Page 240 - Energi Persada

Account number: 0290028932

Bank of deposit: BANK BNI
Address: Kantor Cabang MELAWAI

SWIFT code: 009
1.2.5 Performance

1.2.5.1 Within 10 days after the Contract takes effect, Party B shall submit to
Party A the unconditional, irrevocable and on-demand bank guarantee and
advance payment guarantee in favor of Party A from the insurance company. The
amount of advance payment guarantee shall 25% of the contract amount
respectively. The guarantee institution shall assume its guarantee obligations
independently and expressly waive Party B's right of defense under the Contract.
The letter of guarantee shall be acceptable to Party A both in format and essence.

1.2.5.2 The validity of advance payment bond is January 27, 2020 and
performance bond valid within 3 months from the contract signing date (January
2020). Upon expiration of the guarantee submitted by Party B, the letter of
guarantee shall be returned. According to the general contract, Party B shall
extend the validity period of the performance guarantee as instructed by Party A
if the actual delivery date of the last batch of goods is later than the expiry date
of such letter of guarantee.

1.2.5.3 Party B under the Contract shall be solely responsible for the performance
guarantee. In case the Final Acceptance Certificate had been issued，if Party B
fails to fulfill any or all of its obligations under the Contract or is in breach of the
Contract, Party A may issue a notice of claim or default to request Party B to take
remedial measures within 5 days upon receipt of such notice or a longer period
of time as agreed by both parties. If Party B fails to take remedial measures within
the prescribed time, Party A is entitled to deduct the associated amount from the
performance guarantee immediately. If the guarantee amount is insufficient for
compensating all direct and indirect losses of Party A, Party A is entitled to

recover the deficiency from Party B.

1.2.5.4 If Party A deducts certain amount from the performance guarantee
according to the Contract, Party B shall neither delay suspend or terminate the
performance of its responsibilities and obligations under the contract nor delay,
suspend or terminate the ongoing and upcoming work. In the above situation,
Party B shall make compensation to Party A according to the actual loss caused
by the delay in the delivery time/construction period of Party A; in addition, Party