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BANK INSTRUMENTS Buyer and Importer from Greece - Buying Lead

03 Mar, 2024

BANK INSTRUMENTS

PROCEDURES: 1. BUYER SUBMITS LOI TOGETHER WITH COMPLIANCE DOCUMENTS : CLIENT INFORMATION SHEET NON-SOLICITATION OF FUNDS RESOLUTION OF THE BOARD OF DIRECTORS IRREVOCABLE FEE PROTECTION AGREEMENT COVERING ALL IDENTIFIED BENEFICIARIES FOR BOTH SIDES CLEAR COLOUR COPY OF THE BUYER SIGNATORY’S PASSPORT CERTIFICATE OF INCORPORATION B Show More...

PROCEDURES: 1. BUYER SUBMITS LOI TOGETHER WITH COMPLIANCE DOCUMENTS : CLIENT INFORMATION SHEET NON-SOLICITATION OF FUNDS RESOLUTION OF THE BOARD OF DIRECTORS IRREVOCABLE FEE PROTECTION AGREEMENT COVERING ALL IDENTIFIED BENEFICIARIES FOR BOTH SIDES CLEAR COLOUR COPY OF THE BUYER SIGNATORY’S PASSPORT CERTIFICATE OF INCORPORATION BANK STATEMENT OR BANK CONFIRMATION LETTER (BCL) AND (ATV) 2. WITHIN 3 BANKING DAYS SELLER’S COMPLIANCE OFFICER WILL CONDUCT VERIFICATION OF THE FUND (BCL) IN ACCORDANCE WITH THE ATV DOCUMENT ATTACHED HEREIN. 3. AFTER SUCCESSFUL VERIFICATION OF BUYER AND FUNDS, THE SELLER COUNTERSIGNS THE LOI AND BOTH PARTIES SHALL LODGE THE LOI PACKAGE ON THEIR RESPECTIVE BANKS. THE SIGNED LOI BECOMES A LEGALLY BINDING CONTRACT (DEED OF AGREEMENT) BETWEEN THE PARTIES. 4. WITHIN 3 BANKING DAYS PROVIDER'S BANK WILL ISSUE MT199 RWA REQUESTING FOR BUYER'S BANK TO ISSUE BANK PAYMENT UNDERTAKING (BPU) VIA SWIFT MT799. 5. WITHIN 3 BANKING DAYS OF RECIPE OF PROVIDER’S MT199, BUYER'S BANK SHALL ISSUE MT799 BANK PAYMENT UNDERTAKING (BPU). BUYER SHALL EMAIL COURTESY COPY OF THE MT799 BPU TO THE SELLER FOR CONFIRMATION. 6. WITHIN 3 BANKING DAYS OF RECEIPT AND AUTHENTICATION OF BUYER’S MT799 BPU, PROVIDER SHALL ISSUE MT799 PRE-ADVICE OR GO DIRECTLY TO MT760 (AS AGREED UPON BY PRINCIPALS). SELLER SHALL EMAIL CURTESY COPY OF THE PRE-ADVICE TO THE BUYER FOR CONFIRMATION. 7. WITHIN FIVE (5) BANKING DAYS OF RECEIVING THE INSTRUMENT BY SWIFT MT760 THE BUYER’S BANK WILL PAY THE FULL COST OF THE INSTRUMENT, BY SWIFT MT103, SAME DAY VALUE (35%) AND CONCURRENTLY PAY CONSULTNTS COMMISSION FEES OF TWO PER CENT (2%) OF EACH TRANCHE FACE VALUE. COURTESY COPIES OF THE COMMISSION PAYMENTS SHALL BE SENT TO THE RESPECTIVE CONSULTANTS BENEFICIARIES AND THEIR PAYMASTERS. 8. THE HARD COPIES OF THE TO BE DELIVERED VIA BANK BONDED COURIER TO THE BUYER’S BANK WITHIN SEVEN (7) BANKING DAYS AFTER RECEIPT OF THE FULL PAYMENT BY SELLER’S BANK. 9. ALL SUBSEQUENT TRANCHES WILL BE BASED ON THE SAME PROCEDURE, UNTIL THE AGREED AMOUNT OF THE CONTRACT WILL BE COMPLETED, OR THE COLLATERAL OR FUNDS BECOME EXHAUSTED. 10. Any Unauthorized Bank Calls or to third any party, Probes Or Communications, Or An Improper Solicitation Or Disclosure Involving Any Of The Banks or third party Concerned In This Transaction Will Result Immediate Cancellation Of This Transaction And Subject The Violating Party To Damages.

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