Re: Re: Re: Re: Re: Re: Lease BG
Posted by Vong Chakra yuth on June 10, 2010 at 09:52:18:
In Reply to: Re: Re: Re: Re: Re: Lease BG posted by mohamed hagag on August 30, 2009 at 19:31:03:
DEAR All Lessor BG
Please read our procedure as the below :
Thank you for all lessor offer BG leasing and here is our procedure, please respond if accepted :
BG face value US$ or Euro 500M, no upfront fees and no opening escrew account and no travelling to leaser place for meeting :
1. Leaser and Leasee sign agreement and exchange scanned copies (jpeg files) of Passports of the authorized signatories, Leasee provides letter from the Bank, Leasee Corporate Resolution, the accepted verbiage of the BG and issues Irrevocable Fee Protection Agreement (IFPA), In addition from that Leaser shall be provided with all necessary documents pertaining to the Transaction.
2. Steps in sequence of SWIFT between Leasee and Leaser Bank
(i ) Step 1 Leaser SWIFT MT199 or MT999 PRE-ADVICE BG
including the accepted verbiage of BG
(ii) Step 2 Leasee SWIFT MT103/23 (iii)Step 3 Leaser SWIFT MT760 BG ( Leassee will pay the fee and the rest of the credit line).
3. After Leaser and Lease sign with full banking coordinates, within Three (3) Banking Days, Leaser Bank shall send PRE-ADVISE via SWIFT MT999 to Leasee Bank quoting with PRE-ADVISE . A copy of the SWIFT MT999 Stamped by the bank of, Leaser must be provided to Leasee after SWIFT to expedite Verification.
4. Upon receipt, full verification and authentication of Leaser pre-advice SWIFT MT999, Leasee Bank shall SWIFT conditional MT103/23 Leaser Bank within 3 Banking days.
5. Upon receipt of the conditional SWIFT MT103/23, within 3 Banking Days, Leaser shall cause the Issuing Bank to send BG via SWIFT MT 760 to Leasee Receiving Bank.
6. Upon receipt, full verification and authentication of Leaser, BG SWIFT via MT760, Leasee Bank shall wire transfer ………of face value of BG in favor of Leaser nominated bank account from Banks to (BANK NAME).
7. Simultaneously, Leasee shall effect payment of commission without any delays and withholding in accordance with the IFPA with the transaction code and date which shall be regarded as an addendum of this binding contract.
8. Full bond power will be issued and hard copy of BG instrument will be delivered within seven (7) international banking days via bonded Bank courier to the Buyer.
9. All subsequent trenches will be based on the same procedures until collateral or fund becomes exhausted.
10. The deed of agreement mutually signed between the leaser and leases becomes null and void after the tenth (10th) day from the date the deed of agreement signed, if it has not been executed by both parties.
• Below Bank format MT 199 and 760
RWA VIA SWIFT MT199
From: Issuing Bank
SWIFT Code: __________
To Funding Bank
SWIFT Code: __________
Attn: Bank Officer
Reference Code: _____________
Transaction Code: ______________
Dear Sirs,
We ( Name of Issuing Bank) hereby confirm with full bank responsibility to advise you our client “ ____________________” is ready willing and able to deliver a Bank Guarantee Amount EUR________________(European Dollar ___________ Only)and will be transferred to your client “______________________________” (With bank information).
The BG text as per below attachment.
Yours Faithfully,
(Bank Name)
____________________ ______________________
Bank Officer’s Name Bank Officer’s Name
Title & ID Title & ID
----------------------- Text of MT 760 -------------------------
Bank Guarantee – ICC500 Format
Date :
Transaction Code :
From :
To :
Issuing Bank :
Bank Guarantee No :
ISIN No :
CUSIP No :
Access Code :
Currency Code :
Date of Issue :
Date of Maturity :
Date of Expiry :
Applicant :
Beneficiary :
Amount :
WE, THE UNDERSIGNED ___________ HEREBY OPEN OUR IRREVOCABLE, TRANSFERABLE, DIVISIBLE, ASSIGNABLE AND CONFIRMED BANK GUARANTEE IN FAVOR OF _______ FOR THE AMOUNT OF EURO 500,000,000.00 (FIVE HUNDRED MILLION EUROS) DUE, ONE YEARS AND ONE MONTH FROM THE DATE OF ISSUE___, DAY OF ______ 2010.
PAYMENT IS AVAILABLE BY BENEFICIARY FIRST WRITTEN DEMAND VIA SWIFT WIRE SYSTEM. DEMAND HEREUNDER MUST BE MARKED, DRAWN UNDER THE LETTER OF GUARANTEE NUMBER______DATED____, DAY OF ______2010.
WE ENGAGE WITH YOU THAT THE DEMAND DRAFT UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS LETTER OF GUARANTEE SHALL BE DULY HONOURED ON THE DATE OF PRESENTATION TO US.
THIS LETTER OF GUARANTEE IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICES FOR DOCUMENTARY CREDITS, INTERNATIONAL CHAMBER OF COMMERS, PARIS FRANCE, PUBLICATION 500, LATEST REVISION.
THIS CABLE IS AN OPERATIVE INSTRUMENT; ALL CHARGES ARE FOR THE ACCOUNT OF THIS APPLICANT.
THIS LETTER OF GUARANTEE EXPIRES ON _________ ___ 2012.
FOR AND ON BEHALF OF ISSUING BANK;
Bank Officer(1) Authorized Signature: Bank Officer(2) Authorized Signature:
________________________ ________________________
Name: Name:
Title: Title:
ID: ID:
Telephone: Telephone:
Fax: Fax:
E-Mail: E-Mail:
Insert Bank Seal Insert Bank Seal
END OF MESSAGE
Thank you
Best Regards
Vong Chakra yuth
Skype ID : yuthnrc.com1
E.mail : info@yuthnrc.com