25 Sep BG/SBLC Deed of Agreement

An Overview of a BG/SBLC Deed of Agreement

 

A BG/SBLC Deed of Agreement is a formal contract that outlines the terms and conditions under which a Bank Guarantee (BG) or Standby Letter of Credit (SBLC) is issued. These financial instruments are often used in international trade and finance to provide assurance to parties involved in a transaction. Here’s an overview of key aspects typically covered in a BG/SBLC Deed of Agreement:

 

Key Components of the Agreement

1. Parties Involved: Clearly identifies the beneficiary (the party receiving the BG/SBLC) and the provider (the issuing bank or financial institution).
2. Purpose of the BG/SBLC: Specifies the underlying transaction or obligation that the BG/SBLC is intended to secure. This could be related to performance, payment, or compliance.
3. Amount and Currency: States the total amount of the BG/SBLC and the currency in which it is issued.
4. Terms and Conditions:
   • Validity Period: Duration for which the BG/SBLC is valid and the conditions under which it can be drawn upon.
   • Payment Conditions: Details regarding how and when payments can be made against the BG/SBLC, including any specific documentation required.
5. Fees and Charges: Outlines any fees associated with the issuance and maintenance of the BG/SBLC, including service charges or commissions.
6. Responsibilities of the Parties: Defines the obligations and rights of both the beneficiary and the provider, including compliance with laws and regulations.
7. Governing Law: Specifies the legal jurisdiction under which the agreement is governed, which can affect how disputes are resolved.
8. Dispute Resolution: Details the process for resolving any disputes that may arise, which may include mediation, arbitration, or litigation.
9. Indemnification Clause: Provides terms under which one party may need to compensate the other for losses incurred due to breaches of the agreement.
10. Non-Circumvention and Non-Disclosure: Ensures that parties do not bypass each other in future transactions and that confidential information remains protected.

 

Importance of the BG/SBLC Deed of Agreement

• Risk Mitigation: Provides assurance to the beneficiary that they will receive payment or performance as promised.
• Credibility: Enhances the credibility of the parties involved, particularly in international transactions where trust may be limited.
• Structured Process: Establishes a clear process for managing the financial instrument, helping to avoid misunderstandings or disputes.

 

Who issues the BG/SBLC Deed of Agreement?

BG/SBLC Deed of Agreement is issued by financial instrument BG/SBLC providers such as Grand City Investment Limited.

Grand City Investment Limited. is a licensed Money Lender that was incorporated in Hong Kong on MAY 29,1984 with Company Registration No. 0137353.  Our services include but are not limited to Business Loans, Project Funding, Investments, Wealth Management, PPP / Trade Platforms as well as issuance and monetization of Bank Guarantees, Standby Letters of Credit and other financial instruments.

clike here to obtain BG/SBLC from prime banks 

Conclusion

A BG/SBLC Deed of Agreement is a critical document in financial transactions, providing clarity and security for all parties involved. It’s essential for both beneficiaries and providers to understand the terms thoroughly to ensure compliance and protect their interests.

             

                  BG / SBLC DEED OF AGREEMENT

DATE:  9/25/ 2024.

TRANSACTION CODE:

This agreement is made and entered into this day, Wednesday, September 25, 2024, by and between the parties described below:

 

THE LESSOR / PROVIDER

CORPORATE NAME	Grand City Investment Limited
MAILING ADDRESS	26th Floor, MassMutual Tower, 38 Gloucester Road, Wan Chai, Hong Kong.
COMPANY. REG. NO.	0137353
REPRESENTED BY	Dr. Tai Tung Williams
DESIGNATION	Chief Operating Officer (COO)
PASSPORT NO.	E89306954
DATE OF BIRTH:	January 6, 1956.
NATIONALITY	Chinese
EMAIL ADDRESS	apply@grandcityinvestment.com
TELEPHONE NO.	+852 8192 5146

and

THE LESSEE / RECIEVER

Corporate Name
Mailing Address
Represented By
Designation
Passport No.
Nationality
Email Address
Mobile Number

WHEREAS. The LESSEE / RECIEVER desires to LEASE a Standby Letter of Credit (SBLC) from THE LESSOR / PROVIDER. LESSEE / RECIEVER confirms with full corporate and legal responsibility that funds available to fulfill the requirements for the acquisition of this said instrument is ready and LESSEE / RECIEVER further agree to follow THE LESSOR / PROVIDERS procedures and terms.

