Finance / Banking (Sellers) Published date: January 15, 2019

Description of Instruments:
1. Instrument: Bank Guarantee (BG)
2. Total Face Value: Eur/USD 1Million(Min) to Eur/USD 5Billion (Max)
3. Issuing Bank: HSBC Bank London, Credit Suisse Zurich and Deutsch Bank AG. Frankfurt Germany or any AA Rated Bank.
4. Age: One Year and One Day
5. Purchasing Price: 35% of Face Value plus brokers commission
6. Delivery: Bank-To-Bank Swift.
7. Payment: Wire Transfer
8. Hard Copy: Bonded Courier within 7 banking days.
PROCEDURE:
1. Both parties (Buyer and Seller) execute, sign and initiate the Deed of Agreement, which thereby automatically becomes a full commercial recourse contract.

2. Within 3 days after Both parties sign the Agreement, Seller will issue a Notarized signed and sealed Corporate Refund Recourse Undertaking to the Buyer guarantying to refund Buyer all the cost incurred by Buyer for the bank transmission charges ( For swift MT760 BG/SBLC or Pre-advice MT799 or both as the case may be) after due execution of the contract.

3. Within 3 working days after Buyer receives Seller's signed and sealed Corporate Refund Recourse Undertaking, Buyer will make payment by wire transfer into the Sellers's bank account for the bank transmission charges for the BG/SBLC MT760 swift transmission or Pre-advice MT799 swift transmission or both.

4. Within Three (3) banking days after confirmation of receipt of payment of the bank transmission charges for the BG/SBLC MT760 swift in Seller's bank account, the Seller will deliver the BG/SBLC via bank confirmation of swift BG/SBLC MT760 to the Buyer's banker including the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days.

5. Buyer pays Seller the Purchasing fee and the brokers their commission fees not later than 7 banking days after the BG/SBLC hard copy is received and confirmed at Buyer's bank.

Should Buyer default to pay the Purchasing fees to the Seller and the brokers commission fees as agreed after 7 banking days of confirmation of BG/SBLC MT760 in Buyer's bank account, Seller will instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Buyer's bankers to return the BG/SBLC MT760 to the issuing Bank.

• Company Name: INFODRIVE RESOURCES
• Country: NIGERIA/UK

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