(SOME SORT OF SUPPORTING OR RECOMMENDATION LETTER IS  REQUIRED FROM CLIENT BANK ASSURING ISSUANCE OF SOME COLLATERAL OF PN OR ICBPO OR BLOCKFUNDS MT799 FOR PAYMENT OF BG COST AFTER RECEIPT OF MT760 BG/SBLC. NO LOI WILL BE ACCEPTABLE WITHOUT A BANK SUPPORTING LETTER OR BCL OR BANK BALANCE STATEMENT.)

Description of Instrument:

 

1. Instrument:  BG, SBLC, FRESH CUT (FC), 100% CASH-BACKED, ON ICC STANDARD FORMAT LIKE ICC458 OR ICC758 OR ICC600

2 (A). MinimumFace Value:: 1 (One) Million to xxxxxxxx in First Tranche with a BlockFunds MT799 or ICBPO required AND up to 50 Billion USD/Euro  in Tranches of 500 Million  USD/Euro each.

with a Bank Endorsed Client Promissioy Note (Appendix D) required to sent by MT799 or MT199.

2. (B). Total Contract Amount XXXXXXXX Million Euro/Dollar; Euro/$X,000,000,000

Current Contract Amout: XXXXXXXX Million Euro/Dollar; Euro/$X,000,000,000

1st Trnache: XXXXXXXX Million Euro/Dollar; Euro/$xxx,000,000,

2nd Tranche: xxxxxxxx Million Euro/Dollar; Euro/$xxxx,000,000,

2 (C). Beneficiary:

3. Issuing Banks: Credit Suisse, Geneva, Barclays Bank, London, HSBC Bank, Germany,  London, Duetsch  Bank, Zurich, and JP MORGAN CHASE BANK, LONDON;

(Please choose any one of these 5 Banks, if necessary. Otherwise, we will choose for you.)

4. Age:  One Year and One Day

5. Leasing Price:9%+ 3% commission, making it 12% of the BG Face Value

6. Delivery: {Bank-To-Bank Swift}

7. Payment: MT103

8. Hard Copy: Bonded Courier Service {within three banking days}

 

 

TRANSACTION PROCEDURES

 

1) 

(A) LESSEE SUBMITS TO LESSOR THISSIGNED AGREEMENT,TOGETHER WITH CLIENT INFORMATION SHEET,CORPORATE BOARD RESOLUTION, NON-SOLICITATION LETTER, SIGNATORY'S PASSPORT COPY, CORPORATE REGISTRATIONANDTHEIRREVOCABLE MASTER FEE PROTECTION AGREEMENT. 

CLIENT SENDS HIS BANK CONDITIONAL RWA LETTER TO ISSUE PROMISSORY NOTE AS PER OUR ATTACHED ( Please see Appendix (D).

 

2)

AFTER COMPLETING DUE DILIGENCE, LESSOR COUNTERSIGNS THIS AGREEMENT AND IT THUS BECOMES A FULL RECOURSE COMMERCIAL CONTRACT AND RETURNS IT TO LESSEE, ALONG WITH LESSOR’SFULL BANKING COORDINATES.

 

3)

WITHIN THREE (3) BANKING DAYS AFTER SIGNING AND LODGING OF THIS AGREEMENT, LESSEE SHALL ISSUE BANK-ISSUED PROMISSARY NOTE (Applicable APPENDIX D) TO LESSOR’S DESIGNATED RECEIVING BANK THROUGH MT799. THIS PROMISSORY NOTE IS TO BE SENT TO LESSOR’S RECEIVING BANK THROUGH MT799 OR MT 199.

©CLIENT VERBIAGES OF MT799 BLOCKFUNDS OR ICBPO OR PROMISSORY NOTE ARE NOT ACCEPTABLE. ONLY OUR VERBIAGES AS GIVEN IN IN VARIOUS APPENDICES OF THIS DOA WILL BE ACCEPTABLE.

(D) ANY ONE OF ALL THESE PAYMENT DOCUMENTS, ICBPO, OR BLOCKFUND POF, OR PROMISSORY NOTE HAVE TO BE SENT BY MT799 FOR 60 OR 90 DAYS VALIDITY, BUT VALIDITY WILL AUTOMATICALLY EXPIRE AT THE COMPLETION OF THE TRANSACTION, I.E. BY THE PAYMENT OF THE BG/SBLC COST. MOREOVER, THEY WILL ALL EXPIRE AUTOMATICALLY IF MT799 PRE-ADVICE BY THE ISSUING BANK IS NOT SENT WITHIN 7 OR 10 BANKING DAYS.

