FCO and SALE & PURCHASE AGREEMENT FOR AU METAL

(IN JAKARTA INDONESIA)

TRANSACTION CODE
SELLER’S CODE
BUYER’S CODE

This Sale and Purchase Agreement for AU Metal (Hereinafter referred to as “Agreement”) is entered
into and executed on this day the August 12, 2019, by and between the following parties:

SELLER
Seller Name
Passport Number
Nationality
Address
Telephone Number
Fax Number
Email Address
Hereinafter referred to as the “SELLER”

BUYER
Buyer Company
Representative
Passport Number
Nationality
Address
Telephone Number
Fax Number
Email Address
Hereinafter referred to as the “BUYER”

WHEREAS, the undersigned, representing the Seller, has the authority to sell and deliver this precious
AU Metal and enter into this Agreement under the Transaction Code: AU …………. 2019. The Seller also
confirms with full corporate authority and legal responsibility that he is ready, willing and able to sell
the said Gold Bars (AU Metal) and provides his Bank Deposit Account, with banking details attached
hereto as Appendix A.

WHEREAS, the undersigned, representing the Buyer, confirms with full corporate authority and legal
responsibility, that he is ready, willing and able to buy the said Gold Bars (AU Metal) under the
Agreement with Transaction Code: AU…………… 2019. The Buyer provides local bank statement on
actual day of transaction.

WHEREAS, the Seller warrants with full legal responsibility and under penalty of perjury and fraud that
it has in its own possession and authority the Gold Bars (Au Metal) commodity as specified herein
(hereinafter referred to as "the Commodity"), that said Commodity is free from any liens and
encumbrances, has no criminal origin; nor has it been as a deposit or collateral for a credit line or a
financial intranet, and that it is ready, willing and able to deliver the Commodity under the terms and
conditions as stipulated. In this Agreement, in addition, the Seller warrants that the Commodity does
not contravene any of the following laws:

a) The Drug Trafficking Act of 1986

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b) The Criminal Act of 1988

c) The Prevention of Terrorism Act (Temporary, Provisions) of 1989
d) The Criminal Justice (International Cooperation) Act of 1990
e) The Criminal Justice Act of 1993
f) The Trade Secret Act of 1979
g) The Electronic Espionage Act of 1993 (18 U.S.C. 1839-3)
h) The Antiterrorism, Act and the patriot Acts I and II (2003 and latest Revisions)
i) The Syrian Accountability and Lebanese Sovereignty Restoration Act of 2003
j) Or any other Illegal or Criminal Activity

NOW THEREFORE, in consideration of the mutual interests and covenants, the parties hereby confirm
with full personal and corporate and legal responsibility, under penalty of perjury, and unconditionally
agree to the following terms and conditions stipulated hereunder

1. TERMS & CONDITIONS

Commodity AU METAL GOLD IN BAR FORM
Size 1 KILOGRAM BAR
Total Quantity 12 MT (TWELVE METRIC TONS) WITH ROLLS AND EXTENSIONS
Hallmark INTERNATIONAL RECOGNIZED HALLMARK.
Purity 999.5/1000 FINENESS
THE SECOND FIXING LONDON BULLION MARKET ASSOCIATION (LBMA) OF THE
Price
PREVIOUS DAY OF THE DATE OF THE ASSAY REPORT/INSPECTION
6.50% TOTAL GROSS DISCOUNT, 3.50% NET DISCOUNT TO BUYER
1.00% CONSULTANT FEE FOR BUYER SIDE
Discount 2.0% CONSULTANT FEE FOR SELLERS INTERMEDIARIES

Delivery/Location FOB JAKARTA (BUYER’S DESIGNATED LOCATION)

First Lift 50 KG (Fifty Kilogram)
Subsequent Lifts To be discussed
Tranche Quantity SEE TRANCHE DELIVERY SCHEDULE
Payment BANK TO BANK TRANSFER

