(ON BUYER’S OFFICIAL LETTERHEAD)
Buyer’s Ref: xxxxxxxxxx
Date: xxxxxxxxx
To: OIL SEA SDN BHD
Attn: xxxxxxx – TBA
Managing Director
IRREVOCABLE CORPORATE ORDER (ICPO)
We, ………………………. (Buyer’s company name), with Company Registration No. ………….
and having address at: …………………………. with full Legal and Corporate responsibility,
hereby confirm that we are ready, willing, and able to purchase the following Product in
accordance with the terms and conditions as stated herein below and mutually agreed
commercial covenants and acceptance of the Contract.
AA) PRODUCT: EN590 DIESEL OIL, 10PPM
BB) PRODUCT ORIGIN: Republic Of Kazakhstan
CC) LOADING PORT: Jurong Port, Singapore.
DD) TRIAL SHIPMENT: i) 300,000 Metric Tons.
ii) Shipment shall be executed in Lots of 100,000 Metric
Tons per Shipment.
iii) Shipments of 100,000 Metric Tons shall be executed
every Ten (10) Days.
EE) CONTRACT i) 300,000 Metric Tons per month X 12 months
QUANTITY ii) Shipment shall be executed in Lots of 100,000 Metric
SHIPMENTS: Tons per Shipment.
iii) Shipments of 100,000 Metric Tons shall be executed
every Ten (10) Days.
FF) DURATION OF i) Twelve (12) months
CONTRACT & TOTAL ii)300,000 Metric Tons shall be shipped per Month
QUANTITY: X 12
Months = Total 3,600,000 MT
GG) SHIPMENT i) The Trial Shipment shall commence within Fifteen (15)
SCHEDULE: Days to Twenty (20) Days upon the Seller receiving
from the Buyer the documents as stated in Clause: 1.a-
e, under Transaction Procedures herein below. The
Buyer’s Page 1
(ON BUYER’S OFFICIAL LETTERHEAD)
Trial Shipment shall be executed as stated in Clause:
DD) i, ii, iii herein above.
ii) The Contract Quantity Shipments shall commence after
Twenty-One (21) Days upon the Seller receiving the
Standby Letter of Credit as stated in Clause: EE,
herein above. The Contract Shipment shall be
executed as stated in Clause: EE) i, ii, iii herein above.
HH) SHIPMENT TERMS: FOB Jurong Port, Singapore.
I I) FOB PRICE: USD630.00 per Metric Ton FOB Jurong Port, Singapore.
JJ) PAYMENT TERMS: i) For the Trial Shipment of 300,000 Metric Tons, the
Payment shall be made as stated in Clause: 8 herein
below, via SWIFT Conditional MT-103/72-Wire
Transfer for each lot of 100,000 Metric Tons shipped.
ii) After the Trial Shipment has been successfully
completed, the Payment for the Twelve (12) months
Contract with total monthly Shipments of 300,000
Metric Tons, shall be by a Confirmed, Irrevocable and
Revolving Standby Letter of Credit (SBLC) valid for
one (1) year and one (1 day). The SBLC shall have a
One (1) Month’s Shipment Face Value for
300,000Metric Tons with Final Payment via SWIFT
MT-103/TT Wire Transfer. The SBLC shall allow
partial shipments of 100,000 Metric Tons per
Shipment X 3 shipments per Month X 12 months.
KK) INSPECTION: SGS shall be appointed by the Buyer to do a Dip Test on the
Product for Quality & Quantity (Q&Q) at Seller’s storage
tank at Jurong Port, Singapore. The Inspection Charges
levied by
SGS, and all the other charges levied for the Dip Test process,
are for Buyer’s account.