 

 

4)

 

 

WITHIN THREE (3) BANKING DAYS AFTER RECEIPT AND CONFIRMATION OF THE PROMISSARY NOTE (AS PER APPENDIX D)VIA MT-799LESSOR SHALL ISSUE A PRE-ADVICE VIA SWIFT MT-799 (AS PER "APPENDIX B").

 

5)

WITHIN THREE (3) BANKING DAYS OF RECEIPTOF THE CONFIRMATION OF THE ABOVE MT-799 PRE-ADVICE, LESSOR’S ISSUING BANK THEN ISSUES THE BANK GUARANTEE (BG) VIA SWIFT MT-760 (AS PER "APPENDIX C") TO LESSEES DESIGNATED BANK RECEIVING ACCOUNT. LESSOR SHALL PROVIDE A SCANNED COLOR COPY OF SAID MT-760 TO LESSEE’S EMAIL ADDRESS FOR TRACING.

 

6)

WITHIN FIVE (5) BANKING DAYS AFTER CONFIRMATION OF THE ABOVEMT-760BANK GUARANTEE (BG), LESSEE'SPAYING BANK SHALL RELEASE THE AGREED FUNDS TO LESSOR’S DESIGNATED BANK ACCOUNT, AND SIMULTANEOUSLY LESSEE PAYS DIRECTLY WIRE TRANSFER THROUGH THE RELEASE FUND OF MT-103 WITH THE CONSULTING FEES PER EACH FINANCING TO THE CONSULTANTS AS PER THE RELEVANT IRREVOCABLE MASTER FEE PROTECTION AGREEMENT.

AFTER THESE PAYMENTS OF BG COST THIS TRANSACTION WILL BE TREATED AS COMPLETED AND THE VALIDITY OF THE PROMISSORY NOTE WILL AUTOMATICALLY EXPIRE.

 

7)

WITHIN SEVEN (7) BANKING DAYS OF RECEIPT OF AGREED PAYMENTS, LESSOR’S BANK SHALL SEND THE BG HARD COPY ORIGINAL TO LESSEE’S DESIGNATED BANK RECEIVING ACCOUNT BY BANKBONDED COURIER.

 

 

8)

ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS, OR AN IMPROPER SOLICITATION ORDISCLOSURE INVOLVING ANY OF THE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IN IMMEDIATE CANCELLATION OF THIS TRANSACTION AND SUBJECT THE VIOLATING PARTY TO DAMAGES.

 

 

 

SWIFT INPUT: MT 799

PROMISSORY NOTE SWIFT MT799

 

DATE OF ISSUE:                XXXX / XX / XX

MATURITY:              90 DAYS FROM THE DATE OF ISSUE

VALIDITY:                VALIDATION IS ALWAYS 90 DAYS or UNTIL THE TRANSACTION IS COMPLETED.                         

SENDING BANK:   

BANK ADDRESS:   

RECEIVING BANK NAME:

ADDRESS:

ACCOUNT NAME

ACCOUNT NUMBER:

IBAN :

SWIFT CODE

BANK OFFICER NAME

TEL / FAX

EMAIL

PERIOD OF ISSUE   : NINETY (90) DAYS

CURRENCY         : EURO / USD

AMOUNT  :

BENEFICIARY     :   XXXXXXXXXXXX

REFERENCE: CONTRACT WITH TRANSACTION CODE:

 

FOR VALUE RECEIVED, WE …………(BANK NAME HERE)……., WITH ITS OFFICE LOCATED AT... (OFFICE)…. …………………., WITHOUT PROTEST AND NOTIFICATION, HEREBY IRREVOCABLY AND UNCONDITIONALLY UNDERTAKE TO PAY TO THE ORDER OF: (BENEFICIARY NAME HERE) WITH ITS OFFICE LOCATED AT XXXXXXXXXXX , AT MATURITY, THE SUM OF XXXXXXX XXXXXXX XXXXXX XXXXXXX EURO (EURO €00,000,000.00) IN THE LAWFUL EUROPEAN CURRENCY.  SUCH PAYMENT SHALL BE MADE AT OUR OFFICES OR WIRE TRANSFER WITHOUT DELAY, PROTEST SET-OFF AND CLEAR OF ANY DEDUCTION OR CHARGES, FEES OR WITHHOLDING OF ANY NATURE NOW OR THEREAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR ASSESSED

SUCH PAYMENT SHALL BE MADE AT OUR OFFICES OR WIRE TRANSFER WITHOUT DELAY, PROTEST SET-OFF AND CLEAR OF ANY DEDUCTION OR CHARGES, FEES OR WITHHOLDING OF ANY NATURE NOW OR THEREAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR ASSESSED BY ANY LEGAL ENTITY. 

