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EUROCLEAR SCREEN, BLOCK AND PAY.

  • USAUSA
  • Last Updated:11 Mar 2014
  • Time Left: Never Ending

RFQ Details

EUROCLEAR SCREEN, BLOCK AND PAY.



STATEMENT PRIVATE SALE SHOULD BE ENTERED IN PLACE OF PRICE.

PROCEDURES

Seller accepts signs and returns this LOI and all its exhibits complete with full banking details. Upon acceptance, this returned and countersigned LOI becomes a legal and binding contract between the parties. A hard copy contract will be executed by the parties, signed and exchanged, and 2 sets for each party.

Within Eight (8) banking hours after compliance approval, Seller or Sellers Officer will Emails to the Buyer Email: the Screen Able Corporate Certified Invoice (CCI) for the first tranche. The CCI shall contain the following: CUSIP, ISIN and Custodial safekeeping Receipt numbers; Medium Term Note showing text, terms, denomination, Issuing Bank, dates of issue and Maturity, and Beneficiary with complete address; access code and all pertinent data necessary for buyer Bank to authenticate and validate data of invoiced instrument via EUROCLEAR; full bonding power information; Payment Instructions; and guarantee of Seller Bank to deliver the invoiced Bank Instruments.

3. After EUROCLEAR screen authentication, verification and validation of the MTNs, buyer bank within Four (4) hours thereof makes full payment of the first tranche to seller bank by Swift.

4. Within Eight (8) International Banking Hours after receipt of clear funds, Seller Bank will electronically deliver The MTNs via SWIFT MT 760, followed by delivery of the originals within seven (7) international banking days to the Buyers Bank via Special Bank Courier.

5. Seller pays the fees to all consultants, through their respective paymasters as stipulated by pay order within the same Banking day context as payment for each and every completed tranche.

The above procedures shall be repeated for subsequent tranches until the entire contractual amount of MTNs shall have been completed.
NO MT103/23 FUNDS FIRST

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