TANKER TAKE OVER TRANSACTION PROCEDURE TTO/OPL/STS

1. Buyer accepts the Seller’s offer/Procedure, and Buyer will issue an ICPO, CP and Passport Copy.

2. The Seller will issue MOU to Buyer for securing the vessel and Title Transfer ownership. All parties sign NCNDA/IMFPA.

3. Seller Issues:

a) Bill of Lading

b) Vessel Q88

c) CERTIFICATE OF ORIGIN

d) CERTIFICATE OF QUALITY AND QUANTITY (Q&Q) at the Loading port.

e) Ullage Report

f) Invoice for Title Transfer

4. Buyer pays $198,000 for Title Transfer of the vessel to his destination or pay 3% of the product amount for

authorization to board the vessel after re-routed to the destination port.

5. The seller will issue the following POP documents and order the re-routing of the vessel to the Buyer’s desired port and

transfer the title to the potential Buyer’s company’s name.

REQUEST A LETTER OF CREDIT