THIS PROMISSORY NOTE IS ASSIGNABLE, DIVISIBLE AND TRANSFERABLE AND SHALL BE GOVERNED AND CONSTRUCTED IN ACCORDANCE WITH THE LAWS OF SWITZERLAND …..TH OF .............. 2015..  

FOR AND BEHALF OF XXXXXXXXXXXXXX.

BANK OFFICER NAME                                                   BANK OFFICER NAME 

TITLE,                                                                                                   TITLE,

PIN NO.                                                                                                 PIN NO.                                 

Description of Instrument:

 

1. Instrument:  BG, SBLC, FRESH CUT (FC), 100% CASH-BACKED, ON ICC STANDARD FORMAT LIKE ICC458 OR ICC758 OR ICC600

2 (A). MinimumFace Value:: 1 (One) Million to xxxxxxxx in First Tranche with a BlockFunds MT799 or ICBPO required AND up to 50 Billion USD/Euro  in Tranches of 500 Million  USD/Euro each.

with a Bank Endorsed Client Promissioy Note (Appendix D) required to sent by MT799 or MT199.

2. (B). Total Contract Amount XXXXXXXX Million Euro/Dollar; Euro/$X,000,000,000

Current Contract Amout: XXXXXXXX Million Euro/Dollar; Euro/$X,000,000,000

1st Trnache: XXXXXXXX Million Euro/Dollar; Euro/$xxx,000,000,

2nd Tranche: xxxxxxxx Million Euro/Dollar; Euro/$xxxx,000,000,

2 (C). Beneficiary:

3. Issuing Bank: Credit Suisse, Geneva, Barclays Bank, London, HSBC Bank London,  , Duetsch  Bank, Frankfurt and other AA Rated Banks.

4. Age:  One Year and One Day

5. Leasing Price:9%+ 3% commission, making it 12% of the BG Face Value

6. Delivery: {Bank-To-Bank Swift}

7. Payment: MT103

8. Hard Copy: Bonded Courier Service {within three banking days} 

TRANSACTION PROCEDURES

1) 

(A) LESSEE SUBMITS TO LESSOR THISSIGNED AGREEMENT,TOGETHER WITH CLIENT INFORMATION SHEET,CORPORATE BOARD RESOLUTION, NON-SOLICITATION LETTER, SIGNATORY'S PASSPORT COPY, CORPORATE REGISTRATIONANDTHEIRREVOCABLE MASTER FEE PROTECTION AGREEMENT. 

CLIENT SENDS HIS BANK CONDITIONAL RWA LETTER TO ISSUE PROMISSORY NOTE AS PER OUR ATTACHED ( Please see Appendix (D).

2)

AFTER COMPLETING DUE DILIGENCE, LESSOR COUNTERSIGNS THIS AGREEMENT AND IT THUS BECOMES A FULL RECOURSE COMMERCIAL CONTRACT AND RETURNS IT TO LESSEE, ALONG WITH LESSOR’SFULL BANKING COORDINATES.

3)

WITHIN THREE (3) BANKING DAYS AFTER SIGNING AND LODGING OF THIS AGREEMENT, LESSEE SHALL ISSUE BANK-ISSUED PROMISSARY NOTE (Applicable APPENDIX D) TO LESSOR’S DESIGNATED RECEIVING BANK THROUGH MT799. THIS PROMISSORY NOTE IS TO BE SENT TO LESSOR’S RECEIVING BANK THROUGH MT799 OR MT 199.

4) 

WITHIN THREE (3) BANKING DAYS AFTER RECEIPT AND CONFIRMATION OF THE PROMISSARY NOTE (AS PER APPENDIX D)VIA MT-799LESSOR SHALL ISSUE A PRE-ADVICE VIA SWIFT MT-799 (AS PER "APPENDIX B").

