BUY/SELL BG, SBLC PROCEDURE
1. SELLER send Deed of Agreement to BUYER executes, sign an initial the Deed of Agreement which thereby automatically becomes a full recourse commercial contract BUYER’S send ’s passport copy , Company’s resolution and Client’s Information Sheet (CIS).
2. Within 2 days after both parties have executed this Agreement, SELLER will send bank form to BUYER ,BUYER fill and send back within 24hrs
3. Buyer, within three (3) international banking days, instruct his Bank to send SWIFT MT-199 of xx% of BG to the Seller’s provided receiving bank coordinates, which copy will be also provided to Seller via e-mail for the verification and compliance.
4. Within 2 banking days after confirmation and verification of receipt of SWIFT MT-199, SELLER sends Swift MT760 to the bank`s platform for custody, deliver the BG/SBLC and send invitation to BUYER for confirmation.
5. The buyer will meet with banker to open a custodian bank account at the platform to transfer funds for BG and accept BG (possible monetize BG if necessary) to transfer to his bank of choice. The BG will be released if buyer will agree to buy BG via internal block funds through the bank`s platform
5. If BUYER refuse to pay the SELLER, SELLER will instruct the Bank to stop process of acquisition and stop the further transfer of BG to the Buyer.
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 and contract terminated.
2. Within 2 days after both parties have executed this Agreement, SELLER will send bank form to BUYER ,BUYER fill and send back within 24hrs
3. Buyer, within three (3) international banking days, instruct his Bank to send SWIFT MT-199 of xx% of BG to the Seller’s provided receiving bank coordinates, which copy will be also provided to Seller via e-mail for the verification and compliance.
4. Within 2 banking days after confirmation and verification of receipt of SWIFT MT-199, SELLER sends Swift MT760 to the bank`s platform for custody, deliver the BG/SBLC and send invitation to BUYER for confirmation.
5. The buyer will meet with banker to open a custodian bank account at the platform to transfer funds for BG and accept BG (possible monetize BG if necessary) to transfer to his bank of choice. The BG will be released if buyer will agree to buy BG via internal block funds through the bank`s platform
5. If BUYER refuse to pay the SELLER, SELLER will instruct the Bank to stop process of acquisition and stop the further transfer of BG to the Buyer.
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 and contract terminated.
| letter_for_buyer.doc |
| Deed of Agreement_buy_bg.doc |
