Subject: RE: LOI NO. EIHG/LBCO0SE/1/08252023/001 DATED 25TH AUGUST |Confirmed Pricing
From: <[email-masked]>
To: "'George Thomas'" <[email-masked]>, <[email-masked]>, <[email-masked]>, "'Elyas Niroomand Toomaj'" <[email-masked]>, "'Majid'" <[email-masked]>
Date: Thu, 21 Sep 2023 04:09:29 -0700

Dear Thomas ,

Good day,

To sum up the discussions and our intention to start working with you, we 
can confirm following procedure :

1.	Contract signature
2.	Issue a bank cheque in Dubai with the amount of 140% of total values of 
the cargo
3.	Release documents of the vessel and issue dip test authorization and make 
dip test at OPL
4.	After dip test result confirmed make 2 million USD payment
5.	Vessel will approach to the port and get entry notice and Buyer shall pay 
20% after entry notice and before vessel entering to anchorage
6.	Pre custom shall be under the name of seller till full payment and cargo 
agent firstly shall be seller’s nominate company, in case of termination of 
the contract due to not payment from the buyer side, buyer shall issue the 
cancelation letter to the custom latest by 12 hours after request of the 
seller
7.	Buyer shall make another 20% after tender NOR at the anchorage
8.	Vessel will get berth order and buyer shall start to make the remaining 
payment before discharge up to 100%

Please check the procedure and in case of acceptance let us know to proceed.

Regards,

Elyas

From: George Thomas <[email-masked]>
Sent: Thursday, September 21, 2023 1:28 AM
To: [email-masked]; [email-masked]; [email-masked]; 
'Elyas Niroomand Toomaj' <[email-masked]>; 'Majid' 
<[email-masked]>
Subject: RE: LOI NO. EIHG/LBCO0SE/1/08252023/001 DATED 25TH AUGUST 
|Confirmed Pricing
Importance: High

Dear Sir,

My thanks for your response but unfortunately you are still not matching the 
original offer, which has already been made to our clients. It is our 
company's responsibility to ensure that the client is real and will complete 
the contract on a successful Q&Q at OPL. Our SPA will make the purchase 
legally binding upon a compliant Q&Q, plus the client will be involved in 
considerable expense to carry out the testing at OPL. Far too much cost for 
any organisation which is "playing" or has no real intent to perform.

It is not conceivable that a client will pay USD $2 million for the name of 
a ship, which by its very nature can be anywhere the following 24-hours and 
which could contain any cargo suitable for that vessel. Of course, no one 
doubts the veracity of your information but for no apparent reason you have 
changed the offer and asking for a level of trust from new clients that is, 
in the current market and at this stage of the relationship, impossible.

Your original offer made excellent sense. The client gains firsthand 
knowledge of the cargo by Q&Q; then immediately transfers an advance payment 
of USD $2 million, the vessel then proceeds into port and begins to 
discharge the load while the client transfers the balance, always adjusting 
at the end of the process by +/- 10%.

If you can keep to your original offer, we can proceed and review the 
contract so that it reflects the deal we have in front of us,

Regards

George A. Thomas

GM, Legal and Administrative Affairs

Emirates International Holdings Group

Tel: +971 4 255 2929

Cell: +971 55 781 7599

Email: [email-masked] <mailto:[email-masked]>

On 20/09/23 07:48 PM, [email-masked] <mailto:[email-masked]> 
wrote:

Dear Thomas,

Good evening,

Based on our discussion with our management please consider following items:

1.	We will give you name of the vessel and specification of the on board 
cargo
2.	Contract signature
3.	You will make 2 million USD down payment which will be deducted from 
final value of the cargo
4.	We will issue the dip test authorization at OPL and give all requested 
document
5.	After dip test confirmed result, you will make the remaining payment up 
to 100%
6.	We will transfer the title and charter party of the vessel and instruct 
the vessel to discharge at your nominated discharge port

Please advise about above plan and make the required comments on the 
contract to proceed.

Looking forward to hearing from you very soon.

