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JAMINAN INDONESIA EXIMBANK
(JAMINAN LEM BAGA PEt!'l BIAYMN EKSPOR INDON ES lA)
N0MOR: |G.7690/lEB'19

PERFORMANCE BANK G UARANTEE

GIVEN BY LEMBAGA PEMBIAYMN EKSPOR INDONESIA
(lN0oNESlA EXIMBANK)

TO (7,
CSTS JOINT OPERATION
]N RESPECT OF A CONTRACT WITH
REFERENCE NUMBER: 1251568 fl.

PERFORMANCE BANK GUARANTEE

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By this deed of Performance Bank Guarantee ("GUARANTEE") made on the 19tt day of July 2019

LEMBAGA PEMBIAYMN EKSPoR INDoNESIA (INDoNESIA EXIMBANK)

Prosperity Tower, Lantai 1, District 8, SCBD Lot 28,
Jl, Jend. Sudirrnan Kav.52-53, Jakarta Selatan, 12190
(.GUAMNTOR')

is firmly bound unlo

CSTS JOINT OPERATION, an incorprated Joint Operation fornted together between (a) PT, Tripatra Engineers
and Constructors, a company registered in lndonesia with number 30.08.1.46.09174 and having its registered office
at lndy Bintaro Jaya Office Park, Gedung A Jl, Boulevard Bintaro Jaya Blok 87lA6, Sektor Vll CBD Bintaio Jaya,
Tangerang Selatan 15224, (b) PT. Tripatra Engineering, a company registered'in lndonesia with 30.08.1.70.09173
and having its registered office at lndy Bintaro Jaya Office Park, Gedung A Jl, Boulevard Bintaro Jaya Blok BllA6,
Sektor Vll CBD Bintaro Jaya, Tangerang Selatan 15224, (c) PT. Chiyoda lnternational lndonesia, a company
registered in lndongsia with number 09,05.1.71.85794 and having its registered office at Sentral Senayan lll, Lt. 15
Unit 315F''dan 315E1 Jl. Asia Afrika No. 8, Kel, Gelora, Kec, Tanah Abang, Jakarta Pusat; (d) PT, Saipem
lndonesia, a company registered in lndonesia with number 09.03,1.42.22750 and having its registered ofiice at
Alamanda Tower 3d Fl., Jl, TB. SimatupangKav 2124, Cilandak Barat, Jakarta Selatan 12430, (e) PT. Suluh Ardhi
Engineering, a company registered in lndonesia.with number 09.03.1.71,55467 and having its registered office at
The Garden Center #7-C2 Ka'*asan Komersial pilandak Jl. Raya Cilandak KKO RT.001 RW.005 Kel, Cilandak
Timur, Kec. Pasar Minggu, Jakarta Selatan, and (f) Chiyoda Corporation, a company registbred in Japan, having its
registered office at 4-&2, Minatomirai, Nishi-ku, Yokohama, Kanagawa, 220-8765, Japan, ('CSTS") with the
purpgse of jointly to execute the contract related to the Onshore LNG Engineering, Procurement and Construction
(EPC) for Tangguh Expansion Prolect for BP Berau Ltd., havlng its registered office at Alamanda Tower 3'd Fl, Jl.
TB. Slmatupang, Kav. 23.24 No. RT. 001 RW. 001, Cilandak Barat, Jakarta Selatan 12430, INDONESIA
(hereinafler refened tq as'CONTMCTOR')
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lndonesia E imbank
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JAMINAN INDONESIA EXIMBANK
(JAMINAN LEM BAGA PEMBIAYAAN EKSPOR INDON ESIA)
NOMOR: lG.7690llEB-19

In the sum not exceedirrg lndonesian Rupiah Eight Billion Six Hundred Four Million Two Hundred Sixty
Seven Thousand Six Hundred Four (Rp. 8.604,267.604,00) ("GUARANTEED SUM') for which payment the
GUAMNTOR hereby binds itself and its successors and assigns and further the GUARANTOR undertakes and
agrees with the CONTRACIOR as hereinafter provided.

WHEREAS:

By a Contract dated February 11rh.2019 having the reference number 1251568 for Electrical, lnstrumentation
and Telecommunication Works for the Train 3 and Process Area and Construction Manpower Supply
related to the Onshore LNG EPC for Tangguh Expansion Project and based on Letter with SubJect: Reply to
"Request to Confirmation Letter Apprcva! of the CSTS Jcint Operation regarCing the period of the
Performance Bond & Advance Payment Bond No, TEP-CTR-I251568-LET-0028 dated;rn.27ttt,2019
('CONTRACT') between PT. SYAMSIR KARYA PERTAMA having its address at Gedung Ganeca Blok. D, Ji.
Raya Pasar Minggu No 234, Duren Tiga, Pancoran -
Jakarta 12760 ('SUBCONTMCT0R") and the
CONIMCTOR, the SUBCONTMCIOR undertook to execute and complete cerlain works described in the
CONTRACT, as such works may be amended or varied from time io time in accordance with the CONTMCT.

