Transaction Procedure:
1. Buyer issues a full intake package in English duly completed ( specially the informations required in the banking details) in all respects and signed with buyer’s full banking co-ordinates to include:
1.1 Client Information Sheet (CIS)
1.2 Corporate Resolution (CR)
1.3 Non-Solicitation Statement (NS)
1.4 Non-Circumvention and Non-Disclosure Agreement (NCND)
1.5 Irrevocable Master Fee Protection Agreement (IMFPA)
1.6 Lessee Signatory and Color Copy of Passport
1.8 Lessee Certificate of Incorporation (COI)
2. Seller and Buyer execute, sign and initial this Deed of
Agreement which thereby automatically becomes a full recourse contract.
3. After signing the agreement and simultaneously or latest within 2 banking days with the return of the agreement by the buyer, The seller bank will verify the banking information to the buyer’s bank. If the seller’s get correct information sends SWIFT MT799 PRE-ADVICE RWA (Readiness Willing & Able ) via SWIFT to buyer’s bank ACKNOWLEDGING CAPACITY TO DELIVER BG
VIA MT760 to buyer’s bank, the lessee bank send a MT799 to confirm to be Ready, willing and able to receive the bank instrument.
4. Seller will issue & deliver the SWIFT MT760 BANK GUARANTEE to buyer’s bank for authentication & verification of the Bank Guarantee in favor of Buyer.
5. Within 3 banking days of confirmation and verification of the seller's swift MT760, full payment is released to the seller, after receipt,confirmation and authentication of the buyer’s BG MT760.
6. Within 5 banking days after confirmation of receipt of payment of the purchase fees, the seller will deliver the hard copy of the BG MT760 to the seller's bank via bank bonded courier.
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