Regards,

SEJ Company

From: George Thomas <[email-masked] 
<mailto:[email-masked]> >
Sent: Wednesday, September 20, 2023 1:12 AM
To: [email-masked] <mailto:[email-masked]> ; 
[email-masked] <mailto:[email-masked]> ; 
[email-masked] <mailto:[email-masked]> ; [email-masked] 
<mailto:[email-masked]> ; 'Elyas Niroomand Toomaj' 
<[email-masked] <mailto:[email-masked]> >; 'Majid' 
<[email-masked] <mailto:[email-masked]> >
Subject: RE: LOI NO. EIHG/LBCO0SE/1/08252023/001 DATED 25TH AUGUST 
|Confirmed Pricing
Importance: High

Dear Elyas,

My thanks for your email and quick response.

I wish to refer you to an earlier email (9-4-2023) from you and your 
colleague which we based our client's expectations upon and indeed drafted 
documents in line with your comments.

The key elements of your email are listed below:

1.	Vessel name and BL shall be provided and dip test in OPL is also can be 
arranged if buyer has representative to perform it
2.	Buyer shall make 2 million USD as down payment and buyer shall nominate 
storage tank agreement
3.	20 % after entry notice to the anchorage
4.	80% after berthing notice
5.	Vessel will be discharged after full payment received into seller 
nominated bank account

As you can see, the very first point allows the prospective client to carry 
out Q & Q at OPL destination port. This is reasonable and normal practice.
It is essential that this ability to Q&Q before any advance payment is 
agreed in principle prior to any further administrative effort by us to 
review, reform and structure the agreement. Offered and agreed terms must be 
retained else chaos ensues.

We remember when this possible contract was based on Ex-Shore Tank terms. We 
spent a great deal of time and effort (cost) in perfecting the documents and 
then the deal did not go ahead for your internal reasons. We cannot continue 
to bear the costs when contracts seem to disappear on whim.

Please revert to the offered terms.

Regards

George A. Thomas

GM, Legal and Administrative Affairs

Tel: +971 4 255 2929

Cell: +971 55 781 7599

Email: [email-masked] <mailto:[email-masked]>

On 18/09/23 05:03 PM, [email-masked] <mailto:[email-masked]> 
wrote:

Dear Thomas,

Good afternoon,

Thank you for your email.

Regarding 2 million USD down payment we have discussed with Mr. Moghaddasi 
and already informed him about our concerns.

There are many requests and we need to separate the serious buyers, and we 
have concerns of spreading the information in the market.

For this reason we put down payment and in case of receiving down payment we 
will release the vessel information.

This down payment will be deducted from the total value of the cargo, and 
our previous buyers has already confirmed for this item and perform it as 
per our request.

But for proceeding please correct any item in the contract and then we will 
check with our management and inform you about it.

Looking forward to hearing from you very soon.

Regards’

Elyas

From: George Thomas <[email-masked] 
<mailto:[email-masked]> >
Sent: Monday, September 18, 2023 1:53 AM
To: [email-masked] <mailto:[email-masked]> ; 
[email-masked] <mailto:[email-masked]> ; 
[email-masked] <mailto:[email-masked]> ; [email-masked] 
<mailto:[email-masked]> ; 'Elyas Niroomand Toomaj' 
<[email-masked] <mailto:[email-masked]> >; 'Majid' 
<[email-masked] <mailto:[email-masked]> >
Subject: RE: LOI NO. EIHG/LBCO0SE/1/08252023/001 DATED 25TH AUGUST 
|Confirmed Pricing
Importance: High

Dear Elyas,

My sincere thanks for your email; I began reviewing the document but 
immediately there is a condition which was not agreed in our previous 
discussions.

The offending clause is as below:

Note 1:

After contract signing, the buyer will make the payment of  2 million USD in 
the seller’s nominated bank account and after receiving the down payment, 
the seller will send a copy of the full set of shipping/cargo documents to 
the buyer for verification and acceptance.

Please review and send us an agreement that reflects the prior discussions,

Regards,

George A. Thomas

GM, Legal and Administrative Affairs

Emirates International Holdings Group

Tel: +971 4 255 2929

Cell: +971 55 781 7599

Email: [email-masked] <mailto:[email-masked]>