WHEREAS. THE LESSOR / PROVIDER desires to release, transfer and assign all rights title and interest of the Standby Letter of Credit (SBLC) available to it to the LESSEE / RECIEVER. THE LESSOR / PROVIDER represents and warrants that it has the ability and resource to arrange through associates, contracts and sources, with full corporate responsibility, financial instrument in the term of assignments to be provided to LESSEE / RECIEVER. THE LESSOR / PROVIDER hereby declares under penalty of perjury that the Standby Letter of Credit (SBLC)will be backed by funds that are good, clean, clear, and free of non-criminal origin, theStandby Letter of Credit (SBLC) will be free and clear of all liens, encumbrances and third-party interests.

NOW THEREFORE, The LESSEE / RECIEVER has agreed to acquire the Standby Letter of Credit (SBLC) at 4% of Face Value while THE LESSOR / PROVIDER has agreed to issue the Standby Letter of Credit (SBLC) and both Parties hereby agree to the following:

TRANSACTION DESCRIPTION:

1. Instrument: Standby Letter of Credit (SBLC)
2. Total Face Value: USD 200,000,000.00
3. Issuing Bank:             HSBC Hong Kong or Barclays Bank London.
4. Age:             One Year and One Day (With the option of Rolls and Extension)
5. Leasing Price:              4% of Face Value plus 2% brokers commission
6. Delivery: Bank to Bank Swift MT799 and/or MT760
7. Payment: MT103
8. Hard Copy:             By Bank Bonded Courier within 7 banking days after delivery of Swift.
9. Bank transmission fee: $150,000

 

TRANSACTION PROCEDURE:

1. THE LESSOR / PROVIDER and LESSEE / RECIEVER execute, sign and initial this Deed of Agreement, which thereby automatically becomes a full commercial recourse contract to belodged by both parties for initiation of Swift Transmission.
2. Within 1 day after Both parties sign the Deed of Agreement, Lessor will issue a Notarized, signed and sealed Corporate Refund Recourse Undertaking Letter (CRRUL) to the Lessee guarantying to refund Lessee the cost of the bank transmission charges in the event that fees are paid and BG/SBLC is not issued. It should be noted that if the BG/SBLC issued as agreed then the bank transmission fee is not refundable. Upfront fees are refunded only in cases where fees are paid and instrument is not provided.
3. Within three (3) business days after the LESSEE / RECEIVER receives from the LESSOR / PROVIDER, the Countersigned Contract alongside the Corporate Refund Recourse Undertaking, the LESSEE / RECEIVER will transfer the Bank Transmission, Administrative & Handling Charges into the LESSOR / PROVIDER’s nominated Bank Coordinates. If the LESSEE / RECEIVER fails to pay the bank transmission fee invoice within 3 business days, the LESSEE / RECEIVER will pay 1% non performance penalty to the LESSOR / PROVIDER as the penalty for non performance.
4. Within Three (3) banking days after receipt of payment of the bank transmission charges for the BG/SBLC MT760 swift in Lessor’s bank account, the Lessor will deliver the BG/SBLC via bank confirmation of swift BG/SBLC MT760 to the Lessee’s banker including the hard copy of the BG/SBLC via bank bonded courier in
   Seven (7) banking days. If the LESSOR / PROVIDER fails to deliver the instrument within 5 business days, the  LESSOR / PROVIDER will return the bank transmission fee back to the LESSEE / RECEIVER and also pay 1% non performance penalty to the LESSEE / RECEIVER as penalty for non performance.
5. LESSEE / RECIEVER pays Lessor the leasing fee and the brokers their commission fees not later than 21 banking days after the Standby Letter of Credit (SBLC) hard copy is received and confirmed at the lessee’s bank.
6. Should the LESSEE / RECIEVER  default to pay the issuance fees to the LESSOR / PROVIDER and the broker commission fees as agreed after Thirty (30) banking days of confirmation of Standby Letter of Credit (SBLC)MT760 in LESSEE / RECIEVER ‘s bank account, THE LESSOR / PROVIDER will instruct the issuing bank to put a claim on the Standby Letter of Credit (SBLC)thereby forcing the LESSEE / RECIEVER ‘s bankers to return the Standby Letter of Credit (SBLC) MT760 to the issuing Bank.