2. DOCUMENTATION (Where Applicable)

2.1. Certificate of Purity
2.2. Commercial Invoice
2.3. Certificate of Ownership
2.4. Packing List
2.5. Certificate of Origin
2.6. All Export documents
2.7. Certificate of Insurance
2.8. Weight List with Serial No., Law, and total weight stamped on each bar
2.9. Tax Clearance including Declaration that the Product is Free from Liens and Encumbrance

3. PROCEDURES
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3.1. Buyer returns to Seller this Agreement (in MS Word File via Email) duly completed in all
respects and signed with Buyer’s Full Banking Co-Ordinates to include:-
1) Color Copy of Passport of the Authorized Signatory
2) Copy of Corporate Registration
3) Irrevocable Master Fee Protection Agreement (IMFPA)

3.2. Seller executes, signs, and initials this Agreement with Seller’s Full Banking Co-Ordinates
including signatory and color copy of Passport and returns this signed Agreement (in PDF File
via Email) to the Buyer. Then, both Buyer and Seller lodge the signed Agreements to their
respective banks.

3.3. Buyer issues the Invitation Letter to the Seller and the Seller accepts the Letter for setting
up the window time (Schedule on date and time at the Buyer’s Bank specified below) for her
Bank officers to verify the POF and commence the transaction.
BUYER’S BANK BANK
ADDRESS ………………………………………………. Indonesia
DATE: ……………………. MAY 2019 TIME: …………… AM – 1………. AM

3.4. On the appointment day during the window time (Date: ………… Time: …………),
3.1.1. As the meeting arranged by the Buyer, at the ……………………Bank, Indonesia, Buyer,
Seller, Buyer/Seller’s Bank Officers, and/or authorized representatives, will work
together for Bank Statement and Proof of Product (POP) verification, and be ready to
perform as per the signed Agreement, Transaction Code: AU ………………

3.1.2. For POF verification and confirmation, Buyer’s Bank Officer provides Seller’s Bank
Officer the cheque for the agreed amount equivalent 90% of Two million and Five
Hundred Thousand with the date of the following day to guarantee the availability of
payment for the minimum agreed 50 KG of Commodity (Minimum POF).

3.1.3. For POP verification and confirmation, (after POF is verified and confirmed), Seller’s
Bank Officer provides Buyer / Buyer’s Bank Officer copies of the latest Warehouse Safe
Keeping Receipt (WSKR) and/or Bank’s Safe Keeping Receipt (SKR) of the Commodity
of no less than the quantity equivalent to the Minimum POF, and any related
documentation or information pertaining to the ownership, title, benefit and interest of
the said POP as well as the legal authority of the Seller to transact and transfer legal title
of ownership of the Commodity.

3.2. After positive verification and acceptance of Buyer’s Cheque/Bank Statement and Seller’s
POP, the Seller shall deliver the First Lift of the Commodity to the Buyer’s designated security
warehouse/refinery the same day: …………. Indonesia for physical
inspection/assaying/smelting. Seller shall also provide the related documents for the First Lift
or Tranche Quantity of Commodity so delivered to Buyer. The Buyer shall then sign for
acknowledgement of the said documents. For the sake of clarity, the Seller shall be responsible
for costs associated with Assayer, Transporter, assaying fee, refining fee, smelting fee,
transportation, documentation and other fees.

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3.3. On the same day the Commodity has been inspected/assayed/smelted at Buyer’s
warehouse/refinery, and after the final results of the inspection/assaying/smelting reports
have been received, which the Parties agree to be the final basis, then Seller will transfer the
full amount to Buyers bank account at cost minus 6.5%. Buyer would need to return the cheque
to Seller, failure to do so, Seller will to transfer the full payment as per agreed.

