SOP Exhibits
Title:e-TRADE-Offer to Buy

SOP Number : TS-ES12

Exhibit 4

NATIONAL FOOD AUTHORITY
e-TRADE TRADING SYSTEM

OFFER TO BUY

I/We ____(Name of buyer/s)____as a Buyer under the NFA e-TRADE Trading System _____(Organization)_______ with address at _______________________ offer to buy corn of _____(volume in bags)_______ at P___________/kg, to be withdrawn at _____________________________________. I/We hereby agree to abide with the following terms and conditions:

1. That the above offered buying price shall remain valid unless I/we execute a new Offer to Buy. I/We agree to amend our buying price only once a day which the new buying price shall be posted in the Buyers’ Board the following day:
2. I/We agree to pay the P 0.25 /kg commitment fee upon execution of this Offer to have my/our buying price posted in the Buyers’ Board;
3. If this Offer is matched, I/we shall execute a Sales Order and pay the total purchase price in cash, Manager’s/Cashier’s Check within 24 hours upon notification by the MTC, failure of which shall mean forfeiture of the commitment fee and cancellation of this offer.
4. I/We agree to withdraw the stocks within the schedule prescribed by NFA, otherwise I/we will be charged a daily storage fee at a rate set by the NFA.

This offer supersedes my Offer to Buy dated ______________________________. _____________________________________ ________________________
Printed Name & Signature of Representative Date & Time Received
_______________________________________ ____________________________
Telephone Number Transaction Code Copy Distribution: Amount: ________________ 1. The PTC shall receive information on interested buyers in Metro Manila which the sellers may view and use as basis for sellers’ asking price. On the other hand, the Manila Trading Center (MTC) shall maintain information update on the available corn deposits and historical and prevailing wholesale prices in Metro Manila and participating source provinces. Through the wide area network ( WAN) of NFA, interested buyers in Metro Manila can buy the posted corn stocks from the participating provinces. 2. The buyers’ offers shall always be used as the basis for matching. Priority shall be given to the buyer with the highest offered price. 3. If the choice is between or among sellers offering the same lot quantity and price, the offer with the earliest posting of Offer to Sell shall be matched with the buyer. 4. In the same manner, if the choice is between or among buyers with the same lot and quantity requirement, the buyer with the earliest posting of Offer to Buy shall be matched to the seller. 5. The volume/quantity of a buyer or a seller can be matched partially or in full. Offers of buyers/sellers whose volume have not been fully matched shall remain open for trading to the extent of the balance and shall retain their priority ranking under the first come-first serve basis. 6. The e-TRADE Trading System shall first try to match buyers who posted offers before walk-in buyers are entertained. Walk-in buyers’ offers shall be matched at the last hour of trading and only if the buyer gives a commitment fee and pays in full the total purchase price within 24 hours. 7. Offers that are matched shall be marked CLOSED in the trading boards. The MTC shall immediately notify the buyer that his offer has been matched and shall be asked to accomplish the Sales Order (Exhibit 5) and pay the total purchase amount within twenty-four (24) hours upon notification of the match by the MTC. If the buyer fails to pay the total purchase amount within 24-hours, the seller’s offer which was matched with his offer shall be re-opened (the mark CLOSED shall be removed from the trading boards). The buyer’s commitment fee shall be forfeited and his offer shall be cancelled/delisted from the trading boards. 8. Matched sellers’ stocks shall be marked “ SOLD per OR NO. ___” on the trading boards only if full payment for the stocks has been received. No partial payment shall be allowed. Delisting of sold lots from the Seller’s and Buyer’s Boards shall be effected only after one week after the transaction has been consummated.

__________________________________ Printed Name and Signature of Buyer