NOW THEREFORE THIS DEED WITNESSES as follows:

'1, The GUAMNTOR inevocably and unconditionally undertakes to pay the CONTRACTOR immediately
upon receipt of the firsi wriiten ciemanci signed by the authorized officer(s) of the CONTRACTOR ancj
mentioning therein this GUAMNTEE Number which states that, the SUBCONTMCTOR has failed to
comply with the CONTMCT and stating the nature of the breach, despite the SUBCONTMCTOR has
haan
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heen nranlcrl lU\.rJvr.gvrv
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accordance with the CONTMCT, such sum or sums which the CONTMCTOR may demand provided
that the GUAMNTOR's maximui'n aggregate liability under this GUAMNTEE shall not excedd the
GUAMNTEED SUh4, noiurithstanding any contestation made by. the SUBCONTMCTOR or the
CONTMCTOR.
Any payment based on partial drawings of this GUARANTEE shall reduce the obligation of the
GUAMNT0R hereunder.
2. Anf demand made in accordance with CIause 1 shall be accepted as conclusive evidence that the amount
, claimed is due to the CONTMCTOR under this GUAMNIEE.
3. The CONTMCTOR may enforce this GUAMNTEE without taking any proceedings against the
SUBCONTMCTOR.
4, This GUAMNTEE shall come into etfect as of the EFFECTIVE DATE which is on July 15h, 2019 and
remain in force (regardless of the liquidation or any change in shareholding or control of the
SUBCONTRACTOR) until the earliestof the following dates occurs ('EXPIRY DATE"):
(D the date on which the GUAMNTOR receives a CONTMCTOR's written acknowledgement stating
that all such liabilities and obligations under the CONIMCT have been discharged in.full, or
(ii) the date on which the aggregate payment of the GUAMNIEED SUM is completely made by the
GUAMNTOR to the CONIMCTOR pursuant to the CONTMCTOR 's demands under this
GUAMNTEE, OT

(iii) on December 31'1,2023,

 tndonesia
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t imbank f"::l@{to!
JAMINAN INDONESIA EXIMBANK
(JAMINAN LEMBAGA PEMBIAYMN EKSPOR INDONESIA)
NoMOR: |G.7690/lEB-19

After the EXPIRY DATE this GUAMNTEE shall become null and void whether reiurned or not to the
GUAMNIOR for cancellation.
5. Funds under this GUAMNTEE shall be available to the CONTMCTOR at the GUAMNTOR's o{fice upon
presentallon of the CONTRACTOP.'s written demand under Clause 1, A.ny ciaim made by the
. CONTMCTOR under this GUAMNTEE must be submitted lo the GUAMNTOR at the GUAMNTOR's
office as indicated above, on or before the EXPIRY DATE.
All oayments bv the GUAMNTOR under this GUAMNTEE shall be made in lndonesian Rupiah bnd in
immediately available and freely transferable funds and shall be free and clear of all present or future
{,' taxes, levies, duties, setoff, charges, imposts, fees, deductions or withholdings of any kind.
t'(
Ihe GUAMNTOR hereby releases all rights and/orprivileges to require the confiscation and sale of the
SUBCONTMCTCIi 's assets or properties prior to the r,risbursement of funds to CONTMCTOR under
this GUARANTEE.
The GUAMNTOR acknowledges and agrees wiih the CONTMCTOR as follows:
8.1 i'leilher the giving of this GIJARANTEE nor anyihing herein shali be read as iimiting or afiecting
the rights and obligations of the CONTMC iOR and the SUBCONTMCTOR iirder the
CONIRACT.
8.2 licthing in this GUAMNTEE shallbe construed as meaning or implying:
82.1 ihat the GUAMNTOR is required or entitled before honouring any demand under this
GUAMNTEE to require the CONTMCTOR to justify its opinion as statod in any
demand or anv sum or sums demanded or to enquire into the terms and con,litions of
rhe CONTRACT or the SUBCONTRACTOR's performance or non-performance thereof
or the merits or demerits of any claim oi' dispute between the SUBCONTMC i-OR and
theCoNTRACToRunderorinconnectionwiththecoNTRACT;
B.?-.2 ihat by virtue of any claim or dispute between. the SUBCONTRACIOR and the
OONIMCTOR or for"any other reason [he SUBCONTMCTOR is or may be errtitled, as
against either the GUAMNTOR or the CONTMCTOR or both of them, to call into
question or seek to restrain or postpone the honouring by the GUAMNTOR of any