3.3.1. After the final purchase price has been calculated, confirmed and Invoice issued, with
the Certificate of Acceptance signed by the Buyer, the Seller shall transfer the
ownership of the First Lift or Tranche Quantity of the Commodity so delivered and all
related Documentation to the Buyer, and simultaneously Buyer shall instruct his Bank
officer to release the full payment of the Invoice for the First Lift or Tranche Quantity of
the Commodity into the Seller’s Bank Account. The conclusion of the transaction shall
take place under acknowledgement of Seller’s and Buyer’s Bank Officers, who shall
endorse the document of transferring the ownership.

3.3.2. For the sake of clarity, the Parties agree that the Invoice issued by the Seller is based
on the total quantity of the First Lift of the Commodity, with the Discount applied at
6.5% gross. Buyer will be responsible to transfer to Sellers mandate at 2%.

3.4. On the same day, Seller shall instruct their Bank Officer to immediately transfer consultancy
fee to the designated accounts of consultants and intermediaries as per IMFPA by the
Transaction Code: AU………………2019.

3.5. Further deliveries of size and frequency of lifts or Tranche Quantity to be followed in
accordance with the agreed Schedule of Delivery and pursuant to the procedures as set forth
herein between Buyer and Seller until the Total Quantity is fully exhausted, or thereafter
continued on rolls and extensions until the Parties mutually decide.

3.6. The complete contract Total Quantity shall be completed within 12 months from the date of
the First Lift.

3.7. The Parties agree that after the First Lift under this Agreement has been successfully delivered,
inspected/assayed and paid for by the Buyer, for each Tranche Quantity as agreed under this
Agreement, if not covered by the existing Payment Security, the Buyer shall provide the POF
and Payment Security for such Tranche Quantity to the Seller accordingly prior to the delivery
of the Tranche Quantity to the Buyer’s designated Warehouse/Assayer in accordance with the
agreed procedure herein.

3.8. The Parties further agree that upon the completion of the delivery, acceptance and payment of
the Commodity up to the quantity that corresponds with the Minimum POF, the Buyer shall be
obliged to deliver to the Seller the Minimum POF and corresponding Payment Security for
verification and confirmation prior to continuation of the Tranche Delivery Schedule under this
Agreement, as so rolled over and extended.

3.9. The Parties agree that this transaction under this Transaction Code: AU………………2019 is based
on the commitment of the Buyer to complete the purchase of the Commodity beyond the Total
Quantity so contracted to the minimum quantity rolled and extended of 10MT so as to be
entitled to the Discount and other terms accorded to by the Seller.

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SELLER’S CODE
BUYER’S CODE

3.10. All payments for the Commodity shall be from the same designated bank account of the Buyer
under this Agreement, and not from any other bank account(s). In the event the payments are
to be from the bank account of the provider of the Minimum POF, as declared herein, then the
corresponding supporting documentation from the provider of the Minimum POF to honour
and agree for the utilization of the Minimum POF for the guarantee and payment obligations of
the Buyer, as well as the Payment Security to guarantee the payment obligations, are produced
to the Seller and incorporated into this Agreement

3.11. The Parties agree that this transaction is an “off market – private treaty sale” transaction, and
not to be transacted under the Swiss Procedure or established guidelines under the Patriot Act
or World Gold Council

4. NON-CIRCUMVENT & NON-DISCLOURE

Seller and Buyer accept and agree to the Model Occasional Intermediary Contract of
the International Chamber of Commerce, Paris, France, for non-circumvent and non-disclosure, with
regards to all and every one of the third party assignments with full reciprocation for a period of 2
(two) years from the last performance of delivery.

5. BANKING COORDINATES
Seller’s Banking Detail and Buyer’s Banking Detail, in the attached Appendix A.

6. TIME LIMITATION
It is understood that within 5 banking days after signing of this Agreement (after execution by the
Seller). Should there be any delay in response, this offer will be considered void.

7. OTHER CONDITIONS
7.1. To coordinate between the representatives of the two Parties and to inform the status report
between the Banks of the two Parties, all communications must be presented in writing.

