SOUTH AFRICAN REVENUE SERVICE

PRO FORMA BOND FOR A LICENSED DISTRIBUTOR OF FUEL

(To be furnished by a licensed distributor of fuel in accordance with the provisions of section 64F of the Customs and Excise Act, 1964 (Act No. 91 of 1964) and the rules for section 64F)

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 whichever 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 distributor of fuel as contemplated in section 64F of the Customs and Excise Act, 1964 and the rules therefor for the purpose of obtaining a refund of duty on fuel obtained from stocks of a licenseeof a customs and excise manufacturing warehouse and removed in accordance with any prescribed document and delivered to a purchaser in any other country in the common customs area or exported, subject to compliance with the provisions of the said section and rules and any other customs and excise laws of the Republic governing such refund or the removal or export of such fuel,

NOW therefore the conditions of this obligation are such that if the Principal Debtor shall, in accordance with the provisions of the said provisions of such section, the rules and other laws, have proved to the satisfaction of the Commissioner for the South African Revenue Service that such goods have been duly delivered in the common customs area or have been duly taken out of the common customs area for export in accordance with such prescribed document for the purposes of entitlement to a refund of duty, and shall have repaid any amount of duty which was not duly refundable in respect of such removal or export, and otherwise fully comply with any obligation imposed under the provisions of such section, rules or other 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:

(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.        __________________________________

and as Surety(ies) and Co-Principal Debtor(s) in solidum herein represented by—

in their respective capacities as—

2.        __________________________________

they being duly authorised thereto by virtue of standard *internal banking / insurance regulations relating to signing powers, to the bond in the sum of R______________________

Signed on behalf of the principal at ________________________________________ on this ________day of _____________________________20         are bound under that bond, is hereby increased by an amount of R_________________ to R_______________

Signed by the principal at _____________________________ on this _____________ day of ________________________20        at _________________________________________

In the presence of the subscribed witnesses:

1.        ______________________________        1.        __________________________

2.         ______________________________        2.        __________________________

Signed by the Surety and Co-Principal Debtor on this the

In the presence of the subscribed witnesses:

1.        ______________________________        1.        __________________________

2.         ______________________________        2.        __________________________

*Delete whichever is not applicable