1.Quantity : 75000MT per month ( = Deemed Cargo Quantity is 3,694,342.43 MMBtu. )
2.FOB Price in USD per MMBtu : FOB US$5.30 per MMBtu ( = FOB US$261/MT )
3.Supply LNG maximum 250,000MT per month
SCHEDULE E: TERMS OF PAYMENT AND BANKING PROCEDURE
1. Payment for each shipment of the goods sold under the present Contract is to be made in US Dollars, by means of MT103 100%.
2. The Buyer shall guarantee the payments by a Bank Guarantee or Standby Letter of Credit or Documentary Letter of Credit MT700 covering value of monthly delivery
3.Payment for the Goods shall be made at the latest on the last of five (05) banking days after the date of presentation of loading documents at the counter of the bank.
4.All banking charges of the Buyer's Bank shall be for the Buyer's account and of the Seller's Bank shall be
for the Seller's account.
5. BANKING PROCEDURE:
5.1. Buyer issues ICPO to the Seller.
5.2. Seller issues to the Buyer the Sales and Purchase Agreement, Buyer and Seller sign the Agreement.
5.3. Buyer issues Charter Party Agreement (CPA) and Q88 vessel details.
5.4. Seller issues Laycan confirmed by the Port Authority at the loading port.
5.5 Buyer issues the Standby letter of Credit instrument to Seller's bank account.
5.6. Seller commences loading the vessel and issue full proof of product documents.
5.7. Once the loading is completed and the vessel leaves for destination port, the Seller draws down the payment against the Credit instrument.