1. Buyer submits the signed LOI/DOA with full banking coordinates, CIS, Passport Copy, Non-Solicitation, Board Resolution, Certificate of Incorporation etc.
2. Seller will countersign the LOI/DOA within 3 banking days and return it to Buyer with details of Issuing bank, passport copy etc.
3. Within 3 banking days thereafter, Buyer shall cause his bank to issue BCL (Appendix 1) by SWIFT MT799 to the Seller’s bank.
4. Within 3 banking days after authentication of BCL by SWIFT MT799, Seller’s bank shall send MT-799 Pre-advice to Buyer’s bank. (Pre-Advice shall be valid for (10) Ten banking days only).
5. Within 3 Banking days thereafter, Buyer shall cause his bank to issue an ICBPO by SWIFT MT799 to the Seller’s bank; with full banking RESPONSIBILITY to pay the 48+2% being the price for the BG/SBLC.
6. Within 3 banking days Seller’s bank shall deliver the BG/SBLC by SWIFT MT760 to Buyer’s bank account.
7. Buyer’s bank confirms and verifies BG/SBLC MT-760; Buyer shall within (1 to 7) Banking days to pay 48% to Seller’s nominated account and also pay the additional 2% commission fees to agents as per the below attached IMFPA. (Should Buyer default to pay the funds to Seller and the Intermediaries fees as agreed on this contract within allowed number of days upon confirmation of SWIFT MT-760, Seller shall instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Buyer’s bankers to return the BG/SBLC SWIFT MT-760 to the issuing Bank.)
8. Within 7 banking days after receiving money, the hard copy will be sent to Buyer’s bank by bank-bonded courier.
9. Following tranches will follow from point number 3 to point number 8 until funds and collateral have been exhausted by the both parties
10. The Parties send copies of bank massages via e-mail within twenty four (24) hours since massages issuing date.
11. Any unauthorized calls by any party or its representative lawyers to probes or communication in improper way to bank(s) in this transaction shall be prohibited and contract terminated.
12. This Deed of Agreement is a full recourse commercial commitment governed by the Law of the jurisdiction that both parties reside and standards under ICC Regulation.
Loading Google map...