Product Description

Description of Instruments:
1. Instrument: Bank Guarantee(BG) / Standby Letter of Credit (SBLC) (Appendix A)
2. Total Face Value: USD 1 Million(Min) to USD *0 Billion (Max)
3. Issuing Bank: AA Rated Bank.
4. Age:   One Year and One Day
5. Leasing Price: 4% of Face Value plus brokers commission
6. Delivery:  Bank-To-Bank Swift.
7. Payment:  Wire Transfer
 
INSTRUMENT DELIVERY PROCEDURE
Both parties (Lessor and Lessee) initiate, sign and execute the Deed of Agreement which thereby automatically becomes a full commercial recourse contract.
Within *4hrs after both Lessee and Lessor exchange duly completed and Signed DOA, the Lessor will show to the Lessee an instrument with face value as been needed by Lessee already issued and shot to clearstream banking. The Lessee in turn will be needed to confirm the suitability of the instrument and also confirm his readiness officially to Lessor to trigger the delivery of instrument through payment of bank fees for swift transmission of instrument to Lessee.
Within 3 days after Lessee confirms his readiness to proceed/trigger with the transaction, 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 MT**0 BG/SBLC or Pre-advice MT**9 or both as the case may be) after due execution of the contract.
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 MT**0 swift transmission or Pre-advice MT**9 swift transmission or both.
Within Three (3) banking days after confirmation of receipt of payment of the bank transmission charges for the BG/SBLC MT**0 swift in Lessor's bank account, the Lessor will deliver the BG/SBLC via bank confirmation of swift BG/SBLC MT**0 to the Lessee's banker including the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days.
Lessee pays Lessor the leasing fee and the brokers their commission fees not later than 7 banking days after the BG/SBLC hard copy is received and confirmed at lessee's bank.