Buyer’s Page 2
(ON BUYER’S OFFICIAL LETTERHEAD)
TRANSACTION PROCEDURES
FOR FOB “TANK – TO – VESSEL” @ JURONG PORT, SINGAPORE
1. Buyer sends his signed and endorsed ICPO together with the following documents:
a) Buyer’s vessel details, Charter Party Agreement (CPA)
b) The Customer Information Sheet (CIS).
c) Colored Copy of Buyer’s Valid International Passport.
d) Buyer’s Company Registration Certificate of Incorporation.
e) Upon receiving above documents from the Buyer, the Seller provides Seller’s completed
KYC and the Buyer issues Proof of Funds (POF) sent via MT-199 Pre-Advice on a Bank-to-
Bank basis. The POF shall be for a minimum of USDXXX Million being the value for
100,000 Metric Tons X USDXXX per Metric Ton FOB Jurong Port, Singapore basis
2. The Seller verifies and approves the Buyer’s CPA. Upon satisfactory verification and within
twenty-four (24) hours, the Seller send his Official Acceptance Letter to the Buyer and issues
his Commercial Invoice (CI), Indicating his Storage Tank Number for the Product quantity
to be supplied at Jurong Port, Singapore storage tank, to the Buyer. The Buyer shall sign and
return the CI to the Seller via Electronic email within twenty-four (24) hours. Upon receipt of
the signed CI, the Seller sends the IMFPA / NCNDA to all the Intermediaries involved in the
on-going transaction.
3. The Seller issues the Sale & Purchase Agreement (SPA) and both Parties sign and seal
the said SPA and exchange copies electronically.
4. Once cargo arrives in the Seller’s tank according to GG) Shipment Schedule, the Seller
verifies the Buyer’s Chartered Party Agreement (CPA). Upon successful verification and
confirmation of the vessel’s validity and availability, the Seller provides the following Proof of
Products (POP).
a. Injection Report.
b. SGS Report (48 Hours).
c. Tank Storage Report.
d. Title Ownership Certificate.
e. Certificate Of Origin. (COO)
f. Authorization to Sell and Collect (ATSC).
g. Physical Authorization to Verify (ATV).
h. Unconditional Dip Test Authorization (UDTA).
4. The Buyer sends the SGS Team to conduct the Dip Test in the Seller’s Tank at the
Buyer’s expense.
5. Upon obtaining satisfactory results on the Dip Test and the Quality & Quantity (Q&Q) check
on the Product in the Seller’s storage tank at Jurong Port, Singapore, the Seller immediately and
cordially signs the acceptance of the Pipeline Agreement issued By the Pipeline Injection
Company for booking and paying the cost of the transmission.
Buyer’s Page 3
(ON BUYER’S OFFICIAL LETTERHEAD)
Injection clearance value (USD0.11/cubic meters) from the Injection Company to assign the
Injection date and the process is to commence as scheduled. Upon showing the readiness-to-
readiness for Injection of the Product, the Buyer provides to the Seller his nominated Vessel
Q88 together with the Safety Certificate of the Vessel for Injection of the Product.
6. Upon successfully receiving the details, the Seller’s Injection Company issues to the Buyer the
Notice of Readiness (NOR) with the Injection Permit to Inject the Product into the Buyer’s
vessel and the Seller immediately proceeds with vessel docking and sends the GPS Coordinates
of the Storage Tank, to enable the Buyer’s vessel to board in, for the Injection of the Product.
The Seller bears the Injection cost fees upon completion of the Injection of the Product. Upon
successful Injection of the Product into the Buyer’s vessel, the Buyer conducts the Final Dip Test
on the Quantity of the Product that has been Injected into the vessel. The Final Dip Test charges
are for the Buyer’s account.
7. Buyer makes Payment via SWIFT Conditional MT-103/72 – TT Wire Transfer to the Buyer’s
designated Bank Account within Forty (48) hours for the total cost of the Product and lifting
commences and the Seller hands over to the Buyer, the Title Ownership Certificate, and all other
relevant Export Documents.
8. The Seller pays all the Intermediaries / Agents / Mandates involved in the transaction,
mentioned in the IMFPA, within Forty-Eight (48) hours upon receiving payment form the Buyer.
