1. Seller and Buyer execute, sign and initial this Deed of Agreement, which thereby automatically becomes a full recourse contract to be lodged by both parties for initiation of Swift Transmission.
2. Within three banking days after both parties sign the Agreement, After the Due Diligence and DOA signed by both side the issuing bank account officer will issue RWA letter directly to your receiving bank account officer to confirm the authentic of the Swift and Transaction.
3. Within three working days after the Buyer receives RWA letter, The Buyer will make payment by direct wire transfer into the Seller's provided bank co-ordinates for the receiving of the bank transmission/administrative charges for the Pre-Advice via Swift MT799 or SBLC via Swift MT760 or both as the case maybe in the amount of Euro/USD XX 000.00.
4. Within two banking days after confirmation of receipt of payment of the bank transmission/administrative fees charges for the SBLC via Swift MT760 or Pre-Advice via Swift MT799 or both in Seller’s bank account, the Seller will deliver the Pre-Advice or SBLC via Bank to Bank confirmation of Swift MT799 or MT760 to the Buyer’s bank including the hard copy of the SBLC via bank bonded courier in Seven banking days.
5 Buyer sends out Buying fees by Swift MT103 to the Buyer deducting the initially paid bank transmission/administrative fees and the brokers their commission fees 32%+2 % of total Face Value by wire transfer within thirty days upon delivery, confirmation and verification of SBLC by MT760 in the Buyer’s nominated account and SBLC hard copy in the Lessee’s nominated bank.
6. Should the Buyer not deduct the bank transmission/administrative charges from buying fees paid, the Buyer shall refund bank charges to Buyer by direct wire transfer within three banking days upon payment of the Buying fees.
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