SAUDI ARAMCO PRODUCTS TRADING COMPANY

GENERAL TERMS AND CONDITIONS

FOR SALES AND PURCHASES OF BULK PRODUCTS,

APRIL 2013 EDITION

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TABLE OF CONTENTS

Page

PART I: TERMS OF GENERAL APPLICATION ............................................................................... 6

1. APPLICABILITY OF THESE GENERAL TERMS AND CONDITIONS ............................. 6

2. DEFINITIONS .......................................................................................................................... 6

3. INTERPRETATION ............................................................................................................... 10

4. PRODUCT QUANTITY ......................................................................................................... 10

5. PRODUCT QUALITY ............................................................................................................ 10

6. CLAIMS IN RESPECT OF QUALITY/QUANTITY ............................................................ 10

7. PAYMENT .............................................................................................................................. 11

8. TAXES .................................................................................................................................... 14

9. FORCE MAJEURE ................................................................................................................. 14

10. HEALTH, SAFETY AND ENVIRONMENT ........................................................................ 16

11. CONFIDENTIALITY ............................................................................................................. 16

12. LIMITATION OF LIABILITIES ............................................................................................ 17

13. TERMINATION OR SUSPENSION ...................................................................................... 17

14. ASSIGNMENT ....................................................................................................................... 17

15. AMENDMENT OF AGREEMENT ....................................................................................... 17

16. NOTICES ................................................................................................................................ 17

17. EDOCS .................................................................................................................................... 18

18. DESTINATION ...................................................................................................................... 18

19. FACILITATION PAYMENTS AND ANTI-CORRUPTION ................................................ 19

20. GOVERNING LAW ............................................................................................................... 20

21. DISPUTE RESOLUTION ....................................................................................................... 20

22. MISCELLANEOUS ................................................................................................................ 21

PART II: FOB DELIVERIES .............................................................................................................. 23

23. DELIVERY, TITLE AND RISK OF LOSS ........................................................................... 23

24. QUANTITY AND QUALITY ................................................................................................ 23

25. PRODUCT SAMPLING, RETENTION AND TESTING OF THE RETAINED SAMPLE ................................................................................................................................. 24

26. VESSEL NOMINATION ....................................................................................................... 24

27. VESSEL ACCEPTANCE ....................................................................................................... 25

28. VESSEL SUBSTITUTION ..................................................................................................... 25

29. VESSEL ARRIVAL ................................................................................................................ 26

30. LOADING AND LOADING CONDITIONS ......................................................................... 26

31. TENDER OF NOTICE OF READINESS (NOR) .................................................................. 27

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32. LAYTIME COMMENCEMENT ............................................................................................ 28

33. COMPLETION OF USED LAYTIME ................................................................................... 28

34. LAYTIME ALLOWANCES ................................................................................................... 29

35. USED LAYTIME DEDUCTIONS ......................................................................................... 29

36. DEMURRAGE ........................................................................................................................ 31

37. DEMURRAGE RATE DETERMINATION .......................................................................... 31

38. DEMURRAGE CLAIM SUBMISSION ................................................................................. 32

39. VESSEL CARGO HOLD INSPECTION ............................................................................... 32

40. COMPLIANCE WITH ISPS CODE ....................................................................................... 32

PART III: CIF, CFR AND DAP DELIVERIES .................................................................................. 33

41. DELIVERY, TITLE AND RISK OF LOSS ........................................................................... 33

42. QUANTITY AND QUALITY ................................................................................................ 33

43. PRODUCT SAMPLING AND RETENTION AND TESTING OF THE RETAINED SAMPLE ................................................................................................................................. 34

44. PART CARGO LOTS DELIVERED CFR OR CIF ............................................................... 34

45. INSURANCE .......................................................................................................................... 34

46. AGREED DATE RANGE AND FIRM AND INDICATIVE AND GUARANTEED DISCHARGE DATES ............................................................................................................ 35

47. VESSEL NOMINATION ....................................................................................................... 36

48. VESSEL ACCEPTANCE ....................................................................................................... 38

49. VESSEL SUBSTITUTION ..................................................................................................... 38

50. ALTERNATIVE OR RANGE OF DISCHARGE PORT(S) .................................................. 39

51. VESSEL ARRIVAL ................................................................................................................ 39

52. DISCHARGE .......................................................................................................................... 40

53. TENDER OF NOTICE OF READINESS (NOR) .................................................................. 41

54. LAYTIME COMMENCEMENT ............................................................................................ 42

55. COMPLETION OF USED LAYTIME ................................................................................... 43

56. LAYTIME ALLOWANCES ................................................................................................... 43

57. USED LAYTIME DEDUCTIONS ......................................................................................... 44

58. DEMURRAGE ........................................................................................................................ 44

59. DEMURRAGE RATE DETERMINATION .......................................................................... 45

60. DEMURRAGE CLAIM SUBMISSION ................................................................................. 45

61. TIME ALLOWED AND DAMAGES FOR DELAY UNDER INDICATIVE AND GUARANTEED DISCHARGE DATE CONTRACTS .......................................................... 45

62. CHARTER PARTY CONDITIONS ....................................................................................... 46

63. VESSEL CARGO HOLD INSPECTION ............................................................................... 47

64. COMPLIANCE WITH ISPS CODE ....................................................................................... 47

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ANNEX A: SALE & PURCHASE OF SULPHUR PRODUCTS ...................................................... 48

1. APPLICABILITY OF THIS ANNEX A................................................................................. 48

PART I: FOB DELIVERIES OF SULPHUR ...................................................................................... 48

2. APPLICABILITY OF THIS ANNEX A, PART I .................................................................. 48

3. VESSEL NOMINATION ....................................................................................................... 48

4. LOADING AND LOADING CONDITIONS ........