9. Once both Buyer and Seller are satisfied with the Trial Shipment, they immediately sign a
Contract for monthly Shipments of 300,000 Metric Tons per month X 12 months with Rolls &
Extensions (R&E). Payment for the 12 months Contract shall be by stated per Clause: [Link])
herein above
Note: The supply shall be based on the Product Specification as per attached “Annex – I”. No
aspect of this Transaction Procedure, Product Price, Should/Shall/Can be altered when issuing
the ICPO and Commercial Invoice (CI). Any breach of the terms and conditions herein, the other
Party has the Right to institute legal action against the offender.
[Link] following Annexes are attached for the Buyer’s reference and action:
a. Annex “A” - Buyer’s Charter Party Agreement (CPA).
b. Annex “B” - Buyer’s Completed KYC Form, Including Banking Details.
c. Annex “C” - Colored Copy of Buyer’s Signatory’s Valid International
Passport.
d. Annex “D” - Copy Of Buyer’s Company Registration Certificate of
Incorporation.
e. Annex “E” - Proof Of Funds (POF) – Copy Of MT-199 Pre-Advise Of
POF.
Buyer’s Page 4
(ON BUYER’S OFFICIAL LETTERHEAD)
f. Annex “F” - Seller’s Completed KYC Form, Including Banking Details.
g. Annex “G” - Colored Copy of Seller’s Signatory’s Valid International
Passport.
h. Annex “H” - Copy Of Seller’s Company Registration Certificate of
Incorporation.
i. Annex “I” - Product Specification for EN590 Diesel Oil, 10PPM
Thank you.
(Buyer’s Company name)
(COMPANY SEAL)
Signature
Name………
Title: …………
Buyer’s Page 5
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “A”
BUYER’S CHARTER PARTY AGREEMENT (CPA)
Buyer’s Page 6
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “B”
BUYER’S COMPLETED KNOW YOUR CUSTOMER FORM (KYC) INCLUDING
BANKING DETAILS
STRICTLY PRIVATE AND CONFFIDENTIAL
Ref By:
FOR BANK USE Intake Date: xxxxx
PLEASE COMPLETE THE BELOW IN ITS ENTIRETY. NOTIFICATION TO
PROCEED WILL TAKE PLACE AFTER APPROVAL OF THE VERIFICATION
PROCESS.
COMPANY NAME
INCLUDE Entity Structure (IE INC, LLC)
BUYER SIGNATYORY FULL NAME &
TITLE
BUYER SIGNATORY ID
(Attach Copy of International Passport)
FULL BUSINESS ADDRESS
TAX ID / REGISTRATION NUMBER
SIGNATORY NATIONALITY
STATE/COUNTRY OF COMPANY
ORGINATION & YEAR FORMED
BUYER MOBILE PHONE
BUYER EMAIL
BUYER’S ATTORNEY: FULL NAME
ID NUMBER AND STATE BAR
ASSOCIATION
PRACTICE ADDRESS
ATTORNEY MOBILE NUMBER
Buyer’s Page 7
(ON BUYER’S OFFICIAL LETTERHEAD)
ATTORNEY EMAIL
PRIMARY BANKING INSTITUTION
NAME
ACCOUNT NAME
ACCOUNT NUMBER
BANK ADDRESS / WIRES
SWIFT CODE
BANK OFFICER
BANK TELEPHONE
SIGNIFY IF FUNDS ARE DOMESTIC
OR INT’L*
*INTERNATIONAL FUNDS REQUIRE
BANKING INFO FORM
FINANCIAL PROOF: BCL, EWSCROW,
OTHER
NOTICE: Prior to initiating a transaction to acquire PPE AND in full compliance with
KYC/AML Laws; all collected data will be only used for background, due diligence, conflict
checks and assessment. All information is privileged, confidential and protected.
