Prices are in the attached table. Purchasing Mechanism We estimate that the first shipment will be made within a maximum of two to four weeks from the date of opening the Letter of Credit (L/C). The payment process and transaction terms proceed according to the following steps: 1 The buyer signs the FCO (Final Corporate Offer) terms and conditions and returns it to the seller. 2 The seller issues the Sale and Purchase Agreement (SPA), for the buyer to review, along with its attachments, which include: ◦ Technical details of the commodity (see attachment), ◦ Delivery plan for all shipments, ◦ Quantities, ◦ Destinations (to be specified by the buyer), ◦ And signed and sealed technical specifications. 3 The buyer reviews and signs the SPA and returns a softcopy to the seller. 4 The seller reviews the SPA and issues a formal Commercial Invoice and sends it to the buyer within three (3) banking business days for final signature and sealing. 5 The buyer prepares a draft of a Letter of Credit for the total contract value (US$ xxx) based on MT700 (Letter of Credit), at sight, confirmed, and irrevocable, with full guarantee from the buyer's bank for the total contract value, and sends it to the seller's bank for review and confirmation. 6 The seller finalizes the review of the draft L/C and is ready to receive the L/C. 7 The buyer's bank must register and activate the mentioned L/C within 14 days after issuing the commercial invoice, and release it for issuance. The buyer's bank issues an MT700 Letter of Credit with coverage of at least 20% of the total contract value, confirmed, irrevocable, revolving, and transferable to the seller's bank. (i.e., 20% of the total contract value x price per ton = specified amount). 8 The seller's bank issues the Proof of Product (POP). 9 Within ten (10) business days, the seller commits to executing the purchase order registration. 10 The seller begins the shipping process. 11 For Proof of Funds (POF) and Proof of Product (POP) purposes, the buyer's bank may issue an MT705 L/C first, which allows for one of the following options: a) The buyer's bank communicates directly with the seller's bank to obtain the POP. b) The buyer authorizes any representative (such as SGS in Saudi Arabia) for this purpose. c) The buyer visits the facilities personally.