2. Total Face Value: Eur/USD 1Million (Min) to Eur/USD 5Billion (Max)
3. Issuing Bank: Barclays Bank London, HSBC Bank London, Lloyds TSB, Deutsch Bank AG, Frankfurt or any AA Rated Bank.
4. Age: One Year and One Day
5. Leasing Price: 4% of Face Value plus 2% brokers commission (only if there is a broker involved in the transaction)
6. Delivery: Bank-To-Bank Swift.
7. Payment: Wire Transfer
8. Hard Copy: Bonded Courier within 7 banking days.
1. Both parties (Lessor and Lessee) execute, sign and initiate the Deed of Agreement, which thereby automatically becomes a full commercial recourse contract.
2. Within 1 day after Both parties sign the Agreement, Lessor will issue a Notarized signed and sealed Corporate Refund Recourse Undertaking to the Lessee guarantying to refund Lessee all the cost incurred by lessee for the bank transmission charges (For swift MT760 BG/SBLC or Pre-advice MT799 or both as the case may be) after due execution of the contract.
3. Within 3 working days after Lessee receives Lessor’s signed and sealed Corporate Refund Recourse Undertaking, Lessee will make payment by wire transfer into the Lessor’s bank account for the bank transmission charges for the BG/SBLC MT760 swift transmission or Pre-advice MT799 swift transmission or both.
4. Within Three (3) banking days after confirmation of receipt of payment of the bank transmission charges for the BG/SBLC MT760 swift in Lessor’s bank account, the Lessor will deliver the BG/SBLC via bank confirmation of swift BG/SBLC 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 pays Lessor the leasing fee and the brokers their commission fees not later than 21 banking days after the BG/SBLC hard copy is received and confirmed at lessee’s bank. Should 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.