7.2. The Seller’s Bank shall accept Buyer’s POF/Cheque, and be ready to issue the Letter of financial
acceptance as long as Seller’s Bank.
7.4.1. Buyer’s financial verification is proven to exist and to be sufficient to purchase the
Commodity and to have a value corresponding to the Minimum POF or Tranche Quantity,
whichever is greater.

7.4.2. Buyer’s financial verification issued by Buyer’s Bank is proven to follow

the form of financial document provided by Seller in a truthful manner.

7.4.3. All the requirements of 7.4.1 and 7.4.2 need to be met, i.e. none are disqualified during
the transaction.

7.3. Only one Bank Officer of both Parties shall be authorized to be communicating on a bank to
bank basis. If any other persons or third parties happen to contact either Seller’s Bank Officer
or Buyer’s Bank Officer, this Agreement shall be terminated automatically without prior written
notice.

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BUYER’S CODE

8. PENALTY CLAUSE FOR NON-PERFORMANCE

Should any of the Parties herein fail to perform as required by this Agreement, once signed, and after
the Term of Validity thereof had expired, then if the non-defaulting signatory to the Agreement files a
default claim, the failing Party shall indemnify the other Party for an amount of the 2% of the Total
Quantity of the transaction; and one percent of said two 2% percent shall be paid and equally
distributed, to each of the facilitators that made the introduction of the signatories possible. If not,
then the two 2% percent shall be paid to the facilitators only. The facilitators have the right to make
a legal claim for such amount of two 2% percent as it applies, to the total amount contracted, in any
court of jurisdiction against the Party that failed to perform.

9. LAW AND ARBITRATION

This Contract and any disputes arising under it shall be construed and governed by the laws of the
Indonesia Special Administrative Region. Disputes which arise out of or in connection with this
Contract, including the validity, invalidity, breach or termination thereof, shall be referred to
arbitration in Indonesia in accordance with the Arbitration Ordinance (Cap. 609) or any statutory
modification or re-enactment thereof.

10. APPENDIX
The following pages have been added to and are considered by all PARTIES to be an integral part of
this Agreement:

APPENDIX A: Banking Details

APPENDIX B: The Daily Delivery Schedule
APPENDIX C: Seller’s Copy Passport
APPENDIX D: Buyer’s Copy Passport
APPENDIX E: Irrevocable Master Fee Protection Agreement

****THIS SPACE INTENTIONALLY LEFT BLANK****

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All signatories hereto acknowledge that they have read and each Party fully understands the terms
and conditions contained in this Agreement and by their initials and signatures hereby unconditionally
agree to its terms as of the date noted herein.

SIGNATORIES BELOW ARE BOTH PERSONAL AND CORPORATE LIABILITIES.

Seller
Name

Passport No.

Country of Origin

Signature

Seller’s Witness
Name
Passport No.
Country of Origin

Signature

Buyer
Name
Passport No.
Country of Origin

Signature

Buyer’s Witness
Name
Passport No.
Country of Origin

Signature

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 FCO and SALE & PURCHASE AGREEMENT FOR AU METAL
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APPENDIX A
Seller’s Banking Details

Bank Name

Bank Address

Bank Officer

SWIFT Code

Bank Telephone

Bank Fax

Bank Officer Email

Account Name

Account Number

Buyer’s Banking Details

Bank Name

Bank Address

Bank Officer

SWIFT

Bank Telephone

Bank Fax

Bank Officer Email

Account Name

Account No.

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APPENDIX B
THE DAILY DELIVERY SCHEDULE
The Total Quantity of the Agreement shall be equal to 10 Metric Ton (Ten Metric Ton) with rolls and
extensions as per mutual agreement. Any changes hereto must be agreed upon mutually in writing and
lodged with the banks at least three (3) banking days in advance.

