Americana Petroleum Company

Purchasing Procedure

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STANDARD PROCEDURES 1. Buyer sends signed & sealed LOI on end-buyer's letterhead, including preliminary banking information and contact details, recently dated, no more than 3 days old. 2. Seller sends FCO + draft contract(s). 3. Buyer signs contract(s) and returns contract(s) along with BCL (POF) from PRIME WORLD BANK + draft copy of L/C text for seller's approval. 4. Seller's POP exchanged bank-to-bank (or via Seller's Attorney's Notarized Letter) vs. buyer's POF (BCL). 5. Seller reviews Pre-Advise L/C text and notifies buyer. 6. Buyer opens Non-Operative L/C in seller's favour. 7. Seller posts PB immediately after L/C is opened, activating buyer's L/C. 8. First shipment commences 21-45 days after opening of buyer's financial instrument. Any additional shipments to take place at regular intervals, as per contract schedule. Summary procedure 1Letter of Intent 2) Full Corporate Offer 3) Bank Comfort Letter (Proof of Funds)...Letter of Credit 4) Proof of Product 5) Performance Bond PLEASE NOTE: Financial information must be consistent with issuer of the LOI. Only Buyers are authorized to issue LOI + BCL and sign all necessary documents including Contract + opening of L/C in Seller's Favor. We do not accept LOIs issued by agents or brokers "on behalf of buyer". FOR FURTHER INFORMATION PLEASE CONTACT US: AMERICANA PETROLEUM COMPANY americapetroeldum at msn.com




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