TRANSACTION PROCEDURES:
LESSEE sends filled DOA along with full information including Client’s Information Sheet (CIS), Signatory’s Passport Copy, Corporate Registration.
Upon receiving all documents from LESSEE/receiver, LESSOR/provider conducts DD and countersigns the Deed of Agreement, which thereby automatically becomes a full recourse commercial contract.
Within Two banking days after contract signing, LESSEE’s Bank will issue Bank POF/ RWA via Swift MT 199 showing LESSEE‘s capacity to proceed, and sends copy of 199 POF/ RWA to provider for referrence. (LESSEE SHOULD PROVIDE 199 POF/ RWA veribage for approval from provvide before swift.)
Within Two banking days after POF/RWA reception and verification, LESSOR’s bank issues Pre-Advice via MT799 (as per Exhibit A) to the Receiving bank, LESSOR will send its Scan Copy to LESSEE’s E-MAIL.
On receipt of SWIFT MT799 pre-advice, the LESSEE’s Bank sends SWIFT MT-799 BPU (Bank Payment Undertaking – Exhibit B) to LESSOR’s nominated banks as a payment guarantee for the total amount of 13% of the face value of the SBLC as agreed in this Agreement.
Within 3 (THREE) banking days after receipt and confirmation of the SWIFT MT799 BPU, LESSOR’s bank issues SWIFT MT760 SBLC (as per Exhibit C) and sends Copy to LESSEE’s E-MAIL.
Within 2 (TWO) banking days upon successful receipt and authentication of the SWIFT MT760 SBLC, LESSEE’s bank proceed with the agreed lease payment of 10% + 3% of the SBLC face value to the nominated bank account via SWIFT MT103.
Should LESSEE fails to pay the agreed payments within allowed time stipulated in the agreement after confirmation of SBLC in LESSEE’s bank account, LESSOR will instruct the issuing bank to put a claim on the bank instrument thereby forcing the LESSEE’s bank to return the bank instrument SBLC to the issuing bank.
Transaction is to continue as per agreed tranche schedule. Any unauthorized bank calls, Probes or communications, or an improper solicitation or disclosure involving any of the banks concerned in this transaction will result in immediate cancellation of this transaction and subject the violating party to damages.
Swift only. It is hereby agreed that considerate of we are not working on Swift.net or Swift.com or any other systems or screens, except normal regular SWIFT MT Message that has been successful received by receiving bank coordinate, this Swift system is used for daily international trade by all banks. We understand that on the basis of receiving bank received authenticated and confirmed Swift Message shall prevail, sending bank’s scan copy is for notification only.
NO COMMUNICATION IS TO BE MADE TO EITHER BANKS BY ANY PARTY DIRECTLY OR INDIRECTLY. SUCH AN ACT WILL BE CONSIDERED A CRIMINAL OFFENCE. ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS IN AN IMPROPER WAY TO THE BANK (S) IN THIS TRANSACTION SHALL BE CAUSE FOR IMMEDIATE TERMINATION OF THIS AGREEMENT AND APPROPRIATE ACTION FILED AGAINST THE OFFENDING PARTY.
Regards
B.S.BHANDARI
+91 8652524533 call-WhatsApp-instagram-viber-imo
Email: bigbondb@gmail.com
Skype: bhandari777
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