Party A: Jade Machinery (Pvt) Ltd Party B: SIG Metal Company (Pvt) Ltd. This agreement is signed on the date of December 9, 2020 by both Party A and Party B. Whereas Party B is desirous of Renting ONE (1) Zoomlion made Excavators (Hereinafter) called the “EQUIPMENT” with Jackhammer for executing the works under his project. And where as the Party A agrees to provide the same Equipment in good working condition for Party B, now therefore both parties have agreed the terms and conditions as follows, 1- Agreem: uses. Working Place: Shigar, Skardu, Gilgit Baltistan. ‘The Rental Period will be Six (6) month unless Party B or Party A gives One (1) Month of termination notice in advance, the agreement may be renewable upon expiration of the Agreement under the same terms and conditions set up here in by party’s mutual understanding. 13 Particulars of the Equipment and rental rates/ charges are as follows: Equipment Model Qty | Brand Monthly Rent. a Excavator | ZE230E, 1] Zoomlion PKR 470,000 1.3(A) — Rental quotation exclude any tax or duty, all the taxed and duties shall be paid by the Party B. 1,3(B) - Rental time will be 8 hours per working day and 26 days per month. Exceeding 208 working hours will be calculated as over working time and charged accordingly. If less than 208 working hours, the rent will still be calculated based on the 208 working hours. 2. Settlement & Payment Terms 2.1- Advance payment: after signing of this agreement by the both parties, Party B will issue the Party Aa cheque equaling full month Rent as Security which will not be cashed and will be adjusted’ refunded at the end ‘of contact.For each month, payment will be due on the Ist of every month, Party B will make the payment latest by 0S" of every month through cash or cheque as mutually decided. At the end of Agreement, the remaining balance shall be settled between the Party A and Party B. If payment is not made by 05" of any month, Party A will stop equipment operation and has right to bring the machine back till payment is made and Party A will not be responsible for any consequential loss. Charges for any non-operational days due to not payment will be on Party B account 2. Party B’s Obligations. 3.1- Party B shall make the payment according the aforesaid clauses. Party B will designate one representative to coordinate with Party A at working site to avoid any kind of confusion and mistakes, 3.2- Party B will ensure the Working / parking place is safe enough and risk free for the Party A’s Equipment. 3.3+ Party B will be the responsible of Party A’s personnel’s accommodation & Food. 3.4- During the operation, Party B should ensure enough and good quality fuel supply to avoid any damages to fuel pump system, 3.5 ~ Party B will pay for transportation to jobsite and at the end of contract Party A will pay for transportation cost out of the jobsite. If working period less than 3 Months, Party; B: will be responsible for the freight of return back the Equipment. 4 - Party A’s Obligations. 4.1- Party A shall provide the Equipment in good working conditions, experienced personnel and enough spare parts for the Equipment 4.2. The Party A shall be responsible for all Periodical, Preventive and Routine maintenance at his own cost. 5- Others. 5.1- If any malfunction happens to the Equipment during working time, Party A shall repair/temove them oan in minimum possible time after being informed by Party B. For any repairing over two days due to. "= quality reasons, the real rent during repairing period will be deducted from the third day and the Party A should change the excavator at the request of Party B.B shalll be solely and exclusively responsible for their custody. 53 Any dispute between two parties shall be settled by amicable discussions and negotiation. 5.4- The agreement shall come into force after signing by both parties, 5.5- This agreement may be terminated by the one-month notice in written either by the Party A or Party B. 5.6- If the parties fail to resolve the dispute through negotiations, either party may refer the dispute to the Pakistani Court of Law. The arbitral award is final and binding on both parties unless otherwise provided in the arbitration award, arbitration costs and reasonable attorney’s fees shall be borne by the losing party and in any case the place of Arbitration will be Lahore. Equipment Information Manufacturer Zoomlion Model ZE230E; Weight 22800kg; Bucket Capacity: 1.1°s Engine Power 133Kw IN WHITNESSETH WHEREOF THIS AGREEMENT IS SIGNED AND COMES INTO EFFECT ON THE DAY OF SIGNATURE BY THE DULY AUTHORIZED REPRESENTATIVE OF EACH OF THE PARTIES HERETO ON THE DATE FIRST WRITTEN ABOVE. For & Behalf of, For & Behalf of, SIG Metal Ltd. Jade i (Pvt) Ltd Jeg) yy) 22 \ A 2 Name; ASIZ J Ave? a 5 Date: ~LYlla Bape 3 3520) - YSFBSIF-|