5)

WITHIN THREE (3) BANKING DAYS OF RECEIPTOF THE CONFIRMATION OF THE ABOVE MT-799 PRE-ADVICE, LESSOR’S ISSUING BANK THEN ISSUES THE BANK GUARANTEE (BG) VIA SWIFT MT-760 (AS PER "APPENDIX C") TO LESSEES DESIGNATED BANK RECEIVING ACCOUNT. LESSOR SHALL PROVIDE A SCANNED COLOR COPY OF SAID MT-760 TO LESSEE’S EMAIL ADDRESS FOR TRACING.

6)

WITHIN FIVE (5) BANKING DAYS AFTER CONFIRMATION OF THE ABOVEMT-760BANK GUARANTEE (BG), LESSEE'SPAYING BANK SHALL RELEASE THE AGREED FUNDS TO LESSOR’S DESIGNATED BANK ACCOUNT, AND SIMULTANEOUSLY LESSEE PAYS DIRECTLY WIRE TRANSFER THROUGH THE RELEASE FUND OF MT-103 WITH THE CONSULTING FEES PER EACH FINANCING TO THE CONSULTANTS AS PER THE RELEVANT IRREVOCABLE MASTER FEE PROTECTION AGREEMENT.

AFTER THESE PAYMENTS OF BG COST THIS TRANSACTION WILL BE TREATED AS COMPLETED AND THE VALIDITY OF THE PROMISSORY NOTE WILL AUTOMATICALLY EXPIRE.

7)

WITHIN SEVEN (7) BANKING DAYS OF RECEIPT OF AGREED PAYMENTS, LESSOR’S BANK SHALL SEND THE BG HARD COPY ORIGINAL TO LESSEE’S DESIGNATED BANK RECEIVING ACCOUNT BY BANKBONDED COURIER.

8)

ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS, OR AN IMPROPER SOLICITATION ORDISCLOSURE INVOLVING ANY OF THE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IN IMMEDIATE CANCELLATION OF THIS TRANSACTION AND SUBJECT THE VIOLATING PARTY TO DAMAGES.

EXPLANATION OF SENDING PRE-ADVICE FROM TOP BG-ISSUING BANK AGAINST COLLATERAL OF PROMISSORY NOTE PAYABLE AFTER 30 DAYS

 

We want client to issue Promissory Note payable after 30 days since the date of its issue for the BG.

Cost of Lease BG is (9+3) =12%,

Cost of Purchase BG is (52 + 3) =55%.

The validity of the promissory note will be for 90 days or till the completion of the Transaction, which usually finishes much before 30 days.

It is not used for payment after 30 days.

It is kept just as Collateral to send Pre-Advice and BG MT760.

After receiving the Promissory Note, we send Pre-Advice from any of Top 10 Banks of the world followed by MT760.

A clause in the Promissory Note says,

“THIS PN IS VALID FOR 90 DAYS FROM THE DATE OF ISSUE BUT IT WILL EXPIRE UPON THE COMPLETION OF THE TRANSACTION, I.E. FULL PAYMENT OF BG/SBLC COST. IT WILL ALSO EXPIRE AUTOMATICALLY IF MT799 PRE-ADVICE FOLLOWED BY MT760 IS NOT ISSUED BY THE LESSOR WITHIN 15 DAYS OF THE RECEIPT OF THIS PROMISSORY NOTE THROUGH MT799 FROM THE LESSEE BANK

Client is allowed to pay CASH by MT103 our BG cost (mentioned above)

within 3 to 5 days after receiving BG or SBLC MT760 from Top BG-Issuing Bank arranged by us.

Thus Transaction is finished and the validity of Promissory Note will automatically expire much before 30 days in this way.

It remains with us only as Collateral until the client pays our BG cost.

 

PROMISSORY NOTE PROCEDURE

First send LOI with client bank RWA that it is prepared to issue PN and send PN draft filling your particulars.

We send you countersigned contract, and then in that PN draft we will write our side of bank particulars etc.

Then you send the final draft with banker sign and signature for our final approval.

If it is approved by us, then send it through swift MT799 to our designated bank. Thereafter we will send you MT799 Pre-Advice followed by MT760 BG or SBLC.