 

NON-SOLICITATION

The LESSEE / RECIEVER hereby confirms and declares that the LESSOR / PROVIDER, its associates or representatives or any person or persons on its behalf has/have never ever solicited the LESSEE / RECIEVER, its shareholders or associates or representatives in any way whatsoever that can be construed as a solicitation for this transaction or for future transactions.

 

FORCE MAJEURE

Any delay in or failure of performance by either party of their respective obligations under this agreement they shall pay 1% as penalty.

 

Any delay in or failure of performance by either party of their respective obligations under this agreement shall not constitute a breach hereunder or give rise to any claims for damages if, and to the extent that such delays or failures in performance are caused by events or circumstance beyond the control of such party.

 

The term “Beyond the Control of Such Party” include: Lawful order of Government or Authority; Act of War, Rebellion or Sabotage; Fire, Flood, Earthquake, Storm, Nuclear Accident or Other Disasters; Any other cause(s) not within the control of such party or which is by exercise of reasonable diligence, the party will be unable to foresee or prevent or remedy.

 

ELECTRONIC DOCUMENT TRANSMISSIONS (EDT):

EDT shall be deemed valid and enforceable in respect of any provisions of this Agreement. As applicable, this Agreement shall be: Incorporate U.S. Public Law 106-229, ”Electronic Signatures in Global and National Commerce Act” or such other applicable law conforming to the UNCITRAL Model Law on Electronic Signatures (2001) and ELECTRONIC COMMERCE AGREEMENT (ECE/TRADE/257, Geneva, May 2000) adopted by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT);

EDT documents shall be subject to European Community Directive No. 95/46/EEC, as applicable. Either Party may request hard Copy of any document that has been previously transmitted by electronic means provided however, that any such request shall in no manner delay the parties from performing their respective obligations and duties under EDT instruments.

ARBITRATION

All disputes and questions whatsoever which arises between the parties to this agreement and touching on this agreement on the construction or application thereof or any account cost, liability to be made hereunder or as to any act or way relating to this agreement shall be settled by the arbitration in accordance with the arbitration laws of the ICC.

This agreement contains the entire agreement and understanding concerning the subject matter hereof and supersedes and replaces all prior negotiations and proposed agreements, written or oral. Neither of the parties may alter, amend, nor modify this agreement, except by an instrument in writing signed by both parties. This agreement will be governed by and construed in accordance with the laws of Hong Kong. In the event that either party shall be required to bring any legal actions against the other it enforces any of the terms of this agreement the prevailing party shall be entitles to recover reasonably attorney fees and costs.

 

FOR AND ON BEHALF OF THE LESSOR / PROVIDER

________________                       _________

Name               :           Dr. Tai Tung Williams

Designation     :           Chief Operating Officer (COO)

Passport #        :           E89306954

Nationality      :           Chinese

Issue Date       :             October 10, 2014

Expiry Date     :           October 10, 2034

 

FOR AND ON BEHALF OF THE LESSEE / RECEIVER

 

________________                       _________

Signature and Stamp/Seal

Name               :

Designation     :

Passport #        :

Nationality      :

Issue Date       :

Expiry Date     :

 

The LESSOR / PROVIDER and LESSEE / RECIEVER agree to the following banking co-ordinates pertaining to the agreement herein above stated:

 

THE LESSOR / PROVIDER’S BANKING CO-ORDINATES TO ISSUE BANK GUARANTEE (SBLC) VIA SWIFT MT799 AND/OR MT760

BANK NAME	HSBC BANK PLC
BANK ADDRESS	8 CANADA SQUARE, E14 5HQ
ACCOUNT NAME	GRAND CITY INVESTMENT LIMITED
ACCOUNT NUMBER	32659144
SWIFT CODE	MIDLGB22
IBAN	GB53HBUK40303232659144
BANK OFFICER	CATHY YU

