&nbsp; <p>The payment procedure:</p> <p>The BG will be issued by top 50 of World Bank, Residue receive bank: Shenzhen Development Bank Co. Ltd. The payment will be paid in advance before product loading.&nbsp; </p> <p></p> <p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The buyer issue LOI to seller</p> <p></p> <p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The seller issue FCO to buyer when receiving the LOI within 3 international banking days.</p> <p></p> <p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The buyer will sign and return the FCO to buy within 2 international banking days.</p> <p></p> <p>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Within 3 international banking days the seller will issue draft contract to buyer review, and discussing the term conditions.</p> <p></p> <p>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Both parties sign the IMFPA in suitable form to fully protect the intermediaries on the Buyers and the Sellers sides, and to guarantee payment of the agreed fees to the intermediaries.</p> <p></p> <p>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sellers Bank to issue Bank Confirmation Letter per Draft Text Annexure B attached hereto</p> <p></p> <p>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Within three (3) international banking days of Buyer and Seller signing the final Contract, and then within 2 international days the seller issue soft POP to buyer for buyer confirmation.</p> <p></p> <p>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; three (3) international banking days of receipt by Buyer and Buyers Bank of Bank Confirmation Letter as required by Clause 6 above, Buyers Bank shall transmit message by SWIFT MT799 to Sellers Bank, on a Bank to Bank basis as per the sample text supplied by the Seller (Refer Annexure X attached), issued by a top 50 World Bank, Western European, UK or United States based, in text/format acceptable to the Seller and Sellers Bank.</p> <p></p> <p>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Within three (3) international banking days of receipt by the Sellers Bank of the SWIFT MT799 message per Clause 8 above, to the complete satisfaction of the Seller and the Sellers Bank, Sellers Bank will transmit SWIFT MT760 message to Buyers Bank that it is to issue &nbsp;&nbsp;&nbsp;&nbsp;% Performance and Proof of Product, and SWIFT MT103 for the value equivalent of the Net refundable Cash (NRC) (as per Clause Annexure MT103/23) annexed hereto, subject to receiving BGs issued by or with an AVAL from (confirmed by) a top 50 World Bank, Western European, UK or United States based or sellers option and buyer agreed, for value equivalent of Twelve months supply of Product, and for any overpayment amount,&nbsp; within three (3) international banking days of Clearance per Clause 11 below and subsequent Tranches.</p> <p></p> <p>10.&nbsp;&nbsp;&nbsp;&nbsp; Within three (3) international banking days of receipt by the Buyers Bank of the SWIFT MT760 message per Clause 9 above, Buyers Bank will deliver by SWIFT MT 760 said BGs (per text Annexure D attached) issued by or with an AVAL from (confirmed by) a top 50 World Bank, Western European, UK or United States based, to the Sellers Bank per Clause 7 of the Contract, with a Face Value at least equal to US$00,000,000,000 (00 Billion 00 Hundred Million United States Dollars), or any greater Face Value as the Buyer may elect. BGs and AVAL to be authenticated, verified and confirmed, Bank to Bank. Sellers Bank will advise Buyers Bank within one (1) International Banking Day by Bank to Bank SWIFT of BGs and AVAL having been authenticated, verified and confirmed, and as being acceptable in terms of the Contract (referred to hereinafter as Clearance).</p> <p></p> <p>11.&nbsp;&nbsp;&nbsp;&nbsp; Within three (3) international Banking days of Clearance of BGs per Clause 10 above, Sellers Bank shall issue SWIFT MT103 payment for First Tranche of Net Refundable Cash (NRC) to Buyers Bank and subsequent Tranches per Annexure MT103/23.</p> <p></p> <p>12.&nbsp;&nbsp;&nbsp;&nbsp; First loading is to be within 38 days from Seller/Seller Banks Clearance of BG pursuant to the procedures as detailed in Clauses 7 to 10 inclusive above, and in conformity with the requirements of shipment agreement of this Contract. The Seller will confirm the loading schedule of the product to allow the Buyer to arrange port facilities to receive the product as per loading schedule to be agreed upon between the parties.&nbsp; All other clauses shall protect the Buyer as contained herein under International Law.</p> <p></p> <p>13.&nbsp;&nbsp;&nbsp;&nbsp; Each Party hereto will bear its respective banking costs / charges and the Buyer shall arrange and pay the cost of an AVAL by a third acceptable bank with full banking responsibility in the event that the BG is not issued by a top 50 World Bank, Western Europe, UK or United States based, or alternative Bank approved by Seller. Should any amendments to the BG be requested once issued, then the Party requesting the change will be responsible for the payment of the related costs, unless changes are needed to construct the instruments in compliance with this Contract, then the costs shall be borne by the faulting party.</p> <p></p> <p>14.&nbsp;&nbsp;&nbsp;&nbsp; The commission will pay by IMFPA from seller.</p>