B1 ACCOUNT BANK YUANTA COMMERCIAL BANK CO.LTD.

ACCOUNT NUMBER 1272-28-006089-9

SWIFT CODE APBKTWTH
ADDRESS _______________, TAIPEI 103 TAIWAN R.O.C
40A TYPE OF L/C IRREVOCABLE, NON TRANSFERABLE
31D DATE & PLACE / COUNTRY OF EXPIRY 20180130, INDONESIA
50 NAME & ADDRESS OF THE APPLICANT ACCIVA ENERGY CO., LTD.
___________________ MARKET SQUARE
BELIZE CITY, BELIZE
59 NAME & ADDRESS OF THE BENEFICIARY

32B CURRENCY CODE & AMOUNT (IN FIGURES US $ 2,952,000 (QTY 36,000 MT x USD 82)
& WORDS)
39A PERCENTAGE CREDIT AMOUNT TOLERANCE +/- 10PCT

39C ADDITIONAL AMT. COVERED AT SIGHT

41A CREDIT AVAILABLE WITH BANK ………………………….
CREDIT AVAILABLE BY BY NEGOTIATION
42C DRAFTS AT AT SIGHT
42A DRAWEE L/C ISSUING BANK
43P PARTIAL SHIPMENT PROHIBITED
43T TRANSSHIPMENT PROHIBITED
44E LOAD PORT TABONEO ANCHORAGE, SOUTH Kalimantan, INDONESIA
44F DISCHARGE PORT ANY PORT(S) IN TAIWAN
44C LATEST DATE OF SHIPMENT (YY/MM/DD) 20180109
49 CONFIRMATION MAY ADD
45A DESCRIPTION OF GOODS:
36,000 MT (+/- 10%) INDONESIAN STEAM COAL IN BULKAT THE RATE OF US DOLLAR 82 (US 2,952,000)
PER MT BASIS 6,100 – 6,300 GAR FOBT TABONEO ANCHORAGE, SOUTH Kalimantan, INDONESIA
GUARANTEED SPECIFICATIONS : AS PER ASTM STANDARD
TOTAL MOISTURE (ARB) 10 PCT
INHERENT MOISTURE (ADB) 6 PCT
ASH (ADB) 10 PCT
VOLATILE MATTER (ADB) 42 PCT
FIXED CARBON (ADB) BY DIFFERENCE
TOTAL SULPHUR (ADB) 0.7 PCT
GROSS CALORIFIC VALUE (ARB) 6,300 KCAL/KG
HARDGROVE GRINDABILITY INDEX 45
SIZE (0-50 MM) 95 PCT
ASH FUSION TEMPERATURE (IDT) REDUCING >1,300 DEGREE C

ADJUSMENT CLAUSE: MATERIAL AND DOCUMENTS WILL BE REJECTED BY THE APPLICANT IF ONE OR MORE OF THE
ACTUAL RESULTS IN THE CERTIFICATE OF SAMPLING AND ANALYSIS ISSUED BY MUTUALLY AGREED PT.
GEOSERVICES EXCEEDS THE FOLLOWING PARAMETERS AND REJECTION LIMITS:

TOTAL MOISTURE (ARB) > 12 PCT MAX

INHERENT MOISTURE (ADB) > 8 PCT MAX
ASH CONTENT (ADB) > 13.8 PCT MAX
VOLATILE MATTER (ADB) 26 PCT MIN
TOTAL SULPHUR (ADB) > 0.84 PCT MAX
GROSS CALORIFIC VALUE (ARB) < 6,100 KCAL/KG MIN
HARDGROVE GRINDABILITY INDEX < 39 MIN
SIZE (0-50 MM) 93 PCT MIN
ASH FUSION TEMPERATURE (IDT) REDUCING 1,200 DEGREE C MIN
46A DOCUMENTS REQUIRED:
1 SIGNED COMMERCIAL INVOICE IN 3 (THREE)ORIGINAL AND 3 (THREE) COPIES BASED ON CERTIFICATE OF
WEIGHT ISSUED AT LOADING PORT BY PT. GEOSERVICES AND CERTIFICATE OF SAMPLING AND ANALYSIS
ISSUED BY PT. GEOSERVICES ISSUED AT LOADING PORT, SETTING OUT THE TOTAL QUANTITY OF COAL
SHIPPED, THE BASE PRICE, ALL ADJUSTMENTS AND THE CALCULATIONS IN ACCORDANCE WITH CLAUSE
45A. IN CASE DEMURRAGE CLAIM (AS PER THE LAYTIME CALCULATION SHEET), DEAD FREIGHT AND
DETENTION CLAIM (AS PER THE DEBIT NOTE) APPLICABLE, THE SAME MUST BE DEDUCTED FROM THE
INVOICE VALUE.
2. FULL SET OF 3 (THREE) ORIGINALS AND 3 (THREE) NON-NEGOTIABLE COPIES OF CLEAN ON BOARD
CHARTER PARTY BILLS OF LADING, MADE OUT TO ORDER

