NON-INDIVIDUAL/BUSINESS ACCOUNT Level 9, Kina Bank Haus

OPENING FORM Douglas Street PO Box 1141

Port Moresby NCD 121
PAPUA NEW GUINEA

CIF Number:

Account Number: (Bank use only)

SECTION 1 BUSINESS NAME AND ACCOUNT

Entity name (IPA Registered): VBT Contractors PNG LIMITED

Sole Trader Limited Company NGO Partnership Trust Association

*If Other (please state):

Account type: Cheque Account Kina Business Account (SME) Cash Management Account Fixed Deposit
SECTION 1B MAIN BUSINESS ENTITY ACTIVITY
Tick the appropriate boxes where information is provided: IPA TIN (Tax Identification Number) Entity Profile

Construction,Mining & Quarrying,Whole Sale, & Retail Trade,Sale and Repair of Motor Vehicles,Motor cycles,etc.

SECTION 2 SERVICE TYPE

Kina Business Visa Debit Card Cheque Book 50 100 200

Enable Transaction Alerts: WhatsApp SMS

Digital Banking Channels: Internet Payment Gateway EFTPOS Merchant Payment Portal

Corporate Internet Banking Would you like to be added as a biller for payments? Yes No

SECTION 3 PARTICULARS OF BUSINESS, COMPANY, SOCIETY ETC

Name: VBT CONTRACTORS PNG LIMITED

Company/Business Registration No: 1-132639213 Date of Registration/Incorporation: 19/07/2024

Place of Registration/Incorporation: PORT MORESBY Business Telephone Number: 76590750

Tax Identification Number (TIN): Mobile: 73364580

Correspondence address: LOT 91,SECTION 227,DIKAGARI STREET, TOKARARA,PORT MORESBY

Physical address of business: LOT 91, SECTION 227, DIKAGARI STREET,TOKARARA,PORT MORESBY

Email address: [email protected]

Exempt from Witholding Tax or Stamp Duty Yes No

SECTION 4 PARTICULARS OF BENEFICIAL OWNER INFORMATION - SHAREHOLDERS INFORMATION

Natural Persons (Primary holdings of 20% ownership or more as a shareholder is subject to Kina Bank ID requirements)
Full Name Shareholding % Nationality Country of residence Gender Date of Primary ID Expiry
Birth Date
Gershom Toubulukw 60 PNG PNG M 29/04/94 1324383 26.04.25
VICTOR BILLY 40 PNG PNG M 17/11/79 048605807 28.08.29
 Organisation/Entity (Any natural person in the organisation/entity is subject to Kina Bank ID requirements)
Full Name Shareholding % Incorporation Name of Natural Nationality Gender Country of
Registration Person residence
Number

Foreign Ownership: PNG Ownership:

SECTION 5 CUSTOMER INCOME AND ACCOUNT ACTIVITY

Primary Source of Income

Savings/Investments Income Proceeds from Sale of Assets Government Benefits/Pension

Business Proceeds Other* *If Other (please state):

Purpose of Account

Borrowing In-Country Facilitate loan proceeds and payments Business Investment Other*

*If Other (please state):

Expected Transaction Types

Cash Deposits Domestic Transfers Clearing Cheques Cash Withdrawals International Transfers

Loan Payments Cheque Withdrawals Foreign Currency Exchange Other*

*If Other (please state):

Expected Transaction Activity (Per Month):

Domestic: Average number of transactions Average Amount (K’000)

0-55 51-100 101-150 151 & above 0-20 21-50 151 & above

International: Average number of transactions Average Amount (K’000)

0-55 51-100 101-150 151 & above 0-20 21-50 151 & above

Funds will be REMITTED to (where money will be sent to): Funds will be REMITTED from (where money will be sent from):
Country: Country:

Frequency: Weekly Fortnightly Monthly Frequency: Weekly Fortnightly Monthly

Details: Details:

SECTION 6 SIGNATURES AND DECLARATION

I/We hereby:
• Declare that the information provided herein is true and account(s) opened with the Bank now and hereafter.
correct. • Declare that I/we have not committed any act of
• Authorise Kina Bank Limited to open an account. bankruptcy at the time the account(s) was/were opened.
• Acknowledge having received and read the Terms and • Agree to examine and notify the Bank of any errors,
Conditions governing the conduct of Bank Accounts in irregularities or discrepancies in the statement of account
my/our name(s). sent to me/us and notify the Bank if I/we fail to receive
• Acknowledge having received and read the Terms and such monthly statement.
Conditions governing the use of Internet and Mobile • Give consent to the listed signatories in Section 7 of this
Banking. form to transact on my/our behalf.
• Agree to be bound by the provisions of the Terms and
Conditions and any amendments to the same for any
Signed on behalf of Entity Name): VBT CONTRACTORS PNG LIMITED

