KinerjaPay Corp. announced that the company received its payment mechanism in the form of a Letter of Credit (L/C) from its Buyer to ship Coal Grade NAR 3,800 kcal/kg (ARB) to Tianjin Port, China. The Letter of Credit was issued by the Buyer's Bank to the company's bank at China Construction Bank in Indonesia as a payment guarantee for the shipment of 70,000 Metric Tons Coal Grade NAR 3,800 kcal/kg (ARB) with specifications of Ash Content at 5% ADB rate, Moisture at 34% ARB rate, and Volatile Matter at approximately 40% ADB rate. The laycan period, usually expressed in the terms of layday and canceling dates, is scheduled to be from 20th February to 28thFebruary 2021, in which the contract must start. The Company has negotiated with local suppliers at East Kalimantan and some local miners to fulfill the required quantity. The Company has also negotiated payment terms with the suppliers which follow the terms specified on the Letter of Credit. The company expects the loading process to be running smoothly upon its commencement. The first shipment is worth USD 2.1 million based on the contract price for the calorific value of NAR 3,800 kcal/kg. As soon as the first shipment is completed, buyer will immediately schedule another laycan date for the next shipment. Each loading period shall take maximum 2 weeks to complete, with each week delivering minimum 5 flat-bottom barges of 7,000 tons per load. This coal contract is expected to earn in excess of $10 million of operating profit at todays prices for the company.