FOR LOT1:
QUANTITY: 36,000 MTS +/-10PCT,
DISCHARGE PORT: TO BE INSERT
NOTIFYING xxxxx
AND MARKED
“FREIGHT PAYABLE AS PER CHARTER PARTY”
“NUMBER:xxxxxxx”
“BUYER’S PURCHASING NO. xxxxxxx”

FOR LOT2:
QUANTITY: 36,000 MTS +/-10PCT,
DISCHARGE PORT: TO BE INSERT
NOTIFYING xxxxx
AND MARKED
“FREIGHT PAYABLE AS PER CHARTER PARTY”
“NUMBER:xxxxxxx”
“BUYER’S PURCHASING NO. xxxxxxx”
3. PERFORMANCE BOND FROM SELLER'S BANK IN 1 (ONE) ORIGINAL COPY INDICATING CONTRACT NUMBER
WITH 2% OF L/C VALUE AND VALIDITY OF 30 DAYS OF ISSUING DATE.
4. CERTIFICATE OF SAMPLING AND ANALYSIS INCLUDING ASH AND ULTIMATE ANALYSIS ISSUED BY PT.
GEOSERVICES IN ACCORDANCE WITH ASTM STANDARDS IN 1 (ONE) ORIGINAL AND 3 (THREE) COPIES.
5. CERTIFICATE OF WEIGHT ISSUED BY PT. GEOSERVICES IN 1 (ONE) ORIGINAL AND 3 (THREE) COPIES
6. CERTIFICATE OF DRAFT SURVEYISSUED BY PT. GEOSERVICES IN 1 (ONE) ORIGINAL AND 3 (THREE) COPIES.
7. CERTIFICATE OF HOLD CLEANLINESS ISSUED BY PT. GEOSERVICES IN1 (ONE) ORIGINAL AND 3 (THREE)
COPIES.
8. CERTIFICATE OF ORIGIN ISSUED BY PT. GEOSERVICES IN 1 (ONE) ORIGINAL AND 3 (THREE) COPIES.
9 ONE ORIGINAL CERTIFICATE OF SETTLEMENT OF DEMURRAGE/ DESPATCH AT LOADING PORT SIGNED BY
THE BUYER AND THE SELLER, INDICATE THE DETENTION/ DEMURRAGE/ DEAD FREIGHT/ DESPATCH
VALUE.
47 A OTHER TERMS AND CONDITIONS
1 A DISCREPANCY HANDLING FEE USD60.00 WILL BA ASSESSED ON EACH PRESENTATION OF DOCUMENTS
NOT IN STRICT COMPLIANCE WITH TERMS AND CONDITIONS OF THIS CREDIT. THIS FEE IS FOR THE
ACCOUNT OF THE BENEFICIARY AND MUST BE DEDUCTED FROM THE PROCEEDS WHEN PAYMENT IS
EFFECTED.
2 WHEN PAYMENT EFFECTED WE WILL DEDUCT USD75.00(BEING OUR PAYMENT AOMM. USD50.00 CABLE
CHARGE USD25.00) FROM THE PROCEEDS.
3 INVOICE PRICE AND PRICE ADJUSTMENT
(1.) GROSS CALORIFIC VALUE (GCV) (ARB)
CERTIFIED GCV AS RECEIVED BASIS BETWEEN SELLER’S GUARANTEED CV AND THE CEILING OF GCV
6,000KCAL/KG (INCLUSIVE):
 ADJUSTED PRICE = BASE PRICE X CERTIFIED GCV / GUARANTEED CV

(2.) ASH CONTENT (ADB)

IF THE ACTUAL ASH CONTENT IS ABOVE 14% BUT BELOW > 14%, A PENALTY OF USD0.20 PER MT
FOR EVERY 1% INCREASE WILL BE APPLICABLE, FRACTION PRO RATA.

(3.) TOTAL MOISTURE (ARB)

IF THE TOTAL MOISTURE AS RECEIVED BASIS OF A SHIPMENT OF COAL EXCEEDS 12%, THEN THE
WEIGHT FOR INVOICING SHALL BE ADJUSTED AS FOLLOWS:

INVOICE WEIGHT = BL WEIGHT X (100% - CERTIFIED TM) / (100%-10%)

IF THE TOTAL MOISTURE OF THE COAL IN THE LOAD PORT ANALYSIS IS LOWER THAN 10%, THE BL
WEIGHT WILL BE CONSIDERED AS INVOICE WEIGHT.

(4.) TOTAL SULPHUR (ADB):

IF THE TOTAL SULFUR CONTENT IS ABOVE 0.8% BUT BELOW 0.9%, A PENALTY OF USD 0.55 PER MT
FOR EVERY 0.1% INCREASE WILL BE APPLICABLE, FRACTION PRO RATA.

IF CERTIFICATES ISSUED BY PT. GEOSERVICES AT LOADING PORT REACHES OR EXCEEDS THE REJECTION
VALUE AS STIPULATED IN CLAUSE 45A, THE BUYER HAS THE RIGHT TO REJECT THE CARGO OR ACCEPTS
THE CARGO BUT RESERVES THE RIGHT TO FILE A CLAIM TO THE SELLER FOR ANY LOSS CAUSED. THERE
WILL ALSO BE NO PREMIUM IF ANY ITEM IS FOUND TO BE LOWER THAN GUARANTEED SPECIFICATION.
4 CHARTER PARTY BILL OF LADINGS ARE ALLOWED.
BILL OF LADING SHOWING CHARTER PARTY DATE PRIOR TO L/C ISSUING DATE AND/OR DIFFERENT FROM
BILLS OF LADING DATE IS ACCEPTABLE.
5 THIRD PARTY DOCUMENTS ARE ACCEPTABLE EXCEPT COMMERCIAL INVOICE, DRAFT (BILL OF
EXCHANGE)
6 LETTER OF CREDIT NUMBER TO BE MENTIONED ONLY IN INVOICE AND DRAFT.
7 COMBINED SHIPMENT IS NOT ALLOWED UNDER THIS L/C.
8 BILL OF LADING SPLITTED IN TONNAGE ACCEPTABLE.
9 ALL SPELLING OR TYPOGRAPHICAL ERRORS ACCEPTABLE BUT NOT AFFECTING ANY CHANGES IN
NOMENCLATURE OF THE COMMODITY NAME, QUANTITY, QUALITY AND VALUE.
10 GCV EQUALS TO GROSS CALORIFIC VALUE,
GAR EQUALS TO GROSS CALORIFIC VALUE AS RECEIVED BASIS,
ADB EQUALS TO AIR DRIED BASIS,
ARB EQUALS TO AS RECEIVED BASIS,
MT &MTS EQUALS TO METRIC TONNE
TM EQUALS TO TOTAL MOISTURE
HGI EQUALS TO HARDGROVE GRINDABILITY INDEX
ASH EQUALS TO ASH CONTENT
11 THE WORD PERCENT OR PCT OR PERCENT SYMBOL IN ALL DOCUMENTS ACCEPTABLE FOR NEGOTIATION.
12 ALL DOCUMENTS MUST BE PRESENTED IN ENGLISH LANGUAGE.
13 THE SPECIFICATIONS OF COAL ARE TYPICAL AND THE ACTUAL ANALYSIS RESULTS IN THE CERTIFICATE OF
SAMPLING AND ANALYSIS MAY VARY BUT WITHIN THE REJECTION CLAUSE IN FIELD 45A.
14 DOCUMENTS DATED PRIOR TO THE DATE OF THIS L/C OPENING ARE NOT ACCEPTABLE.
15 CERTIFICATE OF SAMPLING AND ANALYSIS ISSUED BY PT. GEOSERVICES IN THEIR STANDARD FORMAT
SHOWING RESULTS FOR MANY OTHER PARAMETERS ARE ACCEPTABLE.
16 PHOTOCOPY OF CERTIFICATE OF ORIGIN (FORM B) SHOWING CONSIGNEE AS NOTIFY PARTY IS
ACCEPTABLE.
17 COMMERCIAL INVOICE SHOWING DEMURRAGE DEDUCTION OR DESPATCH ADDITION, DEAD FREIGHT
DEDUCTION, BARGE DETENTION BASED ON THE LAYTIME CALCULAITON SHEET ARE ACCEPTABLE BUT
 WITHIN L/C TOLERANCE. THE LAYTIME CACULATION WILL BASED ON THE LOADING RATE 8,000 MT PWWD
SSHINC.
18 NO DOCUMENT OTHER THAN INVOICE AND DRAFT IF ANY TO SHOW UNIT PRICE, VALUE OF GOODS,
TERMS OF PAYMENT, TRADE TERM/INCOTERM, INVOICE NO. AND DATE, CONTRACT NO., NAME OF
ISSUING BANK AND ANY PRESENTING BANK’S REF. NO. OR THEIR STAMP NOR ANY REFERENCE TO THIS
CREDIT.
19 IN CASE QUANTITY SHIPPED IS LESS THAN THE QUANTITY TO BE LOADED AS ADVISED BY MASTER OF THE
VESSEL BASED ON THE STOWAGE PLAN SUBMITTED AS PER FIELD 46A, DEAD FREIGHT MUST BE
CALCULATED AS UNDER AND DEDUCTED FROM INVOICE VALUE CLAIMED BY THE BUYER UNDER THIS L/C
:
(QUANTITY TO BE LOADED AS ADVISED BY MASTER OF THE VESSEL BASED ON STOWAGE PLAN MINUS
QUANTITY ACTUALLY LOADED AS PER BL WEIGHT) MULTIPLIED BY FREIGHT RATE (STATED IN CHARTER
PARTY BETWEEN THE BUYER AND SHIP OWNER) PER METRIC TON.
20 SHOULD THE SELLER FAIL TO LOAD THE GOODS WITHIN THE TIME AS SPECIFIED IN THE CONTRACT ON
BOARD THE VESSEL BOOKED BY THE BUYERS AFTER THE ARRIVAL AT THE PORT OF LOADING, ALL EXPENSES
INCURRED SUCH AS DETENTION, DEAD FREIGHT AND DEMURRAGE, SHALL BE BORNE BY THE SELLER.
21 THERE SHALL BE NO STONE, COKE AND OTHER NON-COAL INGREDIENTS LIKE IRON, WOOD IN THE CARGO
IN ANY AMOUNT WHICH WILL AFFECT THE SPECIFICATIONS OF COAL. OTHERWISE, THE BUYER HAS THE
FULL RIGHT TO LODGE A CLAIM AGAINST THE SELLER FOR ANY OF LOSS OR COST WHILE DISCHARGING IN
CONCERNED WITH EQUIPMENT OR ANY OF LOSS DURING PRODUCTION IN PLANTS. THE SELLER SHALL
GUARANTEE THAT THE COAL IN TRANSIT AND THE UNLOADING PROCESS SHALL NOT BE SPONTANEOUS
COMBUSTION.
71B CHARGES ALL ISSUING BANK CHARGES ARE FOR APPLICANT’S
ACCOUNT AND BENEFICIARY BANK CHARGES ARE FOR
BENEFICAIRY’ACCOUNT
48 PERIOD OF PRESENTATION DOCUMENTS PRESENTED NOT LATER THAN 21DAYS AFTER
BILL OF LADING DATE BUT WITHIN L/C VALIDITY ARE
ACCEPTABLE
57A “ADVISING THROUGH” BANK BANK NAME TO BE INSERT
SWIFT CODE : TO BE INSERT
BANK/ACCOUNT: TO BE INSERT

78 INSTRUCTIONS TO THE PAYING/ACCEPTING/NEGOTIATING BANK.

PLS FORWARD ALL DOCUMENTS TO: 3F, NO.210 SEC.3 CHENGDE ROAD TAIPEI 103 TAIWAN R.O.C IN
ONE LOT BY DHL/COURIER SERVICE. PLS SHOW NET AMOUNT CLAIMED ON COVERING SCHEDULE.
THE AMOUNT OF EACH NEGOTIATION MUST BE ENDORSED ON THE REVERSE OF THIS CREDIT BY THE
NEGOTIATING BANK. ALL REQUIRED DOCUMENTS MUST BE PRESENTED TO THE ISSUING BANK
THROUGH BENEFICIARY’S BANK.