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sblc procedure

T RANSACTION PROCEDURE 1. Receiver submits Letter Of Intent 2. After dd, Provider will countersign the LOI and return it to Receiver including details of the SBLC Issuing bank, and Provider’ s Passport copy. 3. Both parties open a joint account in HK,Receiver place 50K in the joint account,banking fees charges bear by receiver,after confirmation of 50k is in place,Provider within Two (2) banking days after this agreement being lodged with the banks,The Provider’s bank shall send SWIFT MT799 pre advice , Receiver upon receive MT799, released joint account fund in HK to pay for MT760 swift fees. 4. For Provider’s to proceed for MT 760,Receiver release MT760 swift fees and place 2% face value in the joint account, after confirmation of 2% is place in the joint account, Provider will SWIFT MT760 delivery of the SBLC to the designated receiving bank account coordinates of the BORROWER/RECEIVER . 5.After verified 2% face value is into joint account,Provider to swift MT76

Sblc Procedure

Receiver sends a signed DOA Application to Provider, and also a Six Months Bank Account Statement showing that their company is in good business standing and have a balance of above 1% (1,000,000 to 5,000,000) of the SBLC value (100,000,000 to 500,000,000) of the SBLC They applied for. Provider and Receiver sign the Deed of Agreement, which thereby automatically becomes a full recourse contract after the Provider has accepted Receiver’s application. 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. Provider sends copy of the MT-799 Pre-Advice to the Receiver banking within one banking day, and also sends the Invoice for the 1% and a Refund undertaking confirming that the 1% will be refunded along with a 1% non-performance penalty if the MT760 is not issued within three banking days .   Within Two Banking days of the Receiver confirms receipt and verifies the MT