Fresh Cut BG Direct
Pascal M

Jackson, MI

#1 Jun 2, 2011
Instrument : BANK GUARANTEE
Term : One (1) year and One (1) day
Interest Rate : Zero Coupons.
Age : Fresh Cut
Credit rating : Rated as “AA” by Standard and Poor’s, or better.
Issuing Bank : HSBC, DEUTSCHE BANK, BARCLAY’S, CREDIT SUISSE
Currency : EUROS
Total Amount : 50 Billion EUROS (,€50,000,000,000.00) with Rolls and Extensions.
First Tranche : Five Hundred Million EUROS (€500,000,000.00)
Subs. Tranches : 500 Millions Euros (€500,000,000.00) or as agreed
Invoice Price : Sixty-Eight Percent plus Two percent (68%+2%) of Total Face Value.
Consultant Fees : Two percent **(2.0%) of Total Face Value of each and every tranche shared 50/50 equally to the Provider’s and Buyer’s consultants.
Payment : SWIFT WIRE MT103
Electronic Delivery : MT-760
Delivery :(1) Original Hard Copies bonded couriered bank-to-bank within Seven (7) International banking days per Buyer’s Bank instruction
PROCEDURES:
1) BUYER ISSUES AND DELIVERS THIS LOI/MOU IN ENGLISH DULY COMPLETED IN ALL RESPECTS AND SIGNED WITH FULL BANKING CO-ORDINATES, CLIENT INFORMATION SHEET, CORPORATE RESOLUTION, COPY OF SIGNATORY’S PASSPORT, NON-SOLICITATION, TRANCHING SCHEDULE AND FEE PROTECTION AGREEMENT ALL FULLY SIGNED; MADE OUT TO “THE PROVIDER”, ATTN: DR. HR THOMAS
2) THIS LOI IS SUBMITTED, PROVIDER ACCEPTS AND COUNTERSIGNS THE LOI, MAKING THIS A BINDING CONTRACT/MOU (MEMORANDUM OF UNDERSTANDING) COMPLETE WITH PROVIDER’S BANKING COORDINATES. THEN BUYER SUBMITS HIS MT 199 SWIFT/OR EMAIL TO PROVIDER’S BANK AND PROVIDER RESIPROCATES WITH HIS RWA MT 199/ OR EMAIL.
3) WITHIN 8 BANKING HOURS OF THE EXCHANGE OF THE COUNTERSIGNED LOI AND THE MT 199/OR EMAIL SWIFTS, BUYER’S BANK SENDS CONDITIONAL THE SWIFT MT 103 FIELD 23 FROM ANY TOP EUROPEAN BANK; FOR THE AMOUNT OF THE FIRST TRANCHE, WITH COPY OF SWIFT CONFIRMATION (DULY SIGNED AND STAMPED BY SENDING BANK AND INCLUDING INTERNATIONAL WIRE TRACKING NUMBER) TO PROVIDER’S MANDATE’S EMAIL __________
4) AFTER VERIFICATION AND AUTHENTICATION OF CONDITIONAL MT 103/23 THE PROVIDER WILL REQUEST THE ISSUING BANK TO CUT AND DELIVER THE BG. THEREBY, GRANTING THE BUYER FULL BOND POWER WITH THE RELEVANT CODES AND ALL PERTINENT DOCUMENTATION, AS REQUIRED FOR THE SUCCESSFUL VALIDATION AND AUTHENTICATION OF THE INSTRUMENT, FOR FIRST TRANCHE, DELIVERED VIA MT-760 SWIFT - TO BENEFICIARY'S RECEIVING BANK WITHIN TWO (2) BANKING DAYS.(WITH THE “LETTER OF AUTHORITY TO VERIFY”)
5) UPON SUCCESSFUL VERIFICATION AND AUTHENTICATION OF THE SWIFT MT-760, AND THE ACCEPTANCE OF THE BANK GUARANTEE, THE CLIENT’S BANK WILL REMOVE THE FIELD 23 OR ISSUE PAYMENT, SO THAT THE FUNDS ARE RELEASED UNCONDITIONALLY TO THE PROVIDER. BUYER WILL ALSO DOCUMENT DESIRED TRANCHE SCHEDULE.(8 HRS)
6) FEES SHALL BE DISTRIBUTED FOR EACH TRANCHE IN ACCORDANCE WITH MFPA, BASED UPON THE FACE VALUE OF THE BG, WHICH IS INCORPORATED HEREIN BY REFERENCE AS A MATERIAL CONDITION OF THIS AGREEMENT.
7) TRANSACTION TO CONTINUE AS PER MUTUALLY AGREED TRANCHE SCHEDULE. PROCEDURES ARE TO REPEAT UNTIL CONTRACT, COLLATERAL OR FUNDS BECOME EXHAUSTED.
ANY UNAUTHORIZED BANK CALLS, PROBES, COMMUNICATIONS, IMPROPER SOLICITATION OR DISCLOSURE INVOLVING ANY OF THE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IN IMMEDIATE CANCELLATION OF THIS CONTRACT AND MAY SUBJECT THE VIOLATING PARTY TO PAY DAMAGES.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Banking Discussions

Title Updated Last By Comments
I am waiting for the Written Reply from Chief M... (Dec '14) 5 hr To Nab Arcara 10
David Cheever now has the Cause to Do Justice t... 9 hr To Nab Arcara 2
David Cheever Tricked His Tax Consultant to Car... 13 hr To Lock Up Cheever 1
I can do mt103, mt799, mt760, mt100, mt999 righ... (Dec '12) 14 hr ben 15
A Dismal Future is being Foretold...Prepared fo... 18 hr A Depression 2
The $ 40 m Bank Fraud Investigation Will Come t... Fri For Cheever To Le... 1
US Government Needs to Send Cellino and Barnes ... Fri Lawyers of No Shame 1
More from around the web