Philippine thermal coal LOI

Release Date: April 8, 2022

Expiration date: April 8,, 2023
LOI No. :/ Power coal/LOI /02204001

Irrevocable enterprise purchase order

(Standard Corporate Purchase Order)
To: XXX Company, Philippines
Liaoning Province mine yi Import and Export Trading Co., LTD., on behalf of the
company solemnly promise that our purchase of thermal coal is true. We are ready,
willing and able to purchase your thermal coal products. We agree to import
according to your specifications, quantity, price and terms.

一； Products:
5600 kcal of thermal coal

二； Quality/Specification:
Standard, (see Appendix 1)

三； Quantity:
200,000 mt/month X12 months, 1.2 million mt/year (±5%), in bulk (to be determined
by seller)

四；Port of shipment:
selected by the seller and specified in the contract.

五 Port of destination:
the port of destination designated by the buyer and specified in the contract.

六. Shipment Date:
Shipment shall commence within 5 days after the seller receives the documentary
letter of credit. And inform the buyer of the port of shipment, the name of the
vessel, the exact date of shipment, the actual shipment quantity, the name of the
shipping agent or forwarder, the name and contact information of the person in
charge, etc.

七； Price:
According to the quality standard stipulated in Attachment 1, the CIF price of 5500
kcal thermal coal is $125usd/ton CIF-US. According to the seller's current situation,
both parties can negotiate to settle the price in RMB.
八； Settlement:
After passing the CIQ legal inspection at the port of destination, the payment shall be
settled in a lump sum within 7 banking days.

九； Inspection:
After passing SGS inspection at loading port, the goods will be inspected by CIQ
inspection agency at destination port. This is the final test and the main basis for
legitimate payment.

十；. Negotiation documents:

Bill of lading, Shipping order, invoice, declaration form at loading port, Certificate of
origin, legal inspection certificate at loading port, CIQ legal inspection certificate at
destination port.

十一；Procedures;
1. The Buyer and the seller provide LOI,
2. The buyer and the seller sign a contract.
3. The buyer opens the documentary letter of credit which is not effective
temporarily.
4. The seller will open 2%PB and activate the documentary letter of credit which is
not effective for the time being.
5, Shipment
6,The goods are unloaded at the destination port
7, Statutory CIQ inspection at destination port
8,After the COMPLETION of CIQ inspection, the payment shall be settled within 7
working days of the bank.

十二； Liability for breach of contract;

1. The seller must keep good quality control, especially the heat, sulfur, moisture,
volatile matter and impurities (coal gangue) of thermal coal, hoping to strictly control
them. If there is any quality problem, the seller should bear all the responsibility.
2. The seller must guarantee quantity per vessel and delivery time.
3. The buyer guarantees that it will inspect and settle the payment on time according
to the CIQ inspection certificate.

十三； Annex 1
Product quality details guaranteed by the seller:
To be filled out by the seller

十四；Eleven, bank information

Seller: Bank name, account number, SWIFT

Buyer: Bank name, account number, SWIFT

Liaoning Kuang yi Import and export Trade Co. LTD
Legal representative: Pei Yunfeng

Date: April 8, 2022