6/3/16

close procedure min 51m - 500m


1.      Receiver sign the draft Agreement and submits to Provider with Six Months Bank Account Statement showing that they have a balance of above 1% (510,000 to 5,000,000) of the BG/SBLC value (51,000,000 to 500,000,000) of the BG/SBLC They applied for. 

2.      Provider reviews and if acceptable signs which thereby automatically becomes a full recourse commercial contract. Provider returns the final contract to the Receiver.

3.      Within Two banking days after both parties sign the Deed of Agreement and Bank Account Statement is sent; Provider Bank will send MT799 Pre-Advice to Receivers Bank.
  
4.      Provider sends copy of the MT-799 Pre-Advice to the Receiver banking within Twenty Four Hours.

5.      Within Two Banking days of the Receiver confirms receipt of the MT-799, The Receiver Pays 1% (510,000 to 5,000,000) out of 38% Buy fee (or 6% Lease Fee - in case of lease) to the sender’s Nominated bank account and sends the swift payment copy to the Provider.


6.      Within Two Banking days of Provider receiving the 1% charge, Provider Bank shall send the BG/SBLC by MT-760. 

[NOTE: THIS IS NOT UPFRONT SINCE ISSUING BANK IS CONFIRMING RWA AND FULL RESPONSIBILITY] FIRST.


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close procedure min 500m - 1b


1.   Receiver sends to Provider a Letter from his Receiving Bank confirming that the Receiver the Bank to issue (ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL)) on behalf of Receiver. 

2.      Provider and Receiver sign the DOA, which thereby automatically becomes a full recourse contract after the Provider has accepted Receiver’s application.

3. Receiver. issues conditional ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) for 36% of Full Face Value (6% of Full Face Value - In case of Lease) + 2% commission.

4.      Within Three banking days after ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) is confirmed by Providers Bank; Provider Bank will send MT799 Pre-Advice and MT-760.

5.      The Receiver’s bank receives, confirms and verifies the MT760 (BG/SBLC);The Receiver's Bank then releases the ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) for the benefit Provider within two banking days.Provider then pays the respect 1% commission on seller’s side and the 1% commission of Receivers side to the respective brokers/agents.

(Should Receiver default to lease the ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) within two banking days after receipt of Swift MT-760, Provider shall instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Receiver's bankers to return the swift MT-760 (BG/SBLC) to the issuing Bank.)

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5/20/16

LEASE SBLC 7%

Issuance of and Consequences of Non-Acceptance of Credit
The Financial Institution will ordinarily issue the Credit (or arrange for issuance by a Third Party Issuer) within 5 banking days of the Applicant paying all fees and fulfilling all Applicant conditions for the issuance of the Credit set out in this Agreement. The Financial Institution has no control over whether or when the Credit will be received by the Beneficiary Bank and makes no representations or guarantees that the Credit will arrive at the Beneficiary Bank by any specific date.
When payable:
Upon acceptance of the Application and issuing of the Invoice by the Financial Institution
SUISSE BANK PLC

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email: spz.resources@gmail.com