The bolt goes on the inside. There should be a flat hex bolt(black) fits flush on the outside. The silver grommet sits on top of the rubber with a lock washer. At least this was the way I did it and interpreted the instructions.
The flat head black oxide bolt goes through a pass through and is secured with a fender washer and nyloc nut. They made the bolt just barely long enough to poke through (so you can still get the tool kit in there). It's a complete pain trying to secure the nut so I ordered a longer bolt, don't need the $3 tool kit - even the Kawasaki one is better
That's why I went for the Rizoma, it's a nice product, properly finished....... (except for my finishing with the bolt through reflectors....... which have now been replace with adhesive versions!)