COMPANY LETTERHEAD

(BUYERS NAME, ADDRESS, PHONE NUMBER, FAX NUMBER, WEBSITE, E-MAIL ADDRESS MUST BE
INCLUDED)

Date: 17/05/2021
Ref. № XXXXXXXX

To: INTERNATIONAL CAPRICORN PETROLEUM CO LLC,

Address: SULTANATE of OMAN, MUSCAT, WAY NO: 4331, building No: 2387 Flat No: 21
Att.: Mr. Bilal Fayyad, CEO
Mr. Valentin Glavan, General manager

IRREVOCABLE CONFIRMED PURCHASE ORDER (ICPO)

WE, THE UNDERSIGNED, COMPANY “XXXXXXXXXXXXX”, and HAVING OFFICIAL ADDRESS AT

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX represented by Mr. XXXXXXXXXX, CEO, WITH FULL
CORPORATE AND LEGAL RESPONSIBILITY AS THE BUYER, DECLARE OUR READINESS TO BUY AVIATION
KEROSENE ON THE CONDITIONS SPECIFIED IN THIS ICPO:

Name of the commodity Aviation kerosene Jet a1, GOST 32595-2013

Origin Russian
Delivery FOB (tank to vessel) Ust - Luga, Russian Federation
Contractual quantity: XX,000,000 barrels (xxxxxxx-xxxxxx million barrels)
Monthly deliveries (barrels) - first trial delivery 2,000,000 (two million barrels) – DIP & PAY
- following 12 months delivery against SBLC, - X,000,000 bbl (xxxxx
million barrels) per month
Contract period 13 months with Rolls & Extensions
The contractual price per barrel will be the arithmetic average for three (3)
Price per barrel (US$) consecutive days of the quotes for Jet under the Heading Platt’s Northwest
Europe Barges FOB* NWE for Jet Fuel (code: PJAAV00) as published in
Platt’s European Marketscan, hereinafter as “Applicable quotation” minus
discount of US $4,5 (Four point Five American Dollars) per barrel.
For first delivery – DIP&PAY (tank to vessel)
For 12-months delivery - Irrevocable Non-Transferable, Standby
Letter of Credit (SBLC) or Irrevocable Non-Transferable, Fully Funded
Documentary Letter of Credit (IRDLC) covering one-month quantity,
valid for one year and one-month period.
Payment for first delivery – 100% for shipping lot, to be made by
Payment method SWIFT transfer MT103 within maximum 3 (three) banking after
conducting DIP test in Seller’s shore tanks.
Payment for each following shipping lot, to be made by SWIFT transfer
MT103 within maximum 3 (three) banking from loading into Buyer’s
vessel.
Currency Payments can be done in USD

Commission for intermediaries from the Seller's side, the Seller pays
for intermediaries from the Buyer's side, the Buyer pays
Packing BULK
Inspection By a reputable independent surveyor, such as SGS

TERMS OF PAYMENT AND TRANSACTION PROCEDURE

1. The Buyer issues Letter of Intent (LOI), Buyer Company Profile and Buyer copy international passport
to the Seller.
2. Seller issues Soft Corporate Offer (SCO) and draft memorandum to the Buyer’s name.
3. The Buyer signs the memorandum and submits it to the Seller along with the Irrevocable Corporate
Purchase Order (ICPO).
4. The Seller returns the signed ICPO and memorandum to the Buyer. The Buyer issues Bank Comfort
Letter and Authorization to verify the submitted document (BCL text must be previously agreed by
the parties) or RWA (without blocking funds, through SWIFT MT199, according to the sample attached
below).
5. Upon successful completion of the Buyer's solvency check the Seller issues the draft SPA to the Buyer
for verify and sign, together with that issues a Commercial Invoice (CI) for the available quantity in
Seller’s storage tank the Buyer signs and returns this SPA +CI for notarization.
6. The Seller prepares partial POP documents as specified below and sends it to the Buyer:
A) Commitment and delivery guarantee;
B) Product availability statement;
C) Certificate of origin;
D) Authorization to verify (ATV);
E) Unconditional DTA;
F) SGS report Q&Q in shore storage tanks;
G) Tank Storage Receipt (TSR);
H) Authorization to Sell and Collect (ATSC);
I) Injection report;
J) Pre-Laycan (in writing form, signed by the stevedoring company or cargo operator of the port of loading);
7. The Buyer conduct DIP test in Seller's tank and after successful test submits SGS analysis results as consent
and acceptance of the product pays for the product using MT 103.
Buyer sends vessel’s detail – form of Q88 and ETR to the Seller. Seller issues a Laycan. Buyer sends NOR
ATA for loading.
8. After the payment is received by Sellers bank for the product, Seller starts product injection into the
Buyer’s system (tank or vessel).
9. The Seller transfers title and all export documents of the product to the Buyer’s name after each
payment.
10. The Seller pays the commission to the intermediaries on the side of the Seller, and the Buyer pays the
commission on the side of the Buyer.
11. Maximum seven (7) banking days after successful delivery of the first vessel, Buyer’s bank issue
Irrevocable Non-Transferable, Standby Letter of Credit (SBLC, SWIFT MT760) or Irrevocable Non-
Transferable, Fully Funded Documentary Letter of Credit (IRDLC, SWIFT MT700), covering value of one
month’s delivery of commodity to Seller’s bank. Payment for the delivered shipment lot of commodity will
be made by direct payment (SWIFT MT103) or by telegraphic transfer (T/T) on the terms established by
the contract. The form of financial instrument and it verbiage shall be discussed and mutually agreed
between Seller and Buyer and respective banks officers. The SBLC to be set for the entire duration of the
current agreement plus one month.

