Transaction Procedures RECEIVER EXECUTE, SIGN AND INITIAL THIS DEED OF AGREEMENT (MOU). WITHIN 2 (TWO) BANKING DAYS AFTER SIGNING OF CONTRACT, THE PROVIDER BANK SENDS SOFT COPY OF THE BANK DRAFT AND CONFIRMATION LETTER TO RECEIVER BANK. BANK OFFICER’S MAIL TO BANK OFFICER’S MAIL. WITHIN 2 (TWO) BANKING DAYS AFTER VERIFICATION OF SOFT COPY, RECEIVER BANK WILL ISSUE AN UNDERTAKING PAYMENT MT799 IN FAVOUR OF THE PROVIDER. UPON RECEIPT OF THE UNDERTAKING PAYMENT, PROVIDER SHALL CONFIRM IT BY MT110 SWIFT TO RECEIVER BANK AFTER CONFIRMATION OF MT110, WITHIN 2 BANKING DAYS RECEIVER INSTRUCTS HIS BANK TO RELEASE THE TOTAL PAYMENT OF 40% OF THE TOTAL VALUE OF THE BANK DRAFT) MUST BE ADVANSED TO PROVIDER THEIR PROVIDED/NOMINATED BANK ACCOUNT VIA SWIFT ...
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