This document outlines 12 steps for establishing a contract for a refinery transaction: 1) The buyer issues an initial document; 2) The seller responds with a confirmation of order; 3) The buyer signs and returns the confirmation; 4) Both parties sign non-disclosure and framework agreements; 5) The seller issues a draft contract for amendments; 6) The buyer returns the signed contract; 7) The seller registers the consignment; 8) The original contract is signed and exchanged; 9) The seller issues proof of product documents; 10) The buyer confirms and pays via letter of credit; 11) The seller issues payment to activate the letter of credit; 12) Upon verification, shipment commences. Registration and legal

1. Procedures for Contract ONLY
Refinery code: Baltic
Dated: 7/2/09
1) Buyer issues an ICPO, BCL with right to soft probe and buyer’s
credential and company profile.
2) Seller issues FCO to be confirmed and signed by the Buyer.
3) Buyer signs FCO and return to Seller.
4) Buyer and Seller sign NCND and MFPA
5) Seller issues Draft Contract open for amendments.
6) Buyer returns signed Draft Contract.
7) Seller issues a notice of registration to buyer for its
consignment with Seller refinery
8) Seller issues original contract for final signatory, both party
exchange hard copies of contract via Courier Service.
9) Seller issue to Buyer the Full POP.
10) Upon Buyer’s confirmation of Seller’s POP, Buyer's bank shall
issue by MT103/23 to Seller's bank in favor of Seller or other
acceptable means of payment to Seller
11) Seller issues 2% PB to activate buyer’s letter of credit or other
acceptable means of payment as Agreed on contract.
12) Upon Completion and verifications of all documents shipment
commence
IMPORTANT NOTES:
 Buyer shall be reimbursed 100% the Registration and Legalization fees
after first successful shipment.
CONFIDENTIAL