 

THE LESSOR / PROVIDER’S BANKING CO-ORDINATES TO RECEIVE BANK TRANSMISSION / ADMINISTRATIVE FEES

BANK NAME	HSBC HONG KONG
BANK ADDRESS	1 QUEEN’S ROAD CENTRAL, CENTRAL, HONG KONG
BANK SWIFT CODE	HSBCHKHHHKH
ACCOUNT NUMBER	640-087268-838
BENEFICIARY NAME	GRAND CİTY INVESTMENT LİMİTED
BENEFICIARY ADDRESS	26TH FLOOR, MASSMUTUAL TOWER, 38 GLOUCESTER ROAD, WAN CHAI, HONG KONG.

 

THE LESSOR / PROVIDER RESERVES the right TO USE ANY BANK ACCOUNT TO RECEIVE BANK TRANSMISSION/ADMINISTRATIVE FEES OR ACQUISITION FEES TO SMOOTHEN TRANSACTION OPERATION (IT IS OUR BANK REGULATIONS AND PROCEDURE).

 

THE LESSOR / PROVIDER AND LESSEE / RECIEVER reserves the right to change the bank coordinates stated herein at anytime by providing written request to the undersigned.

 

LESSEE / RECIEVER ’S BANK CO-ORDINATES TO RECEIVE BANK GUARANTEE (SBLC) VIA SWIFT MT799 AND/OR MT760

 

BANK NAME
BANK ADDRESS
ACCOUNT BENEFICIARY NAME
ACCOUNT NUMBER
SWIFT CODE

 

 LESSEE / RECIEVER ’S BANK CO-ORDINATES TO  PAY FEES

BANK NAME
BANK ADDRESS
ACCOUNT BENEFICIARY NAME
ACCOUNT NUMBER
SWIFT CODE

LESSEE / RECIEVER RESERVES THE RIGHT TO USE ANY BANK COORDINATE TO PAY FEES AND RECEIVE THE Standby Letter of Credit (SBLC)VIA MT799 AND/OR MT760. 

 

APPENDIX A: THE LESSOR / PROVIDER’S INTERNATIONAL PASSPORT

THE LESSOR / PROVIDER’S INCORPORATION CERTIFICATE

APPENDIX B:

LESSEE / RECIEVER INTERNATIONAL PASSPORT

LESSEE / RECIEVER INCORPORATION CERTIFICATE

 

“EXHIBIT a”

SAMPLE REFUND UNDERTAKING LETTER FOR BANK CHARGES FROM THE LESSOR / PROVIDER

(Text may vary in substance but the essential undertaking must be maintained)

 

Transaction Code     :                    25/09/2024.

Attn                 :

 

Dear Sir,

Subject: Irrevocable Corporate Refund Undertaking

We hereby confirm with full corporate responsibility under penalty of perjury that we are ready, Willing and able to deliver a Fresh Cut SBLC / Standby Letter of Credit (SBLC)for total face value of $000,000,000.00 (XXXXXXX MILLION US DOLLARS) from our issuing BANK <HSBC PLC, LONDON, UNITED KINGDOM>, as agreed in the Deed of Agreement, to you OR YOUR CUSTOMERS bank coordinates within 48hours upon confirmation of your wire transfer of $50,000.00 being the BANK TRANSMISSION, ADMINISTRATIVE AND HANDLING CHARGES to deliver BY SWIFT MT799 FOLLOWED BY MT760 OR BY DIRECT MT760 to your nominated bank account for authentication and verification before delivery of hard copy via bank bonded courier.

HOwever, if WE fail to deliver THE SAID SBLC / Standby Letter of Credit (SBLC)via swift mt760 withIN 3 DAYS upon confirmation of THE bank transmission fees into our bank account stated beloW AND/OR IF THE DELIVERED SWIFT MT760 FAILS THE VERIFICATION OF YOUR BANK, we will immediately refund total amount paid for transmission fees into your bank account In ADDITION TO A penalty for failure of performance being 1% of the total face value of SBLC.

