FRESH CUT BANK GUARANTEES (BG/SBLC) FOR SALE 43% + 2%
Modified date: May 6, 2020
FRESH CUT BANK GUARANTEES (BG/SBLC) FOR SALE 43% + 2%
PARTICULARS OF AGREED BANK INSTRUMENTS
Status: Bank Guarantee (hereinafter referred to as the “BG”).
Issuing Bank: Credit Suisse, Deutsche Bank and/or other acceptable AA-rated European bank(s).
Tenure: Matured at one (1) year and one (1) day since date of issue.
Currency: European Union Currency (hereinafter referred to as the “EUR”).
Contract Amount: EUR Ten Billion (€10,000,000,000.00) with Rollover(s) and Extension(s).
First Tranche: EUR One Hundred Million (€100,000,000.00).
Subsequent Tranches: EUR Five Hundred Million (€500,000,000.00) each or as mutually agreed by the Parties.
Cost: Forty-Three Percent (43%) of BG face value.
Payment Mode: By SWIFT MT799 Bank Payment Undertaking (hereinafter referred to as the “BPU”) and followed with unconditional MT103 wire transfer of funds once MT760 BG successfully confirmed.
Commission: Additional two Percent (2%) of BG face value payable by Party A in accordance with Master Fee Protection Agreement
Pre Advice: By SWIFT MT799 to be sent from BG issuing bank to Party A’s bank.
Mode of Delivery: By SWIFT MT760 to be sent from BG issuing bank to Party A’s bank and hard copy is to be delivered from BG issuing bank to Party A’s bank via bonded courier within Seven (7) banking days upon receipt of cash payments
Confirmation: By bank-to-bank SWIFT.
TRANSACTION PROCEDURE
1. Party A issues, signs and sends this Agreement along with banking information and full package of compliance documents listed as below by electronic mail (“Email”) to Party B:
a. Party A’s transaction bank approved BG Verbiage (as per Annex A),
b. Scanned photocopy of Party A’s Certificate of Incorporation (as per Annex B),
c. Scanned photocopy of passport of Party A’s authorized signatory (as per Annex C),
d. Board Resolution (as per Annex D), if necessary
e. Information Summary (as per Annex E),
f. Non Solicitation Statement (as per Annex F),
g. Non Circumvention and Non Disclosure Working Agreement (as per Annex G), and
h. Master Fee Protection Agreement (as per Annex H).
2. Upon receipt of Party A’s signed Agreement with full package of documents, Party B shall do diligence and, once accepted, countersign and return the Agreement with banking information, scanned photocopy of Party B’s Certificate of Incorporation (as per Annex I) and scanned photocopy of passport of Party B’s authorized signatory (as per Annex J) by Email to Party A, therefore, this duly signed Agreement automatically becomes a legally binding commercial contract between the Parties.
3. Party B shall instruct its bank (xxx) to contact with Party A’s bank officer by SWIFT MT799 (as per Annex K) to identify Party A’s ability to issue MT799 BPUs as soon as the MT799 Pre Advice delivered to Party A’s bank. Party A’s bank responds via SWIFT MT799 (as per Annex L) to Party B’s trust bank that Party A is able to issue MT799 BPUs upon acceptance of MT799 Pre Advice delivered to Party A’s bank.
4. Once confirmed, Party B’s BG issuing bank shall send Pre Advice via SWIFT MT799 (as per Annex M) to Party A’s transaction bank.
5. Upon receipt and acceptance of the Pre Advice, within Three (3) banking days, Party A’s transaction bank shall issue Two (2) Master BPUs via SWIFT MT799 (as per Annex N) in favour of Party B’s nominated Master Project Account and Seed Capital Account respectively.
6. Upon satisfactory confirmation of BPUs, within Three (3) banking days, Party B’s BG issuing bank shall deliver agreed BG into Party A’s transaction bank via SWIFT MT760 favouring Party A’s nominated beneficiary.
7. Upon successful verification and authentication of the MT760 BG, within Eight (8) banking hours, Party A’s bank shall remit cash funds equivalent to Eighty Five Percent (85%) of BG face amount, without any deduction and delay, by MT103 wire transfer of funds into Party B’s nominated accounts according to confirmed BPUs. Simultaneously Party A shall effect cash payments of commission fees to all identified intermediaries. All payments shall be made in EUR only.
8. Upon full receipt of cash funds, within Seven (7) banking days, BG hard copy shall be delivered from Party B’s BG issuing bank to Party A’s transaction bank via bonded courier.
9. Subsequent tranches are to be continued according to above stated procedure 3 to 8 and subject to the tranching schedule mutually agreed by the Parties till contracted amount of BGs are transacted and delivered in full.
- Company Name: ADWENPA CONSULT
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