AGREEMENT

This agreement is made on ______ between

GCC Exchange, P.O Box 41704, Dubai, United Arab Emirates incorporated under the Laws of the Emirate of (hereinafter referred to as "First Party" which expression shall include its successors and assigns) on the ONE PART

AND

_____________________________ , a company incorporated in the UAE and having its registered head office at P O Box ___ , ___ , UAE (hereinafter referred to as "Second Party" which expression shall include its successors and assigns) on the OTHER PART.

Each party is singularly referred to as a "Party" and both parties collectively as the "Parties"

Whereas the "First Party" is Jointly authorised by the Ministry of Labour and the Central Bank of UAE to provide the Service of Salary Payment under the Wages Protection System and is in the business of ;

a. Facilitating the payment of employees in line with the regulations as laid down by the WPS in the UAEthrough its own branches or through its Partner Bank/financial institutions and other approved third partyproviders;

b. and; facilitating value added services on those cards within the UAE and overseas and;c. providing other services to the cardholders as required from time to time.

Whereas the 'Second Party" (Client) desires to obtain these services through the "First Party"; which shall deliver the same, in itself or through a Third Party to the Workers of the "Second Party" in favour and on behalf of the "Second Party". Therefore, the Two Parties agreed on the following

PURPOSE OF THE AGREEMENT

This agreement is entered into for disbursement of salaries to the employees of the Second party by the First Party as per rules and regulations governed by the Wage Protection System (WPS) and subject to following terms and conditions

DEFINITIONS:

The following definitions apply:

• WPS means the Wages Protection System as defined from time to time by the UAE Ministry of Labor.

• The term employee would mean and include an individual employed by the Second Party in his company.

• Card "PIN" is the Personal Identification Number allocated to each employee for secure card use atautomatic teller machines (ATM) or cash disbursement machines (COM) either owned by the first party orusing the switch enabled ATM's of the banks .

• KYC (Know Your Customer) regulations are established by the banking institution that supports theissuance of the payroll card and are intended to prove the identity of the proposed card holder.

• Employee account is the individual employee record held on the database and is created on the basis ofinformation provided by the Client.

• Active Cardholder Account is an account that is still maintained on the database and will remain on thatdatabase. In case there is no process of salary in any of the card, the particular card will be cancelled at theemployees cost.

• ATM is an Automated Teller Machine.

• COM is a Cash dispensing Machine.

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First party, the

AED 105 /- (UAE Dirham One Hundred and Five Only)as the registration charges inclusive of VAT.

6.00 16.00

8.00 13.00Own Bank

Own Bank

5. VAT - Tax registration Number

6.

7.

8.

9.

12.

11.

10.

(*Attach VAT registration certificate)