Full name 1: GERSHOM TOUBULUKWA Position: Owner

Gender: M Nationality: PNG Primary Identification type: DRIVERS LICENCE

Primary Identification Number: 1324383 Expiry date: 26/04/2025

Signature:

Full name 2: VICTOR BILLY Position: Owner

Gender: M Nationality: PNG Primary Identification type:

Primary Identification Number: Expiry date:

Signature:

Full name 3: PENIAS GISATALA Position: ADMINATRATION MANAGER

Gender: M Nationality: PNG Primary Identification type: N I D

Primary Identification Number: 0436960716 Expiry date: 05/09/2029

Signature:

Full name 4: Position:

Gender: Nationality: Primary Identification type:

Primary Identification Number: Expiry date:

Signature:

Foreign Account Tax Compliance Act (FATCA) applies to US Citizens/Residents Yes No

SECTION 7 ACCOUNT SIGNATORIES

Anyone to sign All to sign Other*

*If Other please specify (provide letter of instruction):

At least 2 of the nominated signatories

Full name: GERSHOM TOUBULUKWA Full name: PENIAS GISATALA

Position: MANAGING DIRECTOR Position: ACCOUNTS & ADMINISTRATION MANAGER

Signature: Signature:
Date: Date:

Full name: VICTOR BILLY Full name:

Position: PROJECT MANAGER Position:

Signature: Signature:

Date: Date:
SECTION 8 ACCOUNT(S) LINKING TO KINA BANK INTERNET
Please list the accounts that the Business would like to link to Kina Bank Internet

Account 1 - Primary Account Account 2

Account Name: Account Name:

Account No: Account No:

Number of signatories required to approve: Number of signatories required to approve:

Account 3 Account 4
Account Name: Account Name:

Account No: Account No:

Number of signatories required to approve: Number of signatories required to approve:

Account 5 Account 6
Account Name: Account Name:

Account No: Account No:

Number of signatories required to approve: Number of signatories required to approve:

SECTION 9 BUSINESS CONTACT PERSON - ADMINISTRATION

This person must already be identified and verified by Kina Bank in accordance with the law and Kina Bank’s identification
requirements. If you have not provided your identification details previously, please complete the CI&V Checklist.

Title: Miss Mr Mrs Other

Surname: TOUBULUKWA First Name(s): GERSHOM

Date of birth: 29/04/1994 Phone: 76590750 Mobile: 73364580

Email Address: [email protected]

Functional Title: Mananging Director/ Owner

You (the business) authorise the person named above to act as the Administrator who will control access to your accounts via
Corporate Internet and act as the principal contact for the service.

SECTION 10 DELEGATED USER DETAIL

Please list the individuals who have delegated authority to access and transact on Kina Bank accounts listed in Section 6 of this
form using Corporate Internet. Delegated users are restricted to perform transactions within the limits and amounts defined by
the Administrator.
User 1
Surname: GISATALA Given Name(s): PENIAS

Functional Title: ACCOUNTS & ADMINATRATION MANAGER Date of Birth: 26/09/1998

Mobile: 70131089 Email Address: [email protected]

User 2
Surname: BILLY Given Name(s): VICTOR

Functional Title: OPERATIONS MANAGER/ Owner Date of Birth:

Mobile: Email Address: [email protected]

FOR BRANCH USE
Customer ID place of issue:

Customer Residential Status: Resident Non-Resident

Staff related: Yes No Industry Code:

Type of A/C: C/A CMA FDA S/A KBA (SME)

Other Information:

Attended by: Approved by: Date:

