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.)
email: spz.resources@gmail.com
skype: kem5969
email: spz.resources@gmail.com
skype: kem5969
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