10th November 2021

INDEMNITY BOND FOR THE PURCHASE OF20 INCHES HOSE BETWEE BUYER
AND SELLER

I furtherance to our earlier conversations on the above subject matter, and for dynamic efficiency
and case of management, we hereby acquiesce as follows

i. That the total volume required by buyer shall be 74 units ( Seventy Four units )
ii. That the price per 20 inches hose shall be N1,700,000 ( One Million Seven Hundred
Thousand Naira only ) less N100,000 ( One Hundred Thousand Naira ) for facilitators
commission per 20 inches hose.
iii. That the N100,000 ( One Hundred Thousand Naira ) agents commission shall be
divided into different parts between the Seller’s side and the Buyer’s side according
to the payment schedule.
iv. That upon successful inspection, the Buyer shall immediately effect payment to the
seller and the agents respectively, according to their banking details, by wire transfer
v. That if the Buyer defaults in making payment within the hours of inspection at the
dump sites, he ( The BUYER ) shall be liable to pay a fine of N 20,000,000 ( Twenty
million Naira ) to the aggrieved parties which shall be N10,000,000 ( Ten million
Naira ) to the seller, and N10,000,000 ( Ten million Naira ) to the agents.
vi. In the same vane, if the Seller defaults in presenting said product to the Buyer on the
schedule day of Inspection, he ( The SELLER ) shall be liable to pay a fine of N
20,000,000 ( Twenty million Naira ) to the aggrieved parties which shall be
N10,000,000 ( Ten million Naira ) to the Buyer, and N10,000,000 ( Ten million
Naira ) to the agents.
vii. That this letter of indemnity, whether notarized or not shall be binding on all parties.

Yours Sincerely

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Name: -------------------------------------
For: ---------------------------------------
MD/CEO

BUYER

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Name: ------------------------------------------------

For: ---------------------------------------
MD/CEO

WITNESS:

1) ---------------------------------------- {Sign & Date}

Name: ---------------------------------

2) ---------------------------------------- { Sign & Date }

Name : --------------------------------