Procedure SBLC
1. Provider and Receiver sign the Deed of Agreement, which thereby automatically becomes a full recourse contract after the Provider has accepted Receiver’s application. 2. Within Two banking days after both parties sign the Deed of Agreement, Provider submits the Deed of Agreement to his bank, Provider also sends a copy of the signed Deed of Agreement, Invoice, Refund undertaking letter to Receiver. 3. Within Two Banking days of receiving copies of the final Deed of Agreement, Invoice and Refund undertaking, Receiver pays the Liquidation and bank auditors handling charges and sends the transfer confirmation copy to Provider for his confirmation. 4. Within Three banking days after confirmation of the Liquidation and auditors bank handling charges , Providers Bank sends the swift MT799, the MT760 will also be sent the same day 5. Provider sends copies of the swift MT799 and MT760 to Receivers for confirmation, Providers Bank sends Hard copy of B