 

CONDITIONAL RWA FROM CLIENT BANK

TO ENDORSE PROMISSARY NOTE

AND TO SEND IT THROUGH SWIFT MT799

(ON BANK LETTERHEAD) 

WE ARE READY, WILLING AND ABLE TO ENDORSE A PROMISSORY NOTE AS PER VERBIAGE GIVEN IN THE APPENDIX (D)BELOW AND TO SEND IT THROUGH SWIFT 799 TO PROVIDER BANK ON THE REQUEST OF OURCLIENT AFTER THE RECEIPT OF COUNTERSIGNED DEED OF AGREEMENT (DOA) FROM THE PROVIDER.

 

(NAME AND ADDRESS OF THE CLIENT)

 

 

CLIENT SIGNATURE AND STAMP). 

 

BANK OFFICER 1                                                                                                                                                                  BANK OFFICER 2

 

(BANK STAMP

 

APPENDIX (D)

PROMISSORY NOTE VERBIAGE  MT799 / MT760

 

PLACE OF ISSUE: …………., 

DATE OF ISSUE   : 

MATURITY            : …………. 2014(Payable after 30 days from the date of        its Issuance)

INTEREST            : Zero

CURRENCY          : DOLLAR/EURO

AMOUNT              : XXXXXXX….(MINIMUM 1 MILLION TO 50 BILLION)

DELIVERY           : THROUGH SWIFT MT799

VALIDITY             : THIS PN IS VALID FOR 90 DAYS FROM THE DATE OF ISSUE BUT IT WILL EXPIRE UPON THE COMPLETION OF THE TRANSACTION, I.E. FULL PAYMENT OF BG/SBLC COST. IT WILL ALSO EXPIRE AUTOMATICALLY IF MT799 PRE-ADVICE FOLLOWED BY MT760 IS NOT ISSUED BY THE LESSOR WITHIN 15 DAYS OF THE RECEIPT OF THIS PROMISSORY NOTE THROUGH MT799 FROM THE LESSEE BANK.

 BENEFICIARY      :                        

ISSUE PURPOSE  : 

CONTRACT WITH TRANSACTION CODE: XXXXXXXXXXXXXXXXXXXX

 

FOR VALUE RECEIVED, we, Bank …………., with its office located at... Office…., …………………., 

Without protest and notification, hereby irrevocably and unconditionally undertake to pay to the order of:

________________________________, with its office located at: ________________________

Represented by _____________________ holder of XXXXX passport Number XXXXXX, at maturity, the sum of XXXXXX Million DOLLAR/Euro ($/€…XXXXX) in the lawful currency of the European Union.

Such payment shall be made at our offices or wire transfer without delay, protest set-off and clear of any deduction or charges, fees or withholding of any nature now or thereafter imposed, levied, collected, withheld or assessed by any legal entity.

This Promissory Note is assignable, divisible and transferable and shall be governed and constructed in accordance with the laws of Switzerland …..th of December, 2013.

 

For and Behalf of 

........................ 

 

_______________________                                     _________________________

……….., Bank Officer 1                                          ………….., Bank Officer

Please note that we can issue MT799 Pre-Advice only against your Collateral first.  You have to issue it after we send you our Countersigned contract indicating which of the TOP 10 Banks of the world will issue your required BG or SBLC. We can arrange MT799 Pre-Advice from that Top Bank, if you first send us your Collateral first. Your collateral can be any of the 3 choices. Either send us Escrow Deposit, or swift us MT799 BlockFunds or issue a Promissory Note, whose detailed explanation is given below:

 

EXPLANATION OF SENDING PRE-ADVICE

 FROM TOP BG-ISSUING BANK

AGAINST COLLATERAL OF PROMISSORY NOTE

 PAYABLE AFTER 30 DAYS

 

We want client to issue Promissory Note payable after 30 days since the date of its issue for the BG cost (9+3) =12% in case of Lease or (52 + 3)=55% in case of BG Purchase.

 

But its Validity will be till the end of the Transaction, which usually finishes much before 30 days.  It is not used for payment after 30 days. It is kept just as Collateral to send Pre-Advice and BG MT760.

 

After receiving PN, we send Pre-Advice from any of Top 10 Banks of the world followed by MT760.

 

Client is allowed to pay CASH by MT103 our BG cost (9+3) =12% in case of Lease or (52 + 3)=55% in case of BG Purchase within 3 to 5 days after receiving BG or SBLC  MT760 from Top BG-Issuing Bank arranged by us.

 

Thus Transaction is finished and the Validity of PN will automatically expire much before 30 days in this way. It remains with us only as a Collateral until the client pays our BG cost.