TERMS AND CONDITIONS
NON-INDIVIDUAL ACCOUNT
1. Authorisation and Request
1.1 I/We authorise and request the Bank to honour and comply with all cheques, drafts, orders to pay, bills of exchange
and promissory notes expressed to be drawn, signed, accepted, endorsed or made on my/our behalf drawn upon or
addressed to or made payable by the Bank whether my account(s) is/are in credit or in debit or may become overdrawn in
consequence or otherwise.
1.2 I/We further authorise and request the Bank to honour and comply with any written order to withdraw any or all money
on any of my/our account(s) and my/our written instructions to deliver, dispose of or deal with any securities, deeds
or documents or other property (including safe deposit boxes and their contents) whatsoever from time to time in the
possession of the Bank for my/our account(s) whether by way of security or safe custody or otherwise.
2. Banking Charges
2.1 I/We hereby agree that the Bank shall be entitled to charge for any of its services provided to me/us at the rates as notified
by the Bank to me/us from time to time or in the absence of such notification, at a reasonable rate. All bank charges when
due shall be debited to my/our bank accounts.
3. Change of Address, Signature or Particulars
3.1 Any change of address or signature(s) or other particulars that are recorded with the Bank shall be notified to the Bank
in writing. All communications including the service of any legal process sent by post to or left at my/our last address
registered with the Bank shall be deemed to have been duly delivered to and received by me/us.
4. Limitation of Liability
4.1 I/We agree that the Bank shall not be responsible for any direct, indirect, incidental, punitive, special or consequential
damages or economic losses incurred by me/us, any Authorised User(s) or any party caused arising directly or indirectly in
connection with our Internet Banking & Mobile Banking Service, any instruction and/or this Agreement and I/we shall fully
indemnify the Bank and hold the Bank harmless against all losses, costs and expenses which may be incurred by me/us or
by the Bank in connection with any or all of the bank accounts whatsoever or the execution by the Bank of any instructions
or if any of my/our bank accounts or any part thereof is reduced or frozen by any government or official authority.
4.2 I/We further agree that when the Bank incurs liability for or at my/our request, any funds or securities and other valuables
deposited with the Bank (whether deposited by way of security, safe custody or for any other specific purpose) belonging
to me/us and in the hands of the Bank shall automatically become security to the Bank and the Bank shall have the right to
retain such funds or securities and other valuables or any part thereof and even dishonour my/our cheque until the liability
is settled.
5. Right of set-off
5.1 I/We agree that in addition to any general lien or other similar right to which the Bank as bankers may be enlisted at Law,
the Bank may at any time, without prior notice, combine or consolidate any or all of the bank accounts with and the
liabilities to the Bank and set-off or transfer any sum or sums standing in the credit of any or all of the bank accounts in
or towards satisfaction of any of my/our liabilities to the Bank whether such liabilities to the Bank be primary or collateral
or several and joint. Further in, so far as my liabilities to the Bank be contingent or future, the Bank’s liabilities to me/us
to make payment of any sum(s), standing to the credit of any of my/our bank accounts shall be to the extent necessary to
cover such liabilities and be suspended until the happening of the contingency or future event.
6. Cheques
6.1 Cheques may not be drawn on the Bank except on the forms supplied and registered for such purpose. Cheques may be
used only to draw on bank accounts designated by the Bank as current accounts or such other accounts as the Bank may
from time to time stipulate. Application for cheque books should be made on the printed application forms or by written
request.
6.2 The Bank shall be entitled to dishonour cheques on which (in the opinion of the Bank) the signature differs from the
specimen supplied to the Bank.
6.3 All alterations on cheques should be confirmed by the drawer’s full signature. The Bank may dishonour cheques on which the
alterations are confirmed by incomplete signatures or initials only. Cheques with the crossing ‘Opened’ can only be paid in
cash when presented for payment by the drawer or his known agent.
6.4 All instructions to stop payment of cheques must be in writing and will be effective only upon receipt by the Bank. The Bank
shall not, however, be held liable for any delay or omission in executing such instructions. All stop payment instructions shall
lapse after a period of twelve (12) months from the date of the instruction.
6.5 All cheques remain the property of the Bank and upon closure of the account upon which I/we may draw by cheques either
by me/us or the Bank, all unused cheque forms which were issued to me/us forthwith must be returned by me/us to the
Bank.
7. Deposits and Withdrawals
7.1 Every deposit shall be accompanied by a deposit slip or any appropriate form issued by the Bank. A receipt issued by the
Bank is only valid if it is machine validated or acknowledged by an authorised officer of the Bank. I/We must ensure that this
is done before leaving the premises of the Bank.
