Hereinafter refered to as the ‘Provider’, on the other part, or if the Provider and the Beneficiary collectively, then hereinafter to as the ‘Parties’.
WHEREAS,the Beneficiary desires to receive a collateral facility from the Provider, in form if Bank Guarantee(BG) for the purpose to secure working capital and proper management of his daily business, and further confirms with full corporate and legal responsibility that sufficient funds are available to cover the costs of the said credit facility.
WHEREAS, the Provider accepts Beneficiary’s application for the collateral facility, in form of BG, by issuing and transferring to the Beneficiary all its rights on BG Title and any other interest, plus further represents and warrants that if has the ability and resource to cause the issuance and arrange through associates, contracts and sources, with full corporate responsibility, such financial instrument(s) as required and as per terms mutually agreed herein. The Provider hereby declares, under full penalty of perjury, that each BG will be backed by good, clean cleared, and of non-criminal origin cash Euro funds, free and clear of all liens, encumbrances and any third party interests.
NOW THEREFORE, the Beneficiary has agreed to receive the instrument(s) at certain cost and the Provider has agreed to issue/deliver said instruments based on the following terms and conditions:
BANK INSTRUMENTS PARTICULARITIES
Instruments: Fresh Cut/Bank Guarantee (BG43%) ICC 458 format cash backed
Currency: Euros/USD
Bank Menu: Credit Suisse/Deutsche Bank/HSBC/Barclays /Bayerische Landesbank, Rated by S&P “AA”or better
Amount: Seventy Billion Euro (70,000,000,000.00 Euro) TO 100 Hundred Billion Euro(100B) with R. & E.
Price: 43% of full face value plus 1%+ 1% (1% to Buyer’s Broker and 1% to Seller’s Broker)
First Tranch: Five Hundred Million Euro (Euro 500,000,000.00)
Delivery: Buyer’s Bank will send POF if price’s fee first by Swift MT 799 or MT199 to Seller’s provider bank account indicated, Seller’s Issuing Bank will deliver instrument by Swift MT799 followed by MT760, Buyer has up to 10 banking days to pay brokers fees.
Hard copy of the Instrument delivery upon completion within 7 banking days by bank bonded courier.
Payment: Direct Wire Transfer in Sellers account indicated in the POF.
Term: One (1) Year and One (1) Day.