UNIVAN MARITIME (H.K.) LIMITED Issue 1 REV 0 Page 1

FLEET OPERATION MANUAL Date 18.12.2009

PURCHASE POLICY SECTION1.8

Copyrights: Univan Maritime (H.K.) Limited. All rights reserved Any unauthorized reproduction of this manual, in any form is prohibited

1.8 Purchasing Policy The Company believes that the basis for correct purchasing is regular and accurate stock taking. Maintaining excess stocks on board is poor economy and must be avoided. Efficient purchasing can be defined as giving maximum service to the ship at minimum expense to the owner. The parameters for this can be stated as correct quantity, quality, price and delivery time. To achieve this requires intimate coordination between the vessel staff and the office. First of all and most important, no ordering/purchasing of stores or spares will be made unless a requisition is made in writing on ship serve or the standard company form by the vessel and duly signed by the Head of the Department and the Master when applicable and duly authorized by the Superintendent. Exception to this being purchases of provisions, ship's bonded stores or in case of urgent store requirement for which prior approval of the office has been sought.