PERIOD TOTAL QUANTITY

TRANCHE PER DAY COMPLETED TOTAL
WEEK DAY
(Kilogram) (Kilogram)
1 1 200 200
2 2 200 400
1 3 3 200 600
4 4 200 800
5 5 200 1000
1 6 200 1200
2 7 200 1400
2 3 8 200 1600
4 9 200 1800
5 10 200 2000
1 11 200 2200
2 12 200 2400
3 3 13 200 2600
4 14 200 2800
5 15 200 3000
1 16 200 3200
2 17 200 3400
4 3 18 200 3600
4 19 200 3800
5 20 200 4000
1 21 200 4200
2 22 200 4400
5 3 23 200 4600
4 24 200 4800
5 25 200 5000
1 26 200 5200
2 27 200 5400
6 3 28 200 5600
4 29 200 5800
5 30 200 6000
1 31 200 6200
2 32 200 6400
7 3 33 200 6600
4 34 200 6800
5 35 200 7000
1 36 200 7200
2 37 200 7400
8 3 38 200 7600
4 39 200 7800
5 40 200 8000
1 41 200 8200
9 2 42 200 8400
3 43 200 8600

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4 44 200 8800
5 45 200 9000
1 46 200 9200
2 47 200 9400
10 3 48 200 9600
4 49 200 9800
5 50 200 10000
Total Quantity = 10 MT
WITH ROLLS AND EXTENSION to xxxxx MT

If a delivery day is a national holiday, the delivery is to be executed the next subsequent banking day.
All other terms and conditions will be in accordance with this Agreement.

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APPENDIX C

Seller’s copy of Passport

Seller’s Witness’s copy of Passport

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APPENDIX D

Buyer’s copy of Passport

Buyer’s copy of Company Certificate

Buyer’s Witness’s copy of Passport

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APPENDIX E
IRREVOCABLE MASTER FEE PROTECTION AGREEMENT (IMFPA)

Transaction Code: AU……………..2019

DATE: 12 August 2019

I undersigned …………………………………………………………… holding Passport No: ………………. hereby irrevocably

agree and guarantee to issue this Irrevocable Master Fee Protection Agreement to the herein named Beneficiaries
for Consultant Services rendered in connection with the transaction whose particulars are as follows:

DESCRIPTION OF GOODS
Commodity AU METAL GOLD IN BAR FORM
Size 1 KILOGRAM BAR
Total Quantity 10 MT (TEN METRIC TONS) WITH ROLLS AND EXTENSIONS
Hallmark INTERNATIONAL RECOGNIZED HALLMARK.
Purity 999.5/1000 FINENESS
THE SECOND FIXING LONDON BULLION MARKET ASSOCIATION (LBMA) OF THE
Price
PREVIOUS DAY OF THE DATE OF THE ASSAY REPORT/INSPECTION
6.50% TOTAL GROSS DISCOUNT, 3.50% NET DISCOUNT TO BUYER
1.00% CONSULTANT FEE FOR BUYER SIDE
Discount 2.0% CONSULTANT FEE FOR SELLERS INTERMEDIARIES

Delivery/Location FOB INDONESIA (BUYER’S DESIGNATED LOCATION)

First Lift 50 KG (200 Kilogram)
Subsequent Lifts 200 KG (200 Kilogram, MINIMUM 200 Kilogram PER LIFT)
Tranche Quantity SEE TRANCHE DELIVERY SCHEDULE
Payment BANK TO BANK TRANSFER

I shall pay the herein agreed fees to intermediaries and consultants in USD/EUR in parallel with the settlement of
the price of the AU Metal Gold as below stated to the paymasters nominated by them, for the total value of 3% for
each and every tranche delivered, including rolls and extensions.

PAYMENT ORDER VALUE:

THREE PERCENT (3%) of the full face value of each tranche of the afore-mentioned GOODS shall be payable to the
Beneficiary Paymasters or assigns named or represented herein. Such payment shall be made via Telegraphic
Transfer or via SWIFT Wire Transfer, without protest, delay or deduction and free of any bank charges (except for
normal bank transfer charges), local and national taxes and liens, to the extent legally permissible.

