- The Project Owner submits compliance package in English.
- Within two (2) banking days upon receipt of a signed compliance package, the Funder issues the Master Project Funding (MPF) Agreement.
- Within two (2) banking days upon receipt of the MPF Agreement, the Project Owner will sign the MPF Agreement and return to the Funder with bank details.
- Within three (3) banking days upon receipt of the signed MPF Agreement, the Funder will countersign the MPF Agreement, then the Funder will return that fully executed Agreement to the Project Owner. This MPF Agreement automatically becomes a full recourse contract.
- Within two (2) banking days upon receipt of the countersigned MPF Agreement, the Project Owner shall send $2,000.00 (Two Thousand USD) payment each Slot to the Funder’s designated bank account for reservation, set up and administrative work. Copy of wire slip will be sent to the Funder via email. $2,000 will not be refunded if the Project Owner fails to perform. note: if Project Owner signs up this program before October 21, 2019, you pay $1,000 Set Up Fee each Slot.
- When the ten slots are all booked, the Funder shall instruct Project Owner to send $15,000.00 (Fiften Thousand USD) each Slot to the Funder’s designated bank account to be used for a portion of BG purchase from a top prime bank as a collateral. Copy of wire slips will be emailed to the Funder.
- Within five (5) banking days upon receipt and verification of $150,000.00 USD fund (all ten slots) in the Funder’s bank account. The Funder will instruct their bank to issue MT799 Bank Payment Undertaking of $150,000 USD to the BG Provider’s bank account via SWIFT.
- Within three (3) banking days upon confirmation, verification and authentication of MT799 Bank Payment Undertaking of $150,000, the BG provider shall instruct their prime bank to issue MT799 Pre-Advice to the Funder’s bank account.
- Within three (3) banking days upon confirmation, verification and authentication of MT799 Pre-Advice, the Funder shall instruct their bank to release $150,000 to the BG Provider’s bank account.
- Within three (3) banking days upon confirmation, verification and authentication of $150,000 payment, the BG Provider shall instruct their bank to issue MT760 BG to the Funder’s bank account.
- Within twenty (20) banking days upon confirmation, verification and authentication of MT760 BG, the Funder shall issue a payment to the BG provider for the BG purchase.
- within three (3) banking days, for each slot, the Funder shall issue a first payment of $750,000.00 (Seven Hundred Fifty Thousand USD) non-repayable funding by Swift MT103 or bank wire transfer to the Project Owner’s nominated bank account as per this agreement.
- Simultaneously, the Funder will pay $50,000.00 USD commission (Fifty Thousand USD) to all the identified agents according to the Fee Protection Agreement attached without delay or withholding, including all rolls and extensions.
- Within ten (10) banking days after the Project Owner receives first payment of $750,000.00 USD, the Funder shall issue a second payment of $750,000.00 (Seven Hundred Fifty Thousand USD) non-repayable funding by Swift MT103 or international bank wire transfer to the Project Owner’s nominated bank account.
- Simultaneously, the Funder will pay $50,000.00 USD commission (Fifty Thousand USD) to all the identified agents according to the Fee Protection Agreement attached without delay or withholding, including all rolls and extensions.
Transaction Procedure. 1. Lessee Submits DOA, LOI, CIS, PASSPORT, Current dated Bank Comfort Letter, Copy of Certificate of Incorporation and Bank Details. 2. Provider will conduct Due Diligence and upon successful Due Diligence the DOA will be signed/counter signed between lessor and the lessee . 3. The Lessor will then send MT799 pre advice. 4. The Lessee’s bank replies with RWA / ICBPO or payment guarantee of 12+3 % and the transmission fees, payable in 5-7 business days after MT760 receipt . 5. The lessor’s Bank will then send the MT760 to Lessee’s bank 6. Lessee’s bank does MT103 wire transfer to Lessor’s designated bank accounts within 5-7 business days after MT760 swift receipt After Successful Due diligence, Lessor countersigns the LOI. The Signed LOI becomes a Legal binding Commercial Contract (agreement) between the parties. Both parties shall lodge the agreement in their respectiv...
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