DISCLOSURE, SIGNATORY ID & ATTESTATION PAGE TO FOLLOW
DISCLOSURES
In accordance with Articles 2 and 5 of the Due Diligence Convention and Federal Banking
Commission Circular of December, 1998, and U.S. Patriot Act of 2006 – International Money
Laundering Abatement, and Title III – Anti Terrorist Financing Act of 2001, concerning the
prevention of money laundering, and Article 305 of the Swiss Criminal Code, and the
respective British Laws, the following information must be supplied to Law Firms, Banks, and
to any other Financial Institutions, for “Know You Client” (“KYC”) compliance requirements,
as set forth by the U.S. Government, the Federal Reserve Bank, the International Banking
Organization, and the respective Governmental authorities, for purposes of verification of the
transacting entity, and the nature & origin of the funds & assets to be utilized in this transaction.
Buyer’s Page 8
(ON BUYER’S OFFICIAL LETTERHEAD)
ATTESTATION
By means of this electronic submission, we the undersigned, hereby swear under penalty of
perjury, confirm, to the best of my knowledge, that the information provided herein above is
accurate and true; that we are not members of, nor are we associated in any way, form or fashion,
with any organization, and/or cause, that supports terrorist activities, and we are not part of,
involved in, nor a front, for any Money Laundering Scheme and/or any illegal drug
trafficking. Furthermore, it is warranted that the origin-of-funds and/or subject assets are in full
compliance with Anti-Money-Laundering Policies as set forth by the International Money
Laundering Abatement, the Title III - Anti Terrorist Financing Act of 2001, Article 305 of the
Swiss Criminal Code, the respective British Laws, the Financial Action Task Force [FATF],
and the U.S. Patriot Act; that all business activities being transacted herein are of a legal
business nature.
Signatory Printed Name: xxxxxxxxxxxx
Signatory Title: xxxxxxxxxxxxx
(Company Seal)
…………………………………………………
Signature
Date: XX March 2024
International Passport Photo:
Buyer’s Page 9
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “C”
COLORED COPY OF BUYER’S SIGNATORY’S VALID INTERNATIONAL
PASSPORT
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “D”
COPY OF BUYER’S COMPANY REGISTERATION CERTIFICATE OF
INCORPORATION
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “E”
PROOF OF FUNDS (POF) - COPY OF MT-199 PRE-ADVICE
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “F”
SELLER’S COMPLETED KNOW YOUR CLIENT FORM (KYC) INCLUDING
BANKING DETAILS
STRICTLY PRIVATE AND CONFIDENTIAL
Ref By:
FOR BANK USE Intake Date:
PLEASE COMPLETE THE BELOW IN ITS ENTIRETY. NOTIFICATION TO
PROCEED WILL TAKE PLACE AFTER APPROVAL OF THE VERIFICATION
PROCESS.
COMPANY NAME
INCLUDE Entity Structure (IE INC, LLC)
SELLER SIGNATYORY FULL NAME &
TITLE
SELLER SIGNATORY ID
(Attach Copy of International Passport)
FULL BUSINESS ADDRESS
TAX ID / REGISTRATION NUMBER
SIGNATORY NATIONALITY
STATE/COUNTRY OF COMPANY
ORGINATION & YEAR FORMED
SELLER MOBILE PHONE
SELLER EMAIL
SELLER’S ATTORNEY: FULL NAME
ID NUMBER AND STATE BAR
ASSOCIATION
PRACTICE ADDRESS
ATTORNEY MOBILE NUMBER
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ATTORNEY EMAIL
PRIMARY BANKING INSTITUTION
NAME
ACCOUNT NAME
ACCOUNT NUMBER
BANK ADDRESS / WIRES
SWIFT CODE
BANK OFFICER
BANK TELEPHONE
SIGNIFY IF FUNDS ARE DOMESTIC
OR INT’L*
*INTERNATIONAL FUNDS REQUIRE
BANKING INFO FORM
FINANCIAL PROOF: BCL, EWSCROW,
OTHER
NOTICE: Prior to initiating a transaction to acquire PPE AND in full compliance with
KYC/AML Laws; all collected data will be only used for background, due diligence, conflict
checks and assessment. All information is privileged, confidential and protected.