TOTAL CONSULTANT FEE OF 3% OF FACE VALUE IN USD/EURO PAID BY THE SELLER

SELLER’S SIDE: 1.00% CONSULTANT FEES OF FACE VALUE (CLOSED)

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BUYER’S INTERMEDIARIES: 1.00% CONSULTANT FEES OF FACE VALUE (CLOSED)

1.00% (ONE PERCENT) OF TOTAL CONTRACT VALUE INCLUDING ROLLS AND
CONSULTANT FEE
EXTENSIONS
B1-BUYER PAYMASTER
E-MAIL
Bank Name
Bank Address
Account Name
Account Number
SWIFT CODE
Bank Officer Name
Banker’s e-mail
Bank Telephone
Beneficiary:
Special Instructions: CONSULTANT FEES
ALL TRANSFER INSTRUCTIONS SHALL STATE: “FUNDS ARE CLEAN AND CLEAR, OF
Required Message: NON-CRIMINAL ORIGIN, AND ARE IMMEDIATELY PAYABLE IN CASH”

SELLER’S INTERMEDIARIES: 2.00% CONSULTANT FEES OF FACE VALUE (CLOSED)

2.00% (ZERO POINT FIVE PERCENT) OF TOTAL CONTRACT VALUE INCLUDING
CONSULTANT FEE
ROLLS AND EXTENSIONS
A2-SELLER PAYMASTER (CLOSED)
E-MAIL
Bank Name
Bank Address
Account Name
Account Number
SWIFT CODE
Bank Officer Name
Banker’s e-mail
Bank Telephone
Beneficiary:
Special Instructions: CONSULTANT FEES
ALL TRANSFER INSTRUCTIONS SHALL STATE: “FUNDS ARE CLEAN AND CLEAR, OF
Required Message: NON-CRIMINAL ORIGIN, AND ARE IMMEDIATELY PAYABLE IN CASH”

This Agreement/Irrevocable Corporate Payment Order and the payment of commissions herein are subject to
the International Chamber of Commerce “ICC” and the ICC Arbitration Act as adopted by the ICC office in Geneva,
Switzerland, by three arbitrary appointees in accordance with ICC rules.

All NC/ND clauses as prescribed by ICC rules (Latest Edition) shall apply to this Agreement and Payment Order.
This Agreement and Irrevocable Corporate Payment Order is irrevocable, divisible, and unconditional, and may
be assigned only by the beneficiaries named herein. This Agreement and Irrevocable Corporate Payment Order
may be executed in one or more counterparts, each one shall be deemed an original and all together shall
constitute one and the same document.

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A signed Fax or electronically transmitted copy of this document shall be deemed binding on the “Parties” with
the force as the signed original. The Agreement and Irrevocable Corporate Payment Order is valid when
commencement of the above-referenced transaction takes place and shall remain valid and enforceable for the
full terms of the transaction, including any new agreement between the Buyer and Seller and/or their assigns.
The beneficiaries reserve the right to change the bank coordinates stated herein at any time by providing written
request to the Buyer. Upon execution of the Agreement and the Final Agreement and prior to, or simultaneously
with the first transaction, we guarantee that this Master Fee Protection Agreement and Irrevocable Corporate
Payment Order will be lodged with the Buyer’s Bank.
The Buyer’s bank shall provide the beneficiaries, by e-mails or by telex/fax with copies of the swift related to all
payment instructions upon the closing of each and every transaction of the above transaction.
In the event that the transaction was not performed or only performed in part, the paymasters or beneficiaries
listed above shall not hold the undersigned Payer responsible for any expenses, charges and/or cost, or hold the
Payer liable for any civil and criminal actions. The unperformed part of this Irrevocable Master Fee Protection
Agreement will therefore automatically become null and void.

APPROVED AND AGREED

AUTHORIZED SIGNATURE:
NAME :
DESIGNATION :
PASSPORT # :
NATIONALITY :
DATE OF ISSUE :
DATE OF EXPIRY :

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**** End of Agreement ****

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