BUYER'S BANKING INFORMATION

BANK NAME: XXXXXXXXXXXXXXXXXXXXXX

BANK ADDRESS: XXXXXXXXXXXXXXXXXXXXXX
ACCOUNT NAME: XXXXXXXXXXXXXXXXXXXXXX
ACCOUNT IBAN: XXXXXXXXXXXXXXXXXXXXXX
SWIFT CODE: XXXXXXXXXXXXXXXXXXXXXX
BANK OFFICER: MR. XXXXXXXXXXXXXXXXXXX
BANK TEL: +XX XXX XX XX XX
BANK FAX: + XX XXX XX XX XX
E-MAIL: xxxxxxxxx.@xxxxxx.xxx

STANDARD SPECIFICATION OF RUSSIAN GAS OIL EN 590 (10 PPM)

PRODUCT GAS OIL EN 590 (10 PPM) GOST R 32511-2013
PROPERTY UNIT VALUE

Cetane index, 46
 Cetane number 51

Densityat 15 degr kg/m3, 820 - 845

Polycyclic aromatic hydrocarbons % (m/m) 11

Sulphur content mg/kg 10

Flash point determined in a closed cup Co 55

Carbon residue ( on 10 % distillation residue ) % (m/m) 0.30

Ash content % (m/m) 0.01

Water content mg/kg 200

Total contamination mg/kg 24

Copper strip corrosion ( 3 hours at 50 C o ) rating Class 1

Stability g/m3 25

Lubricity, corrected wear sear diameter (wsd 1.4 at 60 C o ) um 460

Viscosity at 40 Co mm2/s 2.00 – 4.50

Distillation recovered at 250 Co, 350 Co % V/V 65, 85

95 % ( V/V ) recovered at Co 360

Fatty acid methyl ester content % V/V 5

Note: *Using RON Enhanced Metal Based additive which contain Mn & Fe is prohibited.

For and on behalf of XXXXXXXXXXXXX.

Signature
Mr. XXXXXXXXXXXXXXX, CEO CORPORATE STAMP/SEAL

The Buyer sends the LOI to the Seller's corporate email address. A copy of the LOI is sent to
intermediaries to secure the right to receive the commission.
The Seller sends the draft memorandum and SCO to the Buyer's corporate email address
specified in the LOI.

APPROX. VERBIAGE OF READY, WILLING AND ABLE (RWA)

SWIFT MT799/MT199 FUNDS CONFIRMATION (CAN BE CHANGED
BY MUTUALLY AGREED BETWEEN TWO BANKERS)

DATE: XX/05/2021
BANK ADDRESS:
TEL:
SWIFT COD:
TELEX:
BANK REFERENCE:
TRANSACTION ID:
ISIN CONFIRMATION:
TO:
BENEFICIARY NAME:

WE, (NAME & LOCATION OF SENDING BANK) ON BEHALF OF OUR CLIENT (NAME AND ADDRESS) HEREBY
PRESENT OUR CONFIRMATION OF FUNDS IN THE AMOUNT OF (AMOUNT) USD (UNITED STATES DOLLAR) IN
ACCOUNT NUMBER (XXXXXXXX) AS OF THE DATE OF THIS TRANSMISSION.

WE HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY THAT WE ARE READY TO ACT ON THE INSTRUCTIONS
OF COMPANY XXXXXXX, AS THE ACCOUNT OWNERSHIP WITHIN OF THE CLIENT'S OBLIGATIONS TO PURCHASE
JET A1 JET FUEL IN ACCORDANCE WITH IRREVOCABLE CORPORATE PURCHASE ORDER № XXXX FROM
XX.05.2021.

WE DECLARE THE FUNDS ARE GOOD, CLEAN AND CLEAR FUNDS OF TRUSTWORTHY (NON-CRIMINAL) ORIGIN
AND ARE CURRENTLY FREE AND CLEAR OF ANY TAXES, LEVIES OR DUTIES OF ANY NATURE.

THE ACCOUNT IS IN GOOD STANDING WITH FUNDS ARE ON ACCOUNT AS LEGALLY VALID, AND FREE AND
CLEAR OF ANY LIENS AND ENCUMBRANCES.

THIS FUNDS CONFIRMATION MESSAGE IS A FULLY OPERATIVE BANK INSTRUMENT, ISSUED IN COMPLIANCE
WITH OUR PROPER BANKING PROCEDURES AND IN ACCORDANCE WITH OUR BANKING LAWS AND REGULATIONS.

THIS CONFIRMATION OF FUNDS MESSAGE BEING A FINANCIAL VERIFICATION, DOES NOT BLOCK FUNDS,
SHALL BE REGULATED AND CONSTRUED IN ACCORDANCE WITH THE BRITISH COMMON LAWS AND
INTERNATIONAL BANKING PROTOCOLS AND LEGISLATION OF THE INTERNATIONAL CHAMBER OF COMMERCE.

THE RWA IS VALID (10) TEN BANKING DAYS ONLY AS AN OPERATIVE INSTRUMENT.

____________________ ____________________
Authorized Officer Authorized Officer
(Name and Title) (Name and Title)
ID Code and Signature ID Code and Signature

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