SOUTH AFRICAN REVENUE SERVICE

PRO FORMA BOND FOR A REMOVER OF GOODS IN BOND

To be furnished by a remover of goods in bond in accordance with the provisions of section 64D(6) of the Customs and Excise Act, 1964 (Act 91 of 1964) and the rules for section 64D

Know all whom it may concern that—

Whereas ________________________ as principal debtor, herein represented by:

in their respective capacities as

and:

______________________________ as surety and co-principal debtor in solidum

herein represented by:

1.        __________________________________

2.        __________________________________

in their capacities as

1.        __________________________________

2.        __________________________________

being duly authorised thereto by virtue of standard internal regulations relating to signing powers

*Delete which is not applicable

are truly and lawfully indebted and are held and firmly bound to the Commissioner for the South African Revenue Service

in the amount of R____________________________________________________ (amount in words) to be paid on demand to the said Commissioner,

for which payment well and truly to be made we bind ourselves jointly and severally, each for the whole our heirs, executors, administrators and assigns,

and, whereas—

the Principal Debtor is desirous of transacting business with the Commissioner for the South African Revenue Service as a licensed remover of goods in bond for the removal or carriage of bonded goods on behalf of a consignor to any destination within or outside the Republic as declared on any bill of entry or other document prescribed or approved by the said Commissioner for the purpose of entry of such goods, subject to the customs and excise laws of the Republic of South Africa governing the removal or carriage of such goods,

NOW therefore the conditions of this obligation are such that if the Principal Debtor shall, in accordance with the provisions of the said laws prove to the satisfaction of the Commissioner for the South African Revenue Service that such goods have been duly delivered, received and entered for customs purposes or have been duly taken out of the common customs area and received in the country of destination, in accordance with the particulars declared on the bill of entry for removal in bond, under rebate of duty or for export or on any other document prescribed or approved by the Commissioner for the purpose of such entry as the case may be, and otherwise fully comply with every obligation imposed under the provisions of such laws, then this obligation shall be null and void, otherwise, it shall remain in full force and effect.

FURTHERMORE WE, the Principal Debtor(s) and Co-Principal Debtor(s) renounce and waive the exceptions:

(i)        Beneficium ordinis seu excussionis;

(ii)        Beneficium divisionis; and

(iii)        Any other exception that may be taken in law.

With the meaning and effect of which we are fully acquainted.

This guarantee is not transferable or negotiable.

All admissions or acknowledgements of indebtedness made by the Principal Debtor shall be binding upon the Co-Principal Debtor.

The Commissioner or his delegated officer shall be at liberty, without affecting the Commissioner's rights hereunder, to release securities provided by or on behalf of the Principal Debtor by any person, association of persons, firm or company and to give time to, or compound or make other arrangements with the Principal Debtor its legal representative in insolvency, judicial management or otherwise.

Any claim arising hereunder may be recovered in any division of the High Court of South Africa as the Commissioner may elect and the Co-Principal Debtor hereby consents and submits to the Jurisdiction of such a Court in respect of any such claim.

Signed by the principal at __________________________ on this __________ day of ____________________________ 20

In the presence of the subscribed witnesses:

Signed by the Surety(ies) and Co-Principal Debtor(s) on this _______day of ___________________________ at _______________________________

In the presence of the subscribed witnesses:

1.        __________________________________

2.        __________________________________