TRANSACTION PROCEDURES:

1. LOI must be not older than 3 work days, addressed to FSAP Hong Kong.

2. LOI must contain monthly & total quantity, specs, target price, payment terms, discharge rate, PWWD

3. LOI must contain destination port (non-embargo ports) Buyers Bankname,addresses, coordinates authorization

    granting soft probe taking by sellers bank.

4. BCL must indicate an available value at buyer's account as necessary to complete the required deal.

5. Inquiries without LOI & BCL annexed will not be responded.

6. Buyer's bank must be top 50 European or American, otherwise top 25 confirming bank shall be provided.

7. BG/SBLC by MT760 pricing stands for the entire contract value.

8. FFDLC pricing stands for the entire contract value.

9. DLC pricing stands for monthly shipments value.

10. DLC revolving transferable LC per each shipment depends on terms and conditions.

11. Non-transferable L/C are subject of surcharges and agreements.

12. PB 2% will turn the L/C operative -

13. Past SGS/BL and/or samples will be provided vs. valid LOI/ICPO

14. Visits at refineries/silos/producers will be approved on loading time.

15. We don't participate in tenders.

16. We don't compete non-performer's pricing - we compete only reliability, performance & fair pricing.

17. Unless otherwise published - products are available at any quantity.

18. Origin is on seller's choice only.

19. Shipments size providing: Handymax, Panamax, Capesize vessel

20. FSAP Group are Sellers - occasionally due to restrictions put by discount prices, insurers (such as paying bank

      or shipment terms as FOB.

21. FSAP company operating as legitimized Mandate to the Seller, and/or as end-Seller as well