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Sblc Procedure


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.
 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
email:spz.resources@gmail.com

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