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Terms and Conditions

Basic Terms and Conditions of the Contract

 

 

The Lessee desires to lease Bank Guarantee (BG/SBLC) from the Lessor. Lessee confirmss with full corporate and legal responsibility that funds available to fulfill the requirements for the lease of this instrument is ready and Lessee further confirm to cooperate with the Lessor.

The Lessor desires to lease, transfer and assign all rights title and interest of the BG/SBLC available to it to the Lessee. Lessor represents and warrants that it has the ability and resource to arrange through associates, contracts and sources, with full corporate responsibility, financial instrument in the term of assignments to be provided to Lessee. Lessor hereby declares under penalty of perjury that the BG/SBLC will be backed by funds that are good, clean, clear, and free of non-criminal origin, the BG/SBLC will be free and clear of all liens, encumbrances and third party interests.

 

The Lessee agrees to lease the BG/SBLC at X.0% of Face Value (Depending on the amount of face value) for the instrument requested and Lessor has agreed to issue BG/SBLC for lease and both Parties hereby agree to the transaction in line with the Transaction Description.

 

TRANSACTION PROCEDURE is agreed as follows:

1. Lessor and Lessee execute, sign and initial this Principal Agreement, which thereby automatically becomes a full commercial recourse contract to be lodged by both parties for initiation of Swift Transmission.

 

2. Within three (3) banking days after both parties sign the Agreement, Lessor will issue a Notarized signed and sealed Corporate Refund Recourse Undertaking duly endorsed by the issuing bank to the Lessee guarantying to refund to the Lessee all cost incurred by Lessee as the transmission/administrative charges for the transmission of Pre-Advice via Swift MT799 or BG/SBLC via Swift MT760 or both after due execution of the contract and in case of failure on the Lessor’s side the Notarized signed and sealed Corporate Refund Recourse Undertaking guarantees that the Lessor refunds completely the transmission/administrative fees in addition to a the penalty for failure of performance being 1% of the total face value of BG/SBLC.

3. Within three (3) working days after the Lessee receives contract documents including the invoice and refund undertaking from the Lessor, the Lessee will make payment by direct wire transfer into the Lessor’s provided bank cordinates for the receiving of the bank transmission/administrative charges the bank transmission/administrative fees for the Pre-Advice via Swift MT799 or BG/SBLC via Swift MT760 or both as the case maybe in the amount of Euro/USD XX,000.00.

 

4. Within two (2) banking days after confirmation of receipt of payment of the bank transmission/administrative fees charges for the BG/SBLC via Swift MT760 or Pre-Advice via Swift MT799 or both in Lessor’s bank account, the Lessor will deliver the Pre-Advice or BG/SBLC via Bank to Bank confirmation of Swift MT799 or MT760 to the Lessee’s banker including the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days.

 

5. Lessee sends out feasing fees by Swift MT103 to the Lessor deducting the initially paid bank transmission/administrative fees and the brokers their commission fees (0.5 +X)% of total Face Value by wire transfer within twenty one (21) days upon delivery, confirmation and verification of BG/SBLC by MT760 in the Lessee’s nominated account and BG/SBLC hard copy in the Lessee’s nominated bank.

 

6. Should the Lessee not deduct the bank transmission/administrative charges from leasing fees paid, the Lessor shall refund bank charges to Lessee by direct wire transfer within three (3) banking days upon payment of the leasing fees.

 

7. 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 and contract terminated.

 

Should the Lessee default to pay the leasing fees to the Lessor and the brokers commission fees as agreed after 21 banking days of confirmation of BG/SBLC MT760 in lessee's bank account, Lessor will instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Lessee's bankers to return the BG/SBLC MT760 to the issuing Bank.

 

Schedule of Bank transmission/administrative fees for Pre-advice SWIFT MT799 and/or BG/SBLC (SWIFT MT760/SWIFT MT799) are described on the website under Transaction Description.

 

NON-SOLICITATION: The Lessee hereby confirms and declares that the Lessor, its associates or representatives or any person or persons on its behalf has/have never ever solicited the Lessee, its shareholders or associates or representatives in any way whatsoever that can be construed as a solicitation for this transaction or for future transactions.

 

FORCE MAJEURE: Any delay in or failure of performance by either party of their respective obligations under this agreement they shall pay 1% as penalty. Any delay in or failure of performance by either party of their respective obligations under this agreement shall not constitute a breach hereunder or give rise to any claims for damages if, and to the extent that such delays or failures in performance are caused by events or circumstance beyond the control of such party. The term “Beyond the Control of Such Party “Include Lawful order of Government or Authority, Act of War, Rebellion or Sabotage, Fire, Flood, Earthquake or other natural disasters. Any other cause not within the control of such party or which is by exercise of reasonable diligence, the party will be unable to foresee or prevent or remedy.

 

ARBITRATION: All disputes and questions whatsoever which arises between the parties to this agreement and touching on this agreement on the construction or application thereof or any account cost, liability to be made hereunder or as to any act or way relating to this agreement shall be settled by the arbitration in accordance with the arbitration laws of the ICC. This agreement contains the entire agreement and understanding concerning the subject matter hereof and supersedes and replaces all prior negotiations and proposed agreements, written or oral. Neither of the parties may alter, amend, nor modify this agreement, except by an instrument in writing signed by both parties. This agreement will be governed by and construed in accordance with the laws of United Kingdom. In the event that either party shall be required to bring any legal actions against the other it enforce any of the terms of this agreement the prevailing party shall be entitles to recover reasonably attorney fees and costs.

 

Lessor reserves the right to use any bank account to receive bank transmission/administrative fees or lease fees to smoothen transaction operation. Lessor and Lessee reserves the right to change the bank coordinates stated herein at anytime by providing written request to the undersigned. Lessee reserves the right to use any bank coordinates to pay fees and receive the BG/SBLC via SWIFT MT799 and/or SWIFT MT760.

 

 

 

 

 

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