TRANSACTION PROCEDURES:
1. Receiver execute, sign and initial this Deed of Agreement and send this DOA with BANK CAPABILITY
LETTER OR COMPANY LETTER OF UNDERTAKING + LATEST BANK SATEMENT for submission.
( See Appendix)
2. Within two (2) banking days after signing of contract, the Provider Instruct his Bank to issue
RWA Text Secured Email bank to bank and a copy to receiver
3. The Receiver’s Bank upon receiving RWA TEXT SECURED EMAIL BANK TO BANK from Provider, within 48 hours reply with SWIFT MT 799 BLOCK FUND OR MT 103/72 to the Providers designated account with guarantee payment for 35 % or 8% for each tranche face value and 3% for all beneficiaries.
4. Upon receiving the reply MT 799 BLOCK FUND OR Conditional SWIFT MT 103/72, provider will
instruct his issuing Bank to issue SBLC via SWIFT MT760 to the receiver’s coordinate within
5 banking days.
5. Upon confirmation of SWIFT MT760, Receiver within 7 to 10 BANKING days order his bank to release
payment of 35% or 8% of each tranches face value to the Provider’s Account and 3% of
commission by MT 103 to all respective intermediaries or agents Accounts.
6. Upon receive SWIFT MT 103/TT from buyer, within 5 banking days seller bank should deliver SBLC
HARD COPY to buyer’s bank by bank bonded courier.
HARD COPY to buyer’s bank by bank bonded courier.
7. Following tranches shall be as per Tranches Schedule specified in this Agreement .
8. The block fund shall be automatically unblock once the Provider and all beneficiaries receive the fee
Payment which is based on each tranches until the completion of the total contract face value.
#35+3 and 8+3
#35+3 and 8+3
email:spz.resources@gmail.com