ON BUYER LETTER HEADS

……., June 2020

To :
Attn : Mr.
Via : Mr. Edy Gunawan

LETTER OF INTENT

We, …………….., confirm with full corporate responsibility, that we are ready, willing and able to
enter into Sale and Purchase contract of the following commodity.

1. COMMODITY:
Uncrushed Indonesia Steam Non-coking coal in Bulk

2. ORIGIN:
Indonesia

3. LOADING PORT:
Jambi/Bengkulu/South or East Kalimantan, Indonesia

4. QUANTITY PERSHIPMENT:
,000 (+/-10%) MT, buyers’ / vessel’s option.

5. QUALITY: ASTM Standards/Air Dry Basis

Total Moisture (ARB) % max, reject above %

Inherent moisture % approx.
Ash % max, reject above %
Volatile Matter % approx
Sulphur 0.2 % max. reject above 0.4%
Gross Calorific value (ADB) 5,500Kcal/Kg, reject below 5400 Kcal/Kg
HGI 55 Approx
Size (0-50 mm)

6. PRICE:
US$ ./ MT FOB BARGE basis GCV 5500Kcal/Kg(adb) and % total moisture (adb).

7. DELIVERY:
…………2020

8. LOADING TERMS
Sellers guarantee a loading rate of 5 (Five) Days prorate at loading port

9. SAMPLING AND ANALYSIS:

Sampling and analysis to be effected at loading port by PT. .............., or another an
independent surveyor company to be mutually agreed whose results will be final and
binding for both parties and basis for invoicing. Cost for Seller’s account.
10. WEIGHT DETERMINATION:
Weight will be determined at the loading port by means of draft survey of the vessel/barges
by PT. ............, or by another an independent marine surveyor to be mutually agreed.
Results will be final and binding for both parties and basis for invoicing. Cost for Seller’s
account.

11. PREMIUM AND PENALTIES:

If the Calorific Value is above or below 5500 kcal/kg (adb), the price shall be adjusted
according to the following formula:

Base price X (Actual CV (adb) / 5500 (adb) )

If Total Moisture exceeds ..... % the quantity to be invoiced shall be adjusted according to
the following formula:

B/L Weight X [100-(Actual TM - .....%) /100] = invoice weight

12. PAYMENT:
By 100% irrevocable L/C payable at sight issue by an International First Class bank
acceptable to Seller’s bank.

13. VALIDITY:
Subject to prior buy

14. OTHERS:
Any agreement resulting from this proposal will become final and binding only when
executed by authorized individuals of both parties.

Best Regards,

President Director