14.                Nominations, Shipment & Banking Procedures---CIF



14.1            Seller issues draft contract, signed and sealed to the
buyer and send together with his Company profile.



14.2            Buyer sign, seal and return to Seller including Buyer’s
Company Profile, with SPA lodged to Buyer's Bank. Seller lodges the same
with his Bank. The electronically signed and sealed contract is legally
binding and enforceable.



14.3            Within three banking days of receipt of the executed
contract, Seller shall send to the Buyer’s bank (in bank to bank system) a
non-operative Performance Bond covering 2% of the invoice value and the
Seller delivers the ICC recognized notary certified the Proof of Product
documents (as per clause 16.1) confirming availability of the product and
seller’s rights to sell the product (by courier service) to the Buyer’s
address for onward transmission to the Buyer’s bank. The copies of such set
Seller delivers by e-mail to the Buyer to speed up the verification
process.



14.4            Buyer's Bank within 3 (Three) banking days after positive
verification of POP,PB and the Seller’s company if not black listed within
the inter-banking system, issues operative Non-transferable Documentary
Letter of Credit (DLC) to Seller's Bank in favour of Seller which activates
Seller’s Performance Bond automatically.



14.5            The Seller within 5 (five) banking days confirms acceptance
of Buyer’s DLC nominates a vessel and notify the Buyer for acceptance.



14.6            Within 3 (three) banking days of the vessel’s acceptance by
the Buyer, the Seller provides the electronic copies of the ASPATANKVOY
Charter party agreement, available shipping documents (per clause 16.2) and
information on the loaded Cargo vessel for the buyer’s independent check as
to the form of issue.



14.7            Upon confirmation of shipping documents’ approval by the
Buyer as issued in correct way by the Seller, the loaded ship sets off
sailing to Buyer's Destination.

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Note: it is a Non negotiable procedure.
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mail details to tresholdpropertiesinfo@yahoo.com