1) That's the knockoff of the Eagle CIRAS (name has been altered for legal reasons)
2) This is how it should be worn:
http://www.redwolfairsoft.com/redwol...l?prodID=24614
Yes, the cummerbund goes around your waist.
This may provide additional insight:
http://www.greenmountaintactical.com...ras/ciras.html