DISCLOSURE, SIGNATORY ID & ATTESTATION PAGE TO FOLLOW
DISCLOSURES
In accordance with Articles 2 and 5 of the Due Diligence Convention and Federal Banking
Commission Circular of December, 1998, and U.S. Patriot Act of 2006 – International Money
Laundering Abatement, and Title III – Anti Terrorist Financing Act of 2001, concerning the
prevention of money laundering, and Article 305 of the Swiss Criminal Code, and the respective
British Laws, the following information must be supplied to Law Firms, Banks, and to any
other Financial Institutions, for “Know You Client” (“KYC”) compliance requirements, as set
forth by the U.S. Government, the Federal Reserve Bank, the International Banking
Organization, and the respective Governmental authorities, for purposes of verification of the
transacting entity, and the nature & origin of the funds & assets to be utilized in this transaction.
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ATTESTATION
By means of this electronic submission, we the undersigned, hereby swear under penalty of
perjury, confirm, to the best of my knowledge, that the information provided herein above is
accurate and true; that we are not members of, nor are we associated in any way, form or fashion,
with any organization, and/or cause, that supports terrorist activities, and we are not part of,
involved in, nor a front, for any Money Laundering Scheme and/or any illegal drug trafficking.
Furthermore, it is warranted that the origin-of-funds and/or subject assets are in full compliance
with Anti-Money-Laundering Policies as set forth by the International Money Laundering
Abatement, the Title III - Anti Terrorist Financing Act of 2001, Article 305 of the Swiss
Criminal Code, the respective British Laws, the Financial Action Task Force [FATF], and the
U.S. Patriot Act; that all business activities being transacted herein are of a legal business
nature.
Signatory Printed Name: XXXXXXX
Signatory Title: Managing Director
(Company Seal)
Signature
Date: xxx March 2024
International Passport Photo:
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “G”
COLORED COPY OF SELLER’S SIGNATORY’S VALID INTERNATIONAL
PASSPORT
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX - “H”
COPY OF SELLER’S COMPANY REGISTERATION CERTIFICATE OF
INCORPORATION
Buyer’s Page
(ON BUYER’S OFFICIAL LETTERHEAD)
ANNEX – “I”
PRODUCT SPECIFICATION
SPECIFICATION – EN590 DIESEL OIL, 10 PPM
PROPERTY UNITS METHOD ASTM LIMITS RESULTS
Sulphur Content mg/kg D5453 Max 10 10
Cetane Index - D4737 Min 46.0 53.1
Distillation: - °C D86 - -
-50% vol Recovered °C D86 Report 273.0
-90% vol Recovered °C D86 Max 360 337.1
-95% vol Recovered °C D86 Report 355.6
Flash point, PMCC °C D93 Min 60.0 71.0
Kinematic Viscosity @ 40 cSt D455 2.0-4.5 3.015
°C
Conradson Carbon Residue %wt D189 Max 0.20 0.02
(10% Bottoms)
Pour point °C D97 Max-7 -9
Ash Content %wt D482 Max 0.01 <0.010
Water Content mg/kg D6304 Max 200 85
Particulate Containment mg/I D6217 Max 10 2.4
Copper Strip Corrosion D130 No.1 No.1A
(3Hrs @ 50 °C) -
Density @ 15 °C kg/m3 D4052 820.0-860.0 840.4
Lubricity Microns D6079 Max 460 350
Appearance - D4176 Bright & Bright &
Clear Clear
Colour. ASTM - D1500 Max 2.0 L 1.0
Strong Acid Number mgKOH/g D974 Nil Nil
Total Acid number mgKOH/g D974 Max 0.25 0.03
Sediment by Extraction %wt D473 Max 0.05 0
Buyer’s Page