUANTITY: PRICE: Brazil (Petrobras) or Venezuela (PDVSA) 1 Million Metric Tons Per Month (Test Spot can be arranged as well). -$30 United States Dollars (U.S.D.) below Platt’s EUROPEAN MARKET SCAN CIF NORTHWEST ~ D 50 PPM ~ PRODUCT CODE AAOQBOO Three Day Average centered on the day the risk of loss passes to Buyer. Upon Presentation of Documents (See #4 in Procedures) at Loading Port. Transaction will be run exclusively through Deutsche Bank Escrow Services (No Requirement or need for Letter of Credit).

PAYMENT:

PROCEDURES: A. SELLER (ON FILE) AND BUYER SIGN AND EXECUTE CONTRACT VIA EMAIL OR FAX. EACH PARTY WILL THEN EXECUTE 3 ORIGINAL COPIES AND SEND TO THE OTHER PARTY BY COURIER. BUYER REGISTERS WITH DEUTSCHE BANK ESCROW SERVICES AND PROVIDES RELEVANT DOCUMENTATION TO SATISFY COMPLIANCE AS A COUNTERPARTY. IN DOING SO, BUYER IS SET UP WITH AN ACCOUNT IN BUYER’S NAME. BUYER DEPOSITS ONE CARGO LOAD WORTH OF FUNDS IN BUYER’S ACCOUNT IN ESCROW AT DEUTSCHE BANK. BUYER EARNS INTEREST ACCORDING TO BUYER’S OWN INVESTMENT INSTRUCTIONS WHILE FUNDS RESIDING IN ESCROW. UPON PRESENTATION BY SELLER TO ESCROW AGENT AT DEUTSCHE BANK OF THE FOLLOWING DOCUMENTS, THE ESCROW AGENT WILL REMIT THE REQUESTED DISTRIBUTION TO SELLER IN TURN FOR TRANSFER OF TITLE OF PRODUCT:

B.

C.

D.

ESCOW DOCUMENTATION The following documents shall be provided by Seller to Escrow Agent for processing the distribution from the Escrow Account, with copies thereof to be provided to Buyer: 1. 2. Signed commercial invoice, original and three copies, covering the price of the actual shipment. 3/3 full set of three original copies of a clean on board Bill of Lading plus three nonnegotiable copies thereof, issued to, or endorsed to, or consigned to the order of Buyer, marked "Freight and cargo insurance paid FOB (at Seller’s Port of Loading) plus an additional fourteen days freight and cargo insurance while in transit toward the Physical Delivery Location. Original certificate of quality and quantity issued by SGS, Say bolt or other mutually agreed upon inspection agency. Certificate of Origin, one original and three copies. Proof of cargo insurance shall be provided pre-paid by Seller at Seller’s cost in the amount of one hundred per cent of the cargo value, to be effective from the time of the passage of risk of loss to Buyer through the length of time provided for fourteen days transit referred to above. (The scope of coverage to be provided by Seller shall be the minimum coverage under Clause A of the Institute Cargo clauses drafted by the Institute of London Underwriters.) Export certificate and/or license, copy of charter party agreement, name of vessel, call sign coordinates. If product is already in storage tanks, then the appropriate documents (SGS, Tank Storage Receipts will be provided)*** Buyer replenishes Escrow Account with funds for next cargo load and process repeats at next vessel loading.

3. 4. 5.

6.


				
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posted:3/3/2009
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