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Geneva Concepts Inc

    

L2L EURO/ USD


[USA]
Posted Date: January 23, 2008    Expiry Date: July 23, 2008
Free Member
   
Description
3. TRANSACTION PROCEDURE - LEDGER TO LEDGER â??L 2 L IN EURO-Pâ??S BANK:
A]. The EURO PROVIDER ( EUR-P) and the USD PROVIDER (USD-P) or their authorized Mandate Representative will sign, seal and return this agreement along with the Fee Protection Agreement and with all other required documents, by email and/ or fax first, this electronic transmitted contract will be deemed as original, ) followed by courier the original Signed Contracts, three Contracts for each party, And,

B]. Both Parties lodge this Agreement along with the Irrevocable Master Fee Protection Agreement [IMFPA] with each partyâ??s bank. And instructions are given by each party to his bank to start the transaction. Window time is agreed to by the Parties and their banks for the preliminary communication by SWIFT PRE-ADVISE for the preparation of the Ledger to Ledger transaction. Bank Account arrangements to start at the Euro Providersâ?? Bank.

1. AFTER THE PARTIES EXCHANGE CONTRACT, USD PROVIDER WILL SEND THE FOLLOWING PRE-ADVISE MESSAGE BY SWIFT MT199 OR BY BANK FAX TO EURO PROVIDERâ??S BANK. / THIS PROCESS IS TO CONFIRM BOTH PARITIES CAPABILITY VIA BANK OFFICER TO REPLACE POF OF BANK DOCUMENT FOR BOTH PARTIES.
2. 1 . From the USD PROVIDERâ??S Bank TO EURO-P BANK IN SINGAPORE [EUR-P]:
â?? On behalf of our client Mr. â?¦[USD-P]â?¦.., we confirm that we are ready to transfer the USD agreed amount to the USD account NUMBER _####______ in your bank for ledger transfer as per contract. Please confirm your readiness to receive the USD and that your bank will pay EUROS by ledger transfer to the USD account of our clientâ??s- account number__###___, in your bank, under your control and with full bank responsibility for any quantity agreed between the USD-PROVIDER and the EUR PROVIDER [ MRâ?¦â?¦â?¦â?¦â?¦â?¦], as stated in the PFCEA CONTRACT NUMBER ____## __ and with Transaction code:_________ immediately after receiving the USD for the exchange by ledger transfer.
â?¢ A COPY OF THIS SWIFT/FAX SHOULD BE SENT BY FAX OR EMAILTO THE EURO PROVIDERâ??S MANDATE, TO : + OR E-MAIL: xxxxx immediately after transmission of SWIFT/FAX for the banking arrangement.

3. UPON RECEIPT OF USD-Providerâ??s PRE-ADVISE, the EUR-Providerâ??s BANK WILL
REPLY TO USD â??Providerâ??s BANK by SWIFT/FAX:

Answer from the EUR-Pâ??s Bank:
â?? WE UBS bank in SINGAPORE [address of bank] confirm, we are ready to receive THE USD AS PER CONTRACT NUMBER ### ___ FOR THE USD CLIENT account NAME, _[USD-P]____ AND ACCOUNT NUMBER:__###___, and we confirm WITH FULL BANK RESPONSIBILITY THAT our bank WILL PAY EUROS by ledger transfer to USD account under our control and WE WILL PAY THE EQUIVALENT value of the quantity agreed to be exchanged between the USD PROVIDER and the EURO PROVIDER- MR EKA K. SANTOSO, as stated in the PFCEA CONTRACT NUMBER:_____________ with TRANSACTION CODE:_______.

4. UPON EXCHANGE ABOVE, THE USD-P TO OPEN AN ACCOUNT IN USD AT THE EUR-Pâ??s BANK WHERE THE PFCEA WILL BE LODGED, IN A LEDGER TO LEDGER SYSTEM, WHERE THE USD WILL BE TRANSFERRED TO THE USD ACCOUNT. (USD PROVIDER WILL SUBMIT ALL NECESSARY DOCUMENTS AND FUNDS FOR THE ACCOUNT OPENING AT EUR-Pâ??S BANK)
OR, THE USDP TO OPEN AN ACCOUNT IN USD AT ANY OF BRANCH OF UBS BANK IN EUROPE OR USA AT THE USDPâ??S CHOICE, WHEREIN USDP WILL LODGE THIS PFCEA. THE USDP AND EURP WILL IMPLEMENT THE TRANSACTION LEDGER TO LEDGER UNDER THE UBS GLOBAL BANKING SYSTEM.
5. THE USD PROVIDER WILL DEPOSIT THE USD INTO HIS USD ACCOUNT IN EUR PROVIDERâ??S BANK AND, HE WILL INFORM THE EUR PROVIDERâ??S BANK OFFICER, [ WHO WILL BE THE SAME BANKER FOR THE USD PROVIDER AND THE EUR PROVIDER], OF HIS READINESS TO TRANSFER THE USD TO EURO PROVIDERâ??S ACOUNT BY LEDGER TO LEDGER ACCOUNT TRANSFER.
Contact:Gregory Thomas:xxxxx
 
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