SOP Exhibits

Title:

Definition of Shipping Terms

SOP Number : GM-IM08

ANNEX A

DEFINITION OF SHIPPING TERMS

1. Arrastre - Group of persons working on the docks/pierside.
2. Bad Order - Stocks with busted/damaged containers.
3. Barge - A large flat-bottomed boat for freight on rivers, etc., usually used in transhipment
of cargo from large vessels undertaking shipside unloading.
4. Berth -The space alloted to a vessel at anchor or at a pier.
5. Bill of Lading -The main document for the regulation of the relationship between the customer (frequently the shipper), the carrier and the consignee. It may constitute (a) a receipt for the goods which have been received for shipment or shipped; and (b) a contract for the carriage of the goods and the delivery thereof and thus contain the terms and conditions of carriage.
6. Boom - A long beam extending as from an upright for the supporting and guiding cargo lifted and unloaded from the vessel to the barge or pier.
7. Carrier - Hauler of grains referring to trucks whether NFA owned or private trucking contractor.
8. CDR - Contractors' Delivery Receipt.
9. Despatch - Time saved in loading/unloading prior to the expiration of allowed laytime.
10. Demurrage - Time lost in unloading of cargo; time spent in unloading of cargo in excess of the allowed laytime.
11. Gang - Group of persons arrastre or stevedors involved in port operation assigned to a specific area of operation.
12. Hold - compartment on the vessel where cargo is stored or loaded. The number of holds in a vessel varries depending on the size and the shape of the ship.
13. Hatch - Hold's cover or deck opening of a vessel.
14. Laytime - Time allowed in loading/unloading of cargo generally computed by dividing the Bill of Lading quantity in gross tonnage by the agreed discharging rate.
15, Notice of Readiness (NOR) - A written/printed notice by the vessel's master informing consignee (NFA) that the ship is reading in all aspects to discharge her cargo.
16, Pierside Unloading - Discharging/unloading operations of grains from the vessel carrier alongside the pier or direct to the trucks for delivery to the NFA Terminal Warehouse.
17. Shipper - The contracting party of the carrier. In case of FOB shipment, it is the NFA and for CIF or C & F, it is the seller.
18. Shipside Unloading - Discharging operations of grains from ocean goving vessels or streamers wherein cargo is unloaded on barges/lighters or to another vessel alongside the vessel carrier.
19. Sling - Device attached to a boom by means of pulleys used by stevedores to unload cargo from the hatch of a vessel to either the pierside or shipside of the vessel.
20. Stevedores - Group of persons working on the ship.
21. Terminal Warehouse - Any NFA operated warehouse, whether NFA owned or leased/bonded warehouse and designated by proper authorities to receive grains transported by duly authorized haulers either thru pierside or shipside unloading.
22. Unloading Receipt (UR) - NFA accountable form which shall document NFA Trucker contractor's receipt of stocks from vessel/carrier for delivery to NFA's first terminal warehouse.