Standard Trading Conditions (STC)

1. Quotations :

• All quotations are based on the present market conditions, laws and regulations and are subject to change.
• All quotations are expressed in the US $ currency unless expressed otherwise and are subject to the prevailing buying rates of exchange published by BNI or our house bankers Permata Bank .
• All quotations are without engagement until firm conclusion of the business transaction and their validity is maximum 3 weeks after date of issue, unless specified, and otherwise agreed in writing.
• All quotations in excess of 3 months and or US $ 50,000.00 require a minimum of 2 authorized signatures from PT. Nature.

2. Trading :

• All trading is done based on common international commercial laws. However would the latter conflict with the laws and regulations of the Republic of Indonesia, the latter shall prevail unless it is otherwise specified.
• All domestic trading is subject to the prevailing tax regime, currently sales tax is 10%.
• An order confirmation is complete when a down payment of 50% has arrived into the bank account of PT. Nature. All other payments shall be settled prior to shipping or in case of letter of credit at sight, i.e against negotiation of documents in our bank.
• All payments are due immediately, upon presentation of the invoice unless it is specified otherwise, net of any and bank charges.
• All merchandise purchased form PT. Nature and leaving the compound of PT. Nature or its loading address given to buyers is not insured unless it specified otherwise and shall be insured only against written confirmation or instruction of buyers and a fee shall imply immediate cancellation of insurance cover. It is understanding of PT. Nature that buyers insure basis their purchase n a door to door basis, covered against all risks including war, riots, civil commotion and unrest.
• Willing delays initiated by buyers, so called push backs, are not acceptable unless prior agreement has been obtained. The agreed delay shall not exceed the standard transportation time from port to port.
• All sample requests shall be dispatched at cost agreed prior to sending.

3. Risk and retention of tittle :

• All merchandise supplied by PT. Nature is at risk of the buyer once loaded at the gate of the compound of PT. Nature.
• PT. Nature remains the legal owner of all merchandise until PT. Nature has been paid in full for all merchandise loaded at the compound of PT. Nature to be sent to the buyer.
• The buyer must store all merchandise supplied by PT. Nature separately from all other merchandise owned by the buyer or a third party and must clearly identify all such merchandise as the property of PT. Nature.
• The buyer is nevertheless permitted to sell merchandise supplied by PT. Nature, but which has not yet been paid for in the ordinary course of its business, for full market value, on open market, arms length terms and conditions.
• If the buyer sells any merchandise supplied by PT. Nature, but which have not yet been paid for, the buyer receives the proceeds of sale as agent for PT. Nature and must account to PT. Nature for such proceeds of sale, to the extent of PT. Nature's selling price for such merchandise.

4. Guarantees :

• All trading and transactions done by PT. Nature are not guaranteed unless otherwise agreed.
• In case guarantees have been supplied in writing , claims must be reported to PT. Nature within 7 days after the arrival at the destination. The destination is specified in the bill of lading as port of destination or any other international transportation document agreed with in the letter of credit or mutual written consent between both trading partners in absence of the letter. Replacement of goods shall be done by means of free replacement in the next order. Consequential damage, third party claims and or financial refunds are not covered in any agreement.
• Loading and stowing of merchandise in containers is generally performed by third parties at the sole risk of the buyer.
• Domestic transportation required and instructed by buyers is performed solely by third parties and is done at the buyer's own risk and expense unless otherwise agreed.
• The quality of packing and material must be instructed by buyers and have mutual agreement between buyer and PT. Nature. As otherwise standard packing and prevailing packing conditions and material shall b e applied.

5. Child Labour

Unfortunately child labor is still a common phenomenon in Asia, and Indonesia is no exception, particularly the islands east of Java. We assume here on child labor as a means of economic cost reduction, whereas the children are actually still obliged to attend formal schooling. I.e the child does not attend schooling or training and has most of the time been 'sold' or put out on hire to producers.

• PT. Nature does not support or condone child labor in any way and does not employ anybody below the age of 18 years. Spot checks on subcontractors are done regularly and awareness of child labor is pointed out immediately. It is a general understanding with the subcontractor that if child labor persists, existing contracts and or others will be cancelled within the time allowed as per agreement, most commonly immediately but with a maximum of 4 weeks.

PT. Nasib Tugas Rencana (PT. Nature)
Denpasar, January 2000

Bali