Transaction Procedure

TRANSACTION PROCEDURE:

1.  Receiver submits Letter Of Intent (LOI) with full banking coordinates (there must be sufficient cash funds in this account), Colour copy of Passport , Client Information Sheet , Certificate of Incorporation (if applicable), Corporate Resolution (if applicable), Non-Solicitation Statement, Irrevocable Fee Protection Agreement.

2.  After conducting due diligence, the Issuer will countersign & seal the LOI and return it to Receiver with the Issuer’s full banking coordinates.

3. Within 24 hours of receiving the signed contract, the Receiver shall instruct the receiving bank to issue PAYMENT UNDERTAKING via MT 799 to the Issuer’s Issuing bank for verification. (As per Appendix A)

4. Within 72 hours banking days upon verification of the PAYMENT UNDERTAKING MT799 on bank to bank basis, Issuer will instruct the issuing bank to issue and deliver the Bank Guarantee by MT760 to Receiver’s designated bank for verification and authentication. (As per Appendix B)

5. Within 3 banking days upon verification and authentication and validation of the Bank Guarantee on bank to bank basis, Receiver bank will effect payment of issuing fee of XX% and 2% consultant fee to their respective bank accounts as agreed herewith via MT103 Wire Transfer.

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