- For the purpose of raising the fund under the Facility, the
Issuer will appoint P2P Nusa Kapital as its agent with fees
(Wakalah bil ujrah) in the Principle Wakalah agreement to
raise funds (i.e Commitment Amount) from the Investor Group
and remit the same to the Trust Account 1 for the purpose of
investing in the designated Project.
The Parties agree that P2P Nusa Kapital service fee (Wakalah
fee) shall be paid based on a percentage (determined based
on the risk score)of the Commitment Amount. The payment
shall be deducted from the Commitment Amount once the
Commitment Amount has been successfully raised and remitted
to P2P Nusa Kapital from the Trustee Account 1.
||Upon acceptance of the Murabahah Facility Letter and for the purpose
of collection of the Asset Purchase Price, P2P Nusa Kapital shall
direct and instruct the Investor to promptly remit the Financing
Amount into Trust Account 11
Once the Commitment Amount is fully raised, the Issuer shall
make the Purchase Request to the Group of Investors pursuant
to the terms of the Murabahah Facility Letter.
- In the Purchase Request, the Issuer will request the Group
of Investors to purchase the Asset and the Issuer will,
under the Principle of Wa’d Mulzim, irrevocably and
unconditionally undertake to purchase the Asset from the
Group of Investors at the Asset Sale Price upon the Group of
Investors having purchased the Asset from the supplier.
In order to facilitate the financing exercise, the Issuer will
appoint P2P Nusa Kapital as its agent (Wakeel) without fees to
enter/execute the Murabahah Sale Contract on behalf of the Issuer
pursuant to the terms of the Wakalah Letter 1.
The Group of Investors shall appoint P2P Nusa Kapital as its agent
pursuant to the terms of the Wakalah Letter 2 to undertake the
specific tasks as detailed out in the Murabahah Facility Letter,
including to conclude the purchase of the Asset from the supplier
and to enter/execute the Murabahah Sale Contract on behalf of the
Group of Investors.
||For the purpose of purchasing the Asset, P2P Nusa Kapital will
appoint the Issuer as its sub-agent pursuant to the terms of the
Wakalah Letter 3 to purchase the Asset from the supplier at the
total Asset Purchase Price (equivalent to the Commitment Amount).
||By virtue of Wakalah Letter 3, the Issuer shall, on behalf of P2P
Nusa Kapital, purchase the Asset at total Asset Purchase Price
(equivalent to the Commitment Amount) from the supplier resulting in
beneficial ownership to the Group of Investors.
||For purpose of Item 7, the Trustee, being the operator of Trust
Account 1, shall release the total Asset Purchase Price (Commitment
Amount) to the supplier upon instruction of P2P Nusa Kapital.
The Group of Investors will then sell and the Issuer shall purchase
the Asset by executing the Murabahah Sale Contract at the Total
Asset Sale Price on deferred payment terms subject to the terms and
conditions of the Murabahah Facility Letter. Pursuant to the
appointment of agency, P2P Nusa Kapital will act as the agent for
the Group of Investors and the Issuer, and will conclude the
Murabahah Sale Contract on behalf of both parties.
||The payment of the Total Asset Sale Price shall be made by the
Issuer to the Group of Investors via Trust Account 22
- Upon instruction by P2P Nusa Kapital, the Trustee shall
distribute the Total Asset Sale Price (including
compensation, if any) to the Group of Investors from Trust
- Upon Maturity or Early Redemption of the project: A final
account notice will be issued to the investors and issuers
whereby any disagreement needs to be notified to NK in
writing within 7 days from the notification date
- Upon default: The investors will be notified via email
within 7 days from the default date to vote on the options
as per the “Default Recovery Process”