7.2 All cheques and instrument(s) deposited are accepted for collection only and except by special arrangement and may not be
 drawn against until the proceeds have been received by the Bank.
7.3 Cheques received for collection but dishonoured may be sent by ordinary post to me/us at the address last registered with
the Bank at my/our own risk and expense.
7.4 I/We shall indemnify the Bank as collecting banker for any loss which the Bank may incur by reason of its guaranteeing any
endorsement, discharge or discharges on any cheque, bill, note, draft, dividend, warrant or other instruments presented
by me/us for collection and every guarantee given by the Bank shall be deemed to have been given at my/our expressed
request in every case.
8. Overdrafts
8.1 Where an overdraft is permitted by the Bank, each principal amount advanced by the Bank at its discretion shall be payable
by me/us upon demand from the Bank together with interest and if applicable all other commissions, discounts and
banker’s charges. The rate of interest chargeable in respect of the overdraft shall be determined by the Bank from time to
time and shall be computed on the principal amount for the time being owing on a daily basis and if such interest or any
part thereof is not paid each month when the same is due, such interest shall (so long as it remains unpaid) be capitalised
and aggregated with the Principal amount for the time being owing and interest shall accrue thereon as herein provided.
9. Statement of Account
9.1 A statement of the balances on my/our bank accounts will only be rendered once a month. If however, there are no
transactions during the month no statement will be rendered.
9.2 I/We agree to examine and notify the Bank of any errors, irregularities, discrepancies, claims or unauthorised debits or items
whether, made, processed or paid as a result of forgery, fraud, lack of authority, negligence or otherwise by any person
whatsoever.
9.3 I/We further agree that if I/we fail to advise you in writing of the non-receipt of the statement and obtain the statement from
you, or to notify you of any errors, discrepancies, claims or unauthorised debits or items in the statement within twenty-one
(21) days from the date of the statement, the Bank’s accounts or records shall be conclusive evidence of the transaction
entries and balances in such accounts and I/we shall be deemed conclusively to have accepted all matters contained in the
statement as true and accurate in all respects. Any amendment thereafter of the statement shall be at the sole discretion of
the Bank.
10. Restriction and Closure of Accounts
10.1 I/we agree that the Bank reserves its right to restrict or freeze or close any Account or cease any Services, including but
not limited to the following events:-
a) Upon being duly served with an order of a Court of Law in Papua New Guinea ordering the Bank to do so;
b) Upon being authorised to do so by a Regulatory Body or Authority in Papua New Guinea;
c) In compliance with any law or regulation which makes it illegal to maintain or allow use of the account;
d) Any act of forgery or uttering;
e) Any fraudulent activity;
f) On confirmed or reasonable suspicion that the account is being used for or in connection with any illegal activities or
transactions (including gambling, money laundering, funding terrorism, or tax evasion); or
g) On my/our failure to comply with any part of these Terms and Conditions.
10.2 The Bank may close any Account or cease any Service pursuant to Clause 10.1 above by giving notice fourteen (14) days
prior to actioning such intention.
10.3 I/We agree that the Bank will not be liable for any consequential loss or damage that I/we may suffer as a result either
directly or indirectly from the closure or restriction of my/our Account or Service.
10.4 I/We agree to indemnify the Bank against any related loss or claim that may arise as a consequence of the decision and
action taken by the Bank under Clause 10 and Clause 20 of these Terms and Conditions.
10.5 I/We agree that this Clause shall survive the closing, pursuant to the Terms and Conditions, of any Account and or Service
and my/our use of the Account or Service.
11. Joint Accounts - Applicable to Accounts in Joint Names
11.1 The Bank can collect for the credit into my/our account, cheques and other instruments belonging or payable to any of us.
11.2 In the event of death, bankruptcy or insanity of either/any of us, any balance remaining in the credit of our Joint Account
may be paid to the survivor(s) subject to, and/or as directed by PNG Law.
12. Disclosure
12.1 I/We hereby agree and authorise the Bank to disclose to any person any information about or with regard to my/our affairs
and/or bank accounts as authorised by Law or for such purposes as the Bank may deem reasonable or necessary.
12.2 I/We agree to accept any consequences flowing from the dissemination or disclosure of information by the Bank in
accordance with Clause 12, and will indemnify the Bank against any related loss or claim.
12.3 I/We agree that this Clause shall survive the closing, pursuant to the Terms and Conditions of any Account and/or Service,
and my/our continued use of the Account or Service.
13. Specific Terms and Conditions
13.1 Not withstanding anything herein contained in the Terms and Conditions governing the operation of any specific bank
account or the use of any card linked to any of my/our bank accounts as contained in any other document used in
connection with such bank account or card or as contained in any notice, brochure or advertisement of the Bank specifying