,., demand or ihat the CONTMCTOR is obliged to notlfy the SUBCONTMCTOR, either
before or afterwards, of the presentation of any such demand; or
8,2.3 that CONTMCTOR is or shall be obliged, before presenting any demand to take any
action or obtain any judgement or award against the SUBCONTRACTOR in any court or
arbltration proceeding, or to make or file any claim in any liquidation of the
SUBCONTMCTOR,'or to exercise any diligence or any powers or rights which the
CONTMCTOR may have against the SUBCONTMCTOR under the CONTMCT,
The GUAMNTOR's obligations and liabiiities under this GUAMi'|TEE shall remain in fuiiforce and effecl
and shall not be discharged, released, reduced or affected in any way by reason of any of the followings:
9.1 the insolvency, bankruptcy, winding up, dissolution, administration, incapacity, amalgamation,
reconstruction, re-organisation or any analogous proceedlng relating to the SUBCONTM.CTOR or
any change in the status, function, control or oumerchip of the SUBCONTMCTOR;
9,2 any variation to or amendment of the CONTMCI (including, without limitation, extension of time
lor performance, or any concession or waiver by the CONTMCTOR) so that references to the
CONTMCT !n this GUAMNTEE shall include each such variation or amendment;
.
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JAMTNAN tNDoruEStAEXIMBANK i ,, .\
(JAMTNAN LEMBAGA pEMBlAyAAr,t
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NOMOR:IG/690,1E8..,9
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any reason,.,tnatscever; ccabre hr I i
any faiiure cl supei.vision or detection or orp.",cnr;^^ nt aa,, )^.^.,, ,
of any default of the ,, .t 1,"
suBCoNTMcroR
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under or in co,rnecticn with
the
any additronal or advance payrnent
coNrR]^;T:rei'enticn l' j
' COI.IIRACI;
to rhe suEcoNTRqcTOR
uncer or in connection rvith
the ft )

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under the ccilTRACT fcr
any induig:nce'
any reason
ferbe
whatsoevel;
arance or waiver of any right
, - v,rcrr ur rr)e buuuuN lrTACTOR
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of aclion or reniedy of the
coNTRACToR rf (
:::l:J:::[:fft'*cioR or nesiigence nv tiu corvr:oniro*
in'enrorcins sucn;i righr
e 8 cf tLry drspuie with the
'[, ]i
,ila:ilii* '.uBCoNTRACTCR ar-isine. out cf cr. in conne.rron ,,vjth lt,., iI
e e 1,.
ill;ffi:;Tl;5:.]::::."j ;
but for this ciause nright oper;:te ,:,:1'::llLcsior
or provision of stair;ie
to discnarge, rn"pair or otherwise
or raw or othen+rise
rr..ill,'r*.ii^::.il;.*rJ
which i1 r
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8fiiiiJi5Jffil |;,1;'ffi1'l;;ll ''il"i''ni', ,,-",1,
i[lai'onq nf rho Al:AD^rrY^n
o,ooies conrerred on ,r.. (
L
obiigations '+rhich rnay have
been assrmed by ihe GUAMNTOR
lditioneir toany |[ ]
tcwaros the CoNTRACTOR
under the ilri' )
.TT,il[?,,:[i?,_i2+ffi:::T,,#:l,Ij:1;fu;.8;,wrth th; cor,rrucr any other V 5
c.NTMcT or coNTMcr oerrieei ri,e
11' Save as cjefined herein' capitalised corJT*croR and
or

'il1;;;llri;^:YllTil.hil1 i ''n" f
t2 terms shatJ bear the ,uun,ng,
alrocated to them ,n
;Lt,.. ) in. ton,r*^ar.
,:::,:Jjp[il;i",i*X*:":1":y,.,,i,:;i-,n L.o,ounce wth the raws or Repubric
;;;#;i,ffi [.",[; J1[:[Ti;Ti#
or I :]]
If:,?}il: H*f:: ii y^:Ti' :'::^* ::,i,J I,,
ffill';:ff
llrl l.{/trAtEoo ...u
cc puoicaro; N; ;;
;:fffiiil"l,j?",.r*on
has caused this GUAMNTEE
";:;;;IJJ::#;:TTl,:Xi;:liff h,
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liriffi::#i,TLn,Gnij*'ToR to be executed as ns deed

the
on
F *j
SIGNED as a deed by July
1gh, 2019 in Jakarta,

Lembaga Pembiavaan *.Jol

tndonesia (tndonesia Eximbank)
Guarantee and lniurance division n[,
I

SalomiAdriana
Head of Division