Judged:
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We have direct provider for fresh cut Bank Guarantees (BG/SBLC) for
Lease from Top European Banks at 6+2
Procedures:
1. Receiver will issue an authorization to the favor of the Provider; authorized
him to draw the Sum of 8% 5 banking days after the verification
&authentication of the SWIF MT760.
2. After both sides sign the contract, within 3 banking days, Provider’s bank
will sendMT-199/799 to receiver’s bank to verify the authorization received
from the receiver, receiver’s bank reply MT-199/799 to confirm the
authorization received from the Borrower to the favor of the Provider and the
receiver’s capability to receive the said BG and able to complete the transaction
which can be verified by the Provider.
3. Within three (3) banking days upon successful verification of receiver’s
capability to receive the said BG, Provider’s bank will deliver the Bank
Guarantee via SwiftMT-760 to receiver’s designated receiving bank
coordinates.
4. Upon successful verification and authentication of the Swift MT-760 of the
BG, the receiver’s bank will transfer the agreed Sum within five (5) banking
days via Swift to pay the required 8%.
5. Within seven (7) banking days after receiving the funds, the issuing bank
sends the original hard copy of the BG to receiver’s bank by bank-bonded
courier.
6. Any unauthorized calls by any party or its representative lawyers to probes
or communication in an improper way to bank(s) in this transaction shall be
prohibited.
7. This Letter of Intent is a full recourse commercial commitment governed by
the Law of the jurisdiction that both parties reside. This LOI is also governed by
the standard under ICC Regulation. Both parties confirm that each is fully
empowered, legally qualified and duly
authorized to execute and deliver this document, and to be bound by its terms
and conditions.