PROCEDIMIENTO SBLC

TRANSACTION PROCEDURE:

  1. Partner-2 gives to Partner-1 Letter of Intent from Customer (Client) indicating the recipient and his Bank details, Client Information Sheet (CIS), Client Signatory and Color Copy of Passport, Certificate of Incorporation.
  2. After Successful Due diligence Partner-1 and Partner-2 execute, sign and initial this Deed of Agreement, which thereby automatically becomes a full commercial recourse contract.
  3. Within 5 banking days after both parties sign the Agreement the Partner-2 on the basis of the present contract and invoice, makes in favor of the Financial Operator, Law Firm XXXXXXXX XXXXXX XXXXXX, the advance payment of one hundred fifty thousand (€150,000.00) Euro (0,X% of face value of the SBLC), for the organization of issue and delivery by SWIFT MT799 and SWIFT MT760 in favor of XXXXX XXXX XXXXX of the STANDBY LETTER OF CREDIT (SBLC) ("EXHIBIT C") in the amount of €X0,000,000.00 (XXXX million) Euro from XXXXXXXX BANK, XXXXXXX.
  4. Within five-seven (5-7) banking days after confirmation of receipt of payment of €150,000.00 (one hundred fifty thousand) Euro by Partner-1, the issuing bank will send to Partner-2-'s bank a pre-advice SWIFT MT799 ("EXHIBIT B"), a copy of MT799 will be sent by the banker of the issuer bank to the _______________ e-mails _____________@_______________
  5. Partner-2, within 5 (Five) banking days after successfully receiving and verification of the pre-advice by SWIFT MT799, provides notarized corporate obligation - PAYMENT CONFIRMATION LETTER (PCL) ("EXHIBIT C") to pay 0,X% of face value of the BG, total amount XXX hundred XXX thousand (€XX0,000.00) Euro within twenty (5) banking days AFTER SUCCESSFULLY RECEIVING AND AUTHENTICATING OF THE SBLC VIA SWIFT MT760.
  6. Partner-2, within 5 (Five) banking days after successfully receiving and verification of the pre-advice by SWIFT MT799, provides notarized corporate obligation - PAYMENT CONFIRMATION LETTER (PCL) ("EXHIBIT C") to pay 11% (1X%+X%) of face value of the BG, total amount XXXX million XXXX XXXXX XXXXX (€ X,XX0,000.00) Euro within fifteen (15) banking days AFTER SUCCESSFULLY RECEIVING AND AUTHENTICATING OF THE SBLC VIA SWIFT MT760.
  7. Beneficiary bank accept Pre-advice and issues a Confirmation Letter of Readiness to accept SBLC by MT760.
  8. Within five-seven (5-7) banking days after execution by Partner-2 of paragraphs 5,6 and 7, the issuing bank shall issue the SBLC ("EXHIBIT B") in favor of Beneficiary (Partner-2) and sends to Beneficiary's bank this STANDBY LETTER OF CREDIT by SWIFT MT760.
    A copy of MT760 will be sent by the banker of the issuer bank to the e-mails: ____@______ and ______@______.
  9. 9. Partner-2 has 5 (Fife) banking days after successfully receiving and authenticating of the SBLC via SWIFT MT760 to pay the fees of XXXX XXX XXX XXXXX (€ XX0,000.00) Euro (0,X% of face value of the SBLC) to Financial Operator by invoice of Partner-1 in accordance with paragraph 5.
  10. 10. Partner-2 has 15 (Fifteen) banking days after successfully receiving and authenticating of the SBLC via SWIFT MT760 to pay the fees of five million five hundred thousand (€ X,000,000.00) Euro (1X% of face value of the SBLC) to Financial Operator by invoice of Partner-1 and five hundred thousand (€ X00,000.00) Euro to Commission Agent, in accordance with paragraph 6.
  11. 11. Within five (5) banking days after receiving of agreed payments (1X%) by the Financial Operator and (X%) by the Commission Agent, the issuing bank, at the request of the beneficiary Bank, shall send the hard copy of SBLC to Beneficiary's bank by bounded courier.
  12. 12. If conditions of items 4. or 8., after execution by Partner-2 of paragraphs 5,6 and 7, will not be executed, the Partner-1 is obliged to return to the Partner-2 the sum of €150,000.00 (one hundred fifty thousand) Euro.
  13. 13. If Partner-2 fails to make payments of the charges of 0,X% or of 1X% to Financial Operator as agreed within 5 and 10 banking days, accordingly, after delivery of SWIFT MT760 in bank account of Partner-2, Partner-1 will instruct the issuing bank to put a claim on the SBLC thereby forcing the Beneficiary's bankers to return the SBLC MT760 to the issuing Bank.
  14. 14. The Partner-2, for prolongation of the Bank Guarantee for the next period, is obliged to give an application about prolongation 30 days prior to expiry of the validity of the Bank Guarantee. Cost for every year prolongation is equal to 0,X% from face value of the Guarantee.


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