MEMORANDUM OF AGREEMENT
between
PT ENERGI BUMI RESOURCES
and
PARTNER
for
PARTNERSHIP ON PROVIDING BANK GUARANTEE FOR
THE RENEWABLE ENERGY (R.E.) TECHNOLOGY PROJECT IN INDONESIA
Number: …/EBR/BG/ALGAE/III/2024
1. Parties
This Memorandum of Agreement (hereinafter referred to as “MOA”) is made and entered
into by and between PT ENERGI BUMI RESOURCES (hereinafter referred to as “EBR”),
whose address is Talavera Office Park 28th Fl, Jl. TB Simatupang Kav. 22-26, Jakarta 12430,
Indonesia, and PARTNER (hereinafter referred to as “PARTNER”), whose address is …..
2. Background
i. EBR is the Project Owner of The Renewable Energy (R.E.) Technology Project
in Indonesia, cooperation with MYKO GLOBAL SDN BHD (MYKO), a
Malaysian registered company. EBR shall have a role as Farmer and MYKO as
Developer and Operator in the Contract Farming Agreement;
ii. PARTNER is willing and able to provide a Bank Guarantee with face amount of
USD 3,000,000 (United States Dollar Three Million) for EBR’s Project.
3. Purpose
The purpose of this MOA is to record a mutual desire and agreement to cooperate between
parties for the purpose of the Renewable Energy (R.E.) Technology Project in Indonesia
(hereinafter referred to as “Project”) as Farmer of the Contract Farming Agreement (CFA) to
provide a Bank Guarantee as the participation of EBR in the Project.
4. Rights and Responsibilities
i. PARTNER shall provide a RWA (Ready Willing and Able) letter from its bank as
standard format as in Exhibit A, bank-to-bank communication basis;
ii. PARTNER shall provide a Bank Guarantee under the name of EBR as the Applicant
to MYKO as the Beneficiary with KYC stated in the Exhibit B with total amount of
USD 3,000,000 (United States Dollar Three Million) and shall be expired in 24
months after issuing date;
iii. EBR shall replace issuing Bank Guarantee with other Bank Guarantee or repay as
Bank Guarantee’s face amount to PARTNER before that Bank Guarantee is claimed
on the months-18 after issuing;
Memorandum Of Agreement
PT Energi Bumi Resources and PARTNER
Page: 1
iv. EBR shall share the CAO (Crude Algae Oil), the product of the Project as the Annual
Guaranteed Product Sharing (fix amount) with total amount 2,500 (two thousand
five hundred) metric tonnes per annum for 15 (fifteen) years consecutively, starting
from the end of 2nd year from the commencement date of the Project. These shares
have been included the repayment.
v. The timeline of this Project and sharing schedule shall refer to the Algae Project
Schedule as in Exhibit C;
vi. The price of CAO shall refer to the price of the soybean oil at the Chicago
Mercantile Exchange discounted 10% (ten percent);
vii. The costs incured to issue RWA and Bank Guarantee shall be borne by PARTNER;
5. Terms of MOA
a) This MOA is effective upon the day and date last signed and executed by the duly
authorized representatives of the parties to this MOA;
b) Either party may request changes to this MOA. Any changes, modifications,
revisions or amendments to this MOA which are mutually agreed upon by and
between the parties to this MOA shall be incorporated by written instrument, and
effective when executed and signed by all parties to this MOA;
c) This MOA shall come into effect from this date and effective for 1 (one) month,
unless any notification for termination or extension;
d) This MOA may be terminated, without cause, by either party upon 30 (thirty) days
written notice;
6. Confidentiality
Unless otherwise decided by the Parties, each Party should, to the fullest extent possible
and consistent with Indonesia’s laws, use its best efforts to maintain the confidentiality of
any information and data generated between them, and of any information and data
communicated and exchanged between them. The Parties may disclose the information
and data exchanged between them.
Nothing in this Memorandum prevents disclosure to third parties if such disclosure is
required by the Indonesian law of the Requesting Participant. The Requesting Participant
should use its best efforts to notify the Requested Participant at least ten days in advance
of any such proposed disclosure, or, if such notice cannot be given, then as promptly as
possible. This confidentiality obligation shall remain in effect for a period of 1 full year
following a termination of this MOA.
7. Assurance of Cooperation
The Parties agree to jointly cooperate with each other in good faith in the development this
MOA.
8. Notice
Any notice to be given hereunder shall be in writing to the Parties at the following addresses
or at the addresses subsequently notified in writing by the Parties:
Memorandum Of Agreement
PT Energi Bumi Resources and PARTNER
Page: 2
PT ENERGI BUMI RESOURCES
Talavera Office Park 28th Fl
Jl. TB Simatupang Kav. 22-26, Jakarta 12430, Indonesia
Mobile: +62 811 899 3711 / +62 812 755 4400
Email: [email protected]
Attn. Mr. Erham / Director
PARTNER
……
Mobile: +
Email:
9. Signatures.
In witness whereof, the parties to this MOA through their duly authorized representatives
have executed this MOA on the days and dates set out below, and certify that they have
read, understood, and agreed to the terms and conditions of this MOA as set forth herein.
Jakarta, .. March 2024
PT ENERGI BUMI RESOURCES
ERHAM PARTNER
Director
Memorandum Of Agreement
PT Energi Bumi Resources and PARTNER
Page: 3
EXHIBIT A
RWA STANDARD FORMAT
Memorandum Of Agreement
PT Energi Bumi Resources and PARTNER
Page: 4
EXHIBIT B
KYC of MYKO GLOBAL SDN BHD
Memorandum Of Agreement
PT Energi Bumi Resources and PARTNER
Page: 5
EXHIBIT C
ALGAE PROJECT SCHEDULE
Memorandum Of Agreement
PT Energi Bumi Resources and PARTNER
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