such additional Terms and Conditions as being applicable shall apply and in the event of any inconsistency shall prevail over
the Terms and Conditions herein.
14. Partnership Account (Applicable to Accounts Registered as Partnerships)
14.1 I/We agree that I/we shall be jointly and severally responsible for all the liabilities of my/our bank accounts.
14.2 The instruction given for operation of my/our bank accounts shall remain in force until revoked in writing not withstanding
any change in the constitution or the name of the firm and shall apply not withstanding any change in the membership of
the firm by death, bankruptcy, retirement or otherwise or the admission of new partner(s).
15. Rules and Regulations of Regulatory Bodies
15.1 In addition and without prejudice to any of the Terms and Conditions herein, where applicable, the Terms and Conditions
herein shall be governed by and subjected to the rules, regulations and guidelines from time to time issued by the Bank
of Papua New Guinea and other relevant bodies whether or not such rules, regulations and guidelines have the force of
Law. I/We hereby agree that the availability and the continued availability of any of the services presently and/or hereafter
from time to time and at any time offered by the Bank to me/us shall be dependent upon and subject to the said rules,
regulations and guidelines.
16. Standing Instructions, Withdrawals, Interest
16.1 Any payment or transfer of funds to be made or effected pursuant to any standing instructions given to the Bank shall be
subject to such minimum balances being maintained in the bank account from which the funds are to be paid or transferred
as may be from time to time as prescribed by the Bank.
16.2 Any withdrawal to be made from any bank accounts may be subject to such proof of identity being produced as the Bank
may require.
16.3 Interest on bank accounts shall only be payable according to the rates and conditions as advertised or notified by the Bank
from time to time and may be limited to specific accounts or subject to minimum balances being maintained.
17. Fees and Charges
17.1 The Bank Fee and Charges Document is to be read in conjunction with these Terms and Conditions and as such is deemed
to be part of these Terms and Conditions.
18. Interpretation
18.1 The expression ‘bank accounts’ shall mean each and every account which I/we maintain with the Bank and, if the context so
requires shall mean any one of such accounts.
18.2 The expression “Bank” or “you” shall mean Kina Bank Limited.
18.3 The expression “Authorized User” shall mean the person or persons in whose name the Account has been opened and who
is responsible for the Account under the Account signature mandate.
18.4 The expression “Services” shall mean any type of service provided by the bank.
19. Future Accounts
19.1 I/We agree that the above Terms and Conditions together with any subsequent additions, deletions or amendments shall
apply to any future accounts which I/we may maintain with the Bank.
20. Change of Terms and Conditions
20.1 The Bank may make changes to the Terms and Conditions that apply to my/our Account or Service as outlined in the
relevant Terms and Conditions. I/We deem to accept any changes to those relevant Terms and Conditions through my/our
continued use of the Account or Service. In the event that I/we do not agree to any change to the Terms and Conditions,
I/we am/are required to contact the Bank immediately in writing. The Bank may be required to close my/our Account or
Service in the event that I/we do not agree to any changes in the Terms and Conditions. Refer to the clause “Closure of
your Account or Service by the Bank” (Clause 10 of these Terms and Conditions) for further information on the Bank’s
course of action.
21. Anti-Money Laundering/Counter Terrorism Financing
21.1 I/We agree that:
a) The Bank may from time to time require additional information from us to assist the Bank in compliance obligations, or
where the Bank in its absolute discretion considers it appropriate, necessary or advisable to collect additional information
to meet broader disclosure requirements;
b) Where legally obliged to do so, the Bank will disclose any information gathered by the Bank to any legal authority,
regulator, or Government agency (enforcement or otherwise) in any jurisdiction as the Bank may in its absolute discretion
consider appropriate, necessary and advisable.
21.2 I/We agree to provide the Bank with the following undertakings and indemnify the Bank against any potential losses arising
from any breach by us of the following undertakings:
 a) I/We will not initiate, engage in or effect a transaction that may be in breach of any relevant Law or sanctions (including
those of other jurisdictions);
b) I/We will not engage in any activity underlying any transaction that may be in breach of any relevant Laws or sanctions
(including those of other jurisdictions).
21.3 I/We will co-operate to provide the Bank with additional information in connection with the Bank meeting its legal
requirements.
22. PNG Jurisdiction
22.1 The Customer Banking Agreement is governed by the Laws of PNG and I/we agree to submit to the jurisdiction of the
PNG legal system.
I/We acknowledge that I/we have read the Non-Individual Account Terms & Conditions and understood the contents
therein.

Full Name: Gershom Toubulukwa

Signature:

Full Name: Victor Billy

Signature:

Full Name: Penias Gisatala

Signature: