The Manager, Date: _____________

Bank AL Habib Limited

D Ground Branch,
Faisalabad.

SUBJECT: UNDERTAKING / CONFIRMATION-CUM-INDEMNITY FOR IMPORTS UNDER LC / Collection / Open Account / Import Advance
Payment

Dear Sir,
Subject: Undertaking-cum-Indemnity on account of LC / Collection / Open Account / Import Advance Payment for USD 23,520/-
(amount) favouring Shandong Lanbo Fitness Equipment Co.,ltd.
We enclose herewith above request for issuance LC / / Collection / Open Account / Import Advance Payment handling and payment of
document(s) and hereby undertake and confirm that:

1. The merchandise being imported falls under HS Code Number(s): 95069100, is freely importable as per State Bank of Pakistan FE
Circular No. 31, dated Feb 20, 1991 and is not subject to import license / does not contravene any of the provision of the State Bank of
Pakistan directives in Foreign Exchange Manual, Import and Export Act 1950 and the trade policy in force and where required we have
obtained necessary authorization from Ministry of Commerce/Trade Development Authority of Pakistan or from any other relevant
Government Department which we enclose herewith in Original (if needed).

2. We hold valid import registration (GST Certificate) and membership of a recognized trade association. (For commercial Importers only)

OR
We are registered as an Industrial Unit with Trade Development Authority of Pakistan and the merchandise being imported is solely for
use in our factory for manufacture. (For industrial users only)
3. We hereby confirm that we are manufacturing & industrial users/ commercial importers and that the nature and usage of the goods
being imported by us to meet the definition of raw materials / spare parts as provided by SBP which will only be used as input by the
manufacturing / industrial concerns.

In case of LC, we are aware that Bank charges of your foreign correspondents as per Article 37 (c) of the Uniform Customs and Practice
for Documentary Credit 2007 Revision ICC Publication No. 600 which cannot be collected from the beneficiary or could not be deducted
from the proceeds can be debited to our account even if the Letter of Credit states that bank charges are on beneficiary’s account.
Please debit our account if your correspondents claim these charges.

5. The payment against the import is genuine and no duplicate payment for the same set of import documents has previously been
effected from your Bank or any other Bank and that payment will be made within 180 days from GD Filling date.

6. The contract price of the imported goods is in line with the International market price.

7. Origin of the goods we propose to import, port of loading of goods (GUANGZHOU, CHINA) and the port of discharge are matching /
not conflicting with the information as mentioned in the LC Application / Beneficiary’s Proforma Invoice / Bill of Lading / Shipping
Documents / Airway Bill.
8. We are familiar with the list of sanctioned countries / ports / entities as issued by global regulatory authorities. We are aware that
engaging in commercial trade transactions or dealing in any manner either directly or indirectly with such sanctioned countries and / or
entities is strictly prohibited and that neither we or any of our agent(s) will engage in, or be a party to, any commercial
transaction/commercial / shipment relating to any manner with any sanctioned country / entity.

9. Our foreign supplier (seller / exporter) is a bonafide exporter and in terms of our agreement / arrangement with the supplier, we have
been assured that they are well aware of the local as well as international regulations regarding sanctioned ports of shipment,
sanctioned vessels, their operators & owners, charterers, freight forwarders or their agents, sanctioned/banned goods and sanctioned
countries. They have also assured us of their understanding that the imported goods will not be/have not been shipped through any
shipping company, vessel owners, masters, charterers, freight forwarders or any entity indicated on the bill of lading /any other
transport document or their agents which itself is sanctioned or any shipping company which operates under the flag of any sanctioned
country directly or indirectly in any manner and will not/has not transited through any sanctioned/banned port/country. We and our
foreign supplier (seller / exporter) understand that any violation may attract refusal of payment against the import commitments. You
may at your sole discretion add an appropriate clause to this effect in your LC as you deem fit & necessary.

We authorize you to debit our account with all commission / charges and any dues to meet our obligations relating to our
aforementioned Import transaction.

11. We confirm that all the above documents/details provided by us to you in respect of this transaction are genuine and correct and we
do hereby indemnify the bank, its Executives, Managers, Officers, Employees and its successors-in-interest and hold them
harmless against any loss, damages, claims, expenses and costs which the bank may suffer or incur as a result of execution of subject
transaction(s).

We hereby irrevocably and unconditionally agree and undertake to pay/repatriate to you, without any proof and notwithstanding any
contestation or objection of any kind whatsoever on our part or any third party, within three days of your demand, any amount that you
may at any time require, for meeting our liability hereunder.

13. This undertaking-cum-indemnity shall be subject to and governed by the laws and regulations of the Islamic Republic of Pakistan and
any dispute or controversy which may arise under this indemnity shall be subject to the jurisdiction of the courts in Pakistan as may be
deemed fit and appropriate by you at your sole and absolute discretion.

Thanking you.
Yours sincerely,
Authorised Signature(s)

Company’s Seal / Rubber Stamp