Re: ISDA Master Agreement with Caltex Trading Pte Ltd

I had a conversation with Mark Taylor this morning about your board
resolution. He looked at the resolution we drafted for ECT International,
and he said it would also cover the Singapore trading, so I have drafted a
Secretary's Certificate and Incumbency Certificate for you to use. With none
of the Secretary's being located in Singapore, do you need my assistance in
getting it signed here? Who will you have sign the agreement? What do you
usually do?