Location: RUSSIA, NOVOROSISK PORT

Grade 1 Russian wheat.
Products: WHEAT, Grade 1 Specifications: Crop Year: 2017 Test Weight: 77kg/hl Min Protein (on dry basis nx5.7): 12.5 pct Min Wet Gluten: 26-27 pct Min Moisture: 14 pct Max Foreign Matters (including 0.2 pct Max avena spp): 1 pct Max (up to 1.5 pct max acceptable with price reduction on basis of one per one, fractions on pro-rata basis) Shrunken/broken kernels (under 2x20 mmsieve): 4 pct Max Sprouted kernals: 2 pct Max Heat damaged kernals: 0.4pct Max Falling number: 270 seconds Min Live insects (including mite): Nil Smut/Ergot/Eurygaster/Fungus : Substantially free Unnatural odour/flavour/colour/: Nil Packaging: bulk Quantity: 25,000 MT’s +/- 5% (buyer’s option) per month via vessel load. Duration: 12 month with rolls and extensions. Loading Port: Novorossiysk or other local loading port. Delivery Port: Safe Sea Port. Price: In bulk $199 per mt FOB Novo. The price is fixed for the initial 12 month. Freight rate will be reevaluated every 12 months Terms: FOB, INCOTERMs 2010 (and may be revised from time to time). Delivery: First delivery to commence within 30 to 60 calendar days of mutually agreed to payment guarantee which is open and operative. Bill of lading is considered delivery date. Each delivery thereafter will be within 30 calendar days. Inspection: SGS or similar at loading port at Seller’s expense. Buyer may visit at their option the vessel loading(s) and make product inspection at their own expense. Insurance: Insurance is the responsibility of the Buyer. Payment Terms: Payment is to be 100% at sight loading port against all required documentation. • The Buyer will post thereafter and within 5 banking days a Standby Letter of Credit (SBLC) for 2 (two) months shipping value. This will act as a payment guarantee and to be in place for the duration of the contract plus 2 months for a total of 14 months. The payment guarantee will be issued from a prime world bank that is originated from a mutually acceptable branch (City and Country). If the payment guarantee is not issued from a prime world internationally acceptable bank the Buyer will have the payment guarantee confirmed at the Buyer’s own expense. The payment guarantee bank instrument shall be open and operative and made irrevocable, transferable. • Each separate loading/delivery will be paid via bank to bank swift cash wire transfer (TT), payable at sight upon presentation of standard loading-port documents. • Banking: The Buyer will use prime world banking from acceptable country and branch city. • Product Documentation for Payment: - Commercial Invoice(s) - Bills Of Lading (B/L) - Original Certificate of Origin - Weight Certificate - Quality Certificate - Phytosanitary Certificate - Radiation Free certificate - Insurance Documentation Procedures: 1. Buyer issues detailed LOI with full banking against the sellers FCO (this document) along with the buyer’s company profile; 2. Seller issues the Sales Purchase Agreement to be completed and exchanged; 3. Buyer opens their payment guarantee; 4. Seller proceeds with the deliveries as per agreement; 5. Buyer settles as per invoice(s) and other required documents per each delivery; Special Condition(s): Please note that Electronic Transmitted Documentation (ETD, can be e-mails and Fax) and agreements are deemed legal and binding. - Third Party Documents and banking is considered acceptable and deemed legal. - Buyer has the option at their own expense to have their appointed independent inspection company or representative of the buyer, observe/view the loading and do their own independent quality survey of the product(s). However this cannot delay, halt or impede the delivery in any way. - English is to be the legal language of the Sales Purchase Agreement / Contract. - All communication and documentation are to be held in complete confidentiality and documents passed only between banks and the buyer and seller as per contact. • Seller is responsible for: All fees at loading port inclusive of export fees, taxes due prior to loading and within the origin and loading port country, liens, levies and handling. • Buyer is responsible for: All required import permits, fees and charges from the discharge port, taxes, permits, port costs and fees at the designated destination port. Handling expenses at discharge port after product is off loaded from the vessel.