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Sale and Purchase Agreement

Agreement Transaction Code:
GLOBALENERGY/2400000TMICUMSA45/11JUNE12

White Sugar Icumsa 45 RBU

Between

Seller

Infoservice Gestión, S.L.

Spain

And

Buyer

GLOBAL ENERGY LOGISTICS INC.

Panamá

SELLER |
COMPANY: | INFOSERVICE GESTION, S.L. |
ADDRESS: | DOCTOR SANTERO, 8 |CITY: | MADRID |
COUNTRY: | ESPAÑA |
REPRESENTANT: | Javier Díaz Pacheco Nieto |
PASSPORT: | BC383152 |
TELEFONO: | +34 91 543 08 03 |
FAX: | +34 91 550 01 55 |
COMMERCIAL REG.:| B83541300 |
EMAIL: | javier.diaz@infoservicegestion.com |

hereinafter referred to as the “Seller”


COMPANY: | |
ADDRESS: | |
CITY: | |
COUNTRY: | |
REPRESENTANT: | |
PASSPORT: | |
TELEFONE: | |
FAX: | |
Federal : | |
E-MAIL: | |hereinafter referred to as the “Buyer”

Seller and Buyer are hereinafter referred to as “Party” or together as “Parties”.

Whereas:

A. This Agreement is only to be circulated between the aforesaid Parties.
B. It is hereby agreed that any information contained in this Agreement is not permitted to be disclosed or released to, except as provided for under this Agreement.
C. This Agreementis made between the Seller and the Buyer, whereas the Seller is willing to sell and the Buyer is willing to buy the Goods under the terms and conditions set forth herein.

Definitions and Abbreviations:

Unless the context otherwise defined, the following terms shall have the meanings respectively assigned to them:

“Contract or Agreement”: This Sales and Purchase Agreement”.“Goods”: White Sugar Icumsa 45 RBU


“Metric Ton”: 1,000 Kilograms (MT).

“ICC”: International Chamber of
Commerce

“Incoterms 2010”: Standard Trade Definitions most commonly used in international sales contracts and agreements, published by the ICC.

“CIF”: Cost, INSURANCE and Freight as per Incoterms 2010.

“Months”:Calendar months according to the Gregorian calendar.

“International Banking Days”
or “IBDs”: The days and dates when banks conduct business, hence, same as business days. These days do not include weekends, public holidays in the country of the bank or bank holidays.

“Loading Port”: The port where the Goods are first loaded onto the vessel by the Seller at a location as stipulated inthis Agreement in Article 6.

“Discharge Port”: The final port of delivery and discharge of the Goods as stipulated by the Buyer in this Agreement in Article 9.

“S.G.S.”: Societé General De Surveillance, the international inspecting, testing, certification and verification services provider.

“Delivery Schedule”: The schedule of shipments that the Seller shall comply with as set outwithin this Agreement in Appendix 1.

“Effective Date”: The date on which the Agreement comes into legal force and effect as

“Commencement Date”: The date on which the first shipment leaves the Loading Port

“arDLC”: auto revolving Documentary Letter of Credit

Specification and health requirements:
|

White refined sugar – ICUMSA 45 for human consumption shall conform to thefollowing specifications:

COMMODITY: WHITE REFINED CANE SUGAR HUMAN CONSUMPTION
ORIGIN: BRAZIL
ICUMSA: 45 RBU
COLOR: Sparkling White maximum 45 ICUMSA attenuation units (ICUMSA method nº 4/1978)
POLARIZATION: 99.80% MINIMUM AT 20 DEG. CENTIGRADE
SOLUBILITY: 100% DRY/FREE FINE FLOWING
MOISTURE: 0.04% MAXIMUM ON DRY WEIGHT BASIS
ASH CONTENT: 0.04% MAXIMUM BY ELECTRICAL CONDUCT...
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