We have given our corporate instruction to our issuing bank to refund the bank transmission fees by lodging a copy of this undertaking along with the contract.

THE LESSOR / PROVIDER’s Banking Coordinates for issuing THE INSTRUMENT VIA SWIFT MT799/MT760 (ALSO FOR REFUND).

BANK NAME	HSBC BANK PLC
BANK ADDRESS	8 CANADA SQUARE, E14 5HQ
ACCOUNT NAME	GRAND CITY INVESTMENT LIMITED
ACCOUNT NUMBER	32659144
SWIFT CODE	MIDLGB22
IBAN	GB53HBUK40303232659144
BANK OFFICER	CATHY YU

 

THE LESSOR / PROVIDER’s Banking Coordinates TO RECEIVE bank transmission/ADMINISTRATIVE fees.

 

BANK NAME
BANK ADDRESS
ACCOUNT BENEFICIARY NAME
BENEFICIARY ADDRESS
ACCOUNT NUMBER
SWIFT CODE

 

For and on behalf of:

THE LESSOR / PROVIDER SIGNATURE

NOTARY OFFICER NAME / SIGNATURE

 

 “EXHIBIT b”

SAMPLE SWIFT MT-199 OR 799 FROM ISSUING BANK TO CUSTOMERS BANK

(Text may vary in substance but the essential undertaking must be maintained)

FROM

BANK NAME:

BANK ADDRESS:

BANK TEL:

BANK FAX:

BANK OFFICER NAME:

SWIFT CODE:

ACCOUNT NAME:

ACCOUNT NO:

 

TO

BANK NAME:

BANK ADDRESS:

BANK TEL:

BANK FAX:

BANK OFFICER NAME:

SWIFT CODE:

ACCOUNT NAME:

ACCOUNT NO:

trANSACTION CODE:

AMOUNT:

CURRENCY:

BENEFICIARY:

 

FOR VALUE RECEIVED, WE, —– {NAME OF ISSUING BANK} —–, AT —– {FULL BANK ADDRESS}—–, HEREBY ISSUE OUR IRREVOCABLE, UNCONDITIONAL AND NEGOTIABLE BG /SBLC NO : ——— IN FAVOUR OF ____________ THE BENEFICIARY XXXXXXXXXX FOR THE AMOUNT OF XXX AMOUNT IN WORD {$ EUR00,000,000.00}, VALID FOR ONE (1) YEAR AND ONE (01) DAYS AND DUE FOR PAYMENT AT MATURITY ON __________ {1 YEAR + 1 DAY MATURITY DATE FROM ISSUING DATE} _____________

WE HEREBY IRREVOCABLY AND UNCONDITIONALLY UNDERTAKE TO PAY IN FULL AGAINST THISStandby Letter of Credit (SBLC)AT MATURITY, WITHOUT  ANY PROTEST, DELAY OR OBJECTION, THE SUM OF XX $ OR EUR  $€00,000,000.00 TO THE  ORDER  OF XXXXXXXXXX THE BENEFICIARY’S THE LESSEE / RECIEVER  OR HOLDER  THEREOF AT MATURITY. SUCH PAYMENT SHALL BE MADE FREE AND CLEAR OF ANY DEDUCTIONS CHARGES, FEES OR WITHHOLDING, UPON RECEIVING BENEFICIARY’S FIRST DEMAND VIA BANK WIRE SYSTEMANDSURRENDER OF THISStandby Letter of Credit (SBLC)NO: ————– AT THIS BANK AT MATURITY DATE.

THIS Standby Letter of Credit (SBLC)IS TRANSFERABLE AND ASSIGNABLE WITHOUT PRESENTATION OF IT TO US AND WITHOUT PAYMENT OF ANY FEES.  WE HEREBY ENGAGE WITH YOU THAT THE DEMAND MADE UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS SBLC, SHALL BE DULY HONOURED ON DUE PRESENTATION TO US. THE DEMAND HEREUNDER MUST BE MARKED “DRAWN UNDERStandby Letter of Credit (SBLC)NO: ——– DATED,_________{GUARANTY ISSUE DATE}

THIS Standby Letter of Credit (SBLC) IS CONSTRUED, GOVERNED AND ISSUED IN ACCORDANCE WITH THE RULES, REGULATIONS AND PRACTICES AS SET FORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE {ICC}, PARIS, FRANCE, PUBLICATION 500, LATEST REVISION.

THIS SWIFT IS OUR VALID AND OPERATIVE INSTRUMENT. NO MAIL CONFIRMATION WILL FOLLOW. ALL CHARGES ARE FOR THE ACCOUNT OF LESSEE / RECIEVER.

Please confirm you are ready to receive and fund this bank instruments with good, clean andnon-criminal origin funds.

 

For and on Behalf of

<Name of Issuing Bank>

<Address of Issuing Bank>

 

______________________                                        ______________________

Authorized Bank Officer 1                                     Authorized Bank Officer 2

<Name, Title, PIN Code>                                       <Name, Title, PIN Code>

 

“EXHIBIT c”

SAMPLE SWIFT MT-760 FROM ISSUING BANK TO CUSTOMERS BANK

(Text may vary in substance but the essential undertaking must be maintained)

FROM

BANK NAME:

BANK ADDRESS:

BANK TEL:

BANK FAX:

BANK OFFICER NAME:

SWIFT CODE:

ACCOUNT NAME:

ACCOUNT NO:

 

TO

BANK NAME:

BANK ADDRESS:

BANK TEL:

BANK FAX:

BANK OFFICER NAME:

SWIFT CODE:

ACCOUNT NAME:

ACCOUNT NO:

BANK GUARANTEE NO.:

AMOUNT / CURRENCY:

ISSUED DATE:

MATURITY DATE:

LESSEE / RECIEVER:         XXXXXXXXXXXXXX

BENEFICIARY:         XXXXXXXXXXXXXX

 

FOR VALUE RECEIVED WE THE UNDERSIGNED, HSBC BANK PLC, ADDRESS AT 8 CANADA SQUARE E14 5HQ LONDON UK, HEREBY IRREVOCABLY, UNCONDITIONALLY AND WITHOUT PROTEST OR NOTIFICATION ON FIRST DEMAND, PROMISE TO PAY AT MATURITY TO THE ORDER OF ___________ THEREOF, THE SUM OF XXXXXXXXXXXXX (XXXXXXX MILLION XXX) IN THE LAWFUL CURRENCY OF THE EUROPEAN UNION/UNITED STATES DOLLARS UPON PRESENTATION AND SURRENDER OF THIS GUARANTEE AT THE OFFICE OF HSBC BANK PLC.

SUCH PAYMENT SHALL BE MADE WITHOUT SET OFF AND SHALL BE UNENCUMBERED FREE AND CLEAR OF ANY DEDUCTIONS, CHARGES, FEES OR WITH HOLDING OR ANY NATURE NOW OR HEREAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR ASSESSED BY THE GOVERNMENT OR ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.

THIS GUARANTEE IS FULLY CASH BACKED WITH FUNDS ON DEPOSIT THAT ARE GOOD, CLEAN, CLEARED OF NON-CRIMINAL ORIGIN, FREE OF ANY LIENS OR ENCUMBRANCES LEGALLY EARNED BY THE LESSEE / RECIEVER. THIS BANK GUARANTEE IS UNCONDITIONAL, TRANSFERABLE, ASSIGNABLE, DIVISIBLE AND CONFIRMED WITHOUT PRESENTATION OF IT TO US AND SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE UNITED KINGDOM.

THIS BANK GUARANTEE IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICES FOR BANK GUARANTEE AS SET FORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE – PARIS – FRANCE, LATEST REVISION OF PUBLICATION 758.

THIS IS AN OPERATIVE INSTRUMENT, NO MAIL CONFIRMATION WILL FOLLOW.

 

For and on behalf of:

XXX ISSUING BANK XXX

XXX ISSUING BANK ADDRESS XXX

 

BANK OFFICER 1                                                       BANK OFFICER 2

TITLE (PIN)                                                   TITLE (PIN)

 

FEE PROTECTION AGREEMENT

Both THE LESSOR / PROVIDER and LESSEE / RECIEVER agree that the LESSOR / PROVIDER’s and LESSEE / RECIEVER ‘s agents are entitled to 2% of the SBLC  Face Value as commission fees. These commission fees will be shared between the LESSOR / PROVIDER’s and LESSEE / RECIEVER ’s agents as specified here below.

The parties agree that the commission fees stated are compensation for services rendered and are irrevocably and unconditionally guaranteed to be paid by the LESSEE / RECIEVER  to the agents and intermediaries listed in this FPA by wire transfer simultaneously with the LESSEE / RECIEVER’s payment of X% of the face value of the *SBLC  as selling fee to the LESSOR / PROVIDER for every tranche and/or transaction of the *SBLC . The commission fees will be free of legal impediment and free of any deductions, excluding bank transfer fees, for this and all subsequent transactions between the parties.

In consideration of the mutual benefits to be derived by the associates or affiliated individuals, agents, companies, designees, trustees or executors, it is understood and agreed that the parties hereto are mutually desirous of effecting this business transaction in co-operation with one another for their mutual benefit and all signatory parties agree to abide by the following terms and conditions:

1. Each party agrees that they will not make any contact with, deal with or be involved with individuals, trader and investor introduced by another signatory without specific permission of the introduced signatory for the Investor.
2. The signatory agrees to keep confidential the identity of and all contacts so provided by any other signatories.
3. The parties hereto agree that all commissions or fees as agreed by the parties shall be paid in full at the end of every transaction.
4. This agreement shall be legally binding on the parties hereto, their principals, employees, representatives, agents and assigns in all countries of the world.

 

The parties hereto affirm that in every case they will act with the highest standards of ethics and honesty in all their dealings.

This agreement shall be respected and honored at all times, unless otherwise mutually agreed upon and any party will permit no attempt or hint of circumvention.

Each of the above parties agrees and understands that any overt or covert action of circumvention prescribed by this agreement shall be a fraudulent act against the other party and will be subject to judicial action, recompense for damages, possible punitive damages and injunctive relief imposed by the legal process.

Both parties hereby agree that the agents and intermediaries referred to in this FPA shall be as follows:

 

TOTAL COMMISSION FEE OF 2% OF FACE VALUE PAID BY THE LESSEE / RECIEVER  TO BE SHARED EQUALLY AS FOLLOW:

 

TOTAL COMMISSION OF 1%TO THE LESSOR / PROVIDER’S SIDE (CLOSED)

PARTICULARS	PAYMASTER 1
NAME
E-MAIL
BANK NAME
BANK ADDRESS
ABA ROUTING NUMBER
ACCOUNT NUMBER
ACCOUNT NAME
SWIFT CODE
BANK TELEPHONE
BENEFICIARY
SPECIAL INSTRUCTIONS
REQUIRED MESSAGE	ALL TRANSFER INSTRUCTIONS SHALL STATE: “FUNDS ARE CLEAN AND CLEAR, OF NON-CRIMINAL ORIGIN, AND ARE IMMEDIATELY PAYABLE IN CASH”

 

 

TOTAL COMMISSION OF 2% TO LESSEE / RECIEVER ’S SIDE (OPEN)

PARTICULARS	PAYMASTER 2
NAME
E-MAIL
BANK NAME
BANK ADDRESS
ABA ROUTING NUMBER
ACCOUNT NUMBER
ACCOUNT NAME
SWIFT CODE
BANK TELEPHONE
BENEFICIARY
SPECIAL INSTRUCTIONS
REQUIRED MESSAGE	ALL TRANSFER INSTRUCTIONS SHALL STATE: “FUNDS ARE CLEAN AND CLEAR, OF NON-CRIMINAL ORIGIN, AND ARE IMMEDIATELY PAYABLE IN CASH”

This Fee Protection Agreement has been agreed and executed by the undersigned on this day 00/00/2024.

FOR AND ON BEHALF OF THE LESSOR                       FOR AND ON BEHALF OF THE LESSEE

 

___________________________________                          ___________________________________

Signature and Stamp/Seal                                                       Signature and Stamp/Seal