We are looking forward to receiving your lease price offer and conditions on your market.
\nIV. Proof of Funds to pay for the SBLC Funds are guaranteed by the Receiving bank via MT799. Please see the Verbiages \u2013 Article IX of this Letter of Intent . The text on the agreed Bank Verbiages may vary in substance, but the essential undertaking must be maintained.V. Payment for the SBLC
\nA. Within 7 ( seven) banking days after receipt and verification of the SBLC including Hard Copy, by our receiving Bank, provided that the fee of the SBLC will be 8% or lower . This buying price will be guaranteed via MT 799. ( see page 8 of this letter of Intent.)
\nB. Within 45 ( forty-five ) banking days after receipt and verification of the SBLC including Hard Copy, by our receiving Bank, provided that the fee of the SBLC will be 9% or higher. This buying price will be guaranteed via MT 799. ( see page 8 of this letter of Intent.)VI. Payment of the Commission To be agreed in percentage and time of deliveryVII. No Pre-payments Our credit line allows us to guarantee the Issuer the payment for the instrument directly by Bank Swift and therefore we will not deal with any speculative pre-payment dealers or intermediary that require payment before delivery of the Instrument.
\nVIII. Recommended procedure
\na. Provider and Receiver will sign Deed of Agreement, attach CIS, Passport copy of the signatories,<\/div>\n
Commercial Register of the parties, and full banking details including the provided SWIFT verbiages,
\nwhich thereby becomes a full commercial contract with all attachments.
\nb. Provider \u0301s bank will issue MT199 with the Verbiage as per Annex A to the Receiver\u2019 s Bank
\nCoordinates stated in this agreement, within 7 banking days after signing this Agreement. The
\nProvider will deliver a copy of the MT 199 SWIFT bank message to the Receiver \u0301s email address, listed
\non first page of this DOA, within 1 banking day after issuance.
\nc. Within 3 banking days the Receiving bank will answer with MT 199, stating their readiness to
\nreceive the BG\/SBLC (Annex A1 ). The Receiver will deliver a copy of the MT 199 SWIFT answer from
\nthe bank to the Provider \u0301s email address, listed on first page of this DOA, within 1 banking day after
\nissuance.
\nd. Provider \u0301s bank will issue MT799 with the Verbiage as per Annex B to the Receiver\u2019s Bank
\nCoordinates within 3 banking days. The Provider will deliver a copy of the MT 799 SWIFT bank
\nmessage to the Receiver \u0301s email address, listed on first page of this DOA, within 1 banking day after
\nissuance.
\ne. Receiver\u2019s bank will answer with MT799 with the Verbiage as per Annex B1 to the Provider\u2019s Bank
\nCoordinates within 3 banking days, stating that they are ready to fulfill the complete agreement,
\nprovide the credit line to the Receiver and guarantee the payment of the fees plus commissions after
\nreceipt and verification of MT760 and Hard Copy delivered by Bank Bonded Courier. The Receiver will
\ndeliver a copy of the MT 799 SWIFT answer from the bank to the Provider \u0301s email address, listed on
\nfirst page of this DOA, within 1 banking day after issuance.
\nf. Provider\u2019 s bank issues MT 760 as per Verbiage Annex C and sends Hard Copy to the Receiver. The Provider will deliver a copy of the MT 760 SWIFT bank message to the Receiver \u0301s email address, listed on first page of this DOA, within 1 banking day after issuance.
\ng. Within 7 banking days after receipt and successful verification and acceptance of the MT760 the Receiver\u2019s bank transfers the lease fee via MT 103 to the designated bank account of the Provider, specified in this agreement for fee below 8%. Within 45 banking days after receipt and successful
\nverification and acceptance of the MT760 the Receiver\u2019s bank transfers the lease fee via MT 103 to the designated bank account of the Provider, specified in this agreement above 9%.
\nh. The SBLC will be returned officially by the Receiving Bank to the Issuing Bank 21 days before the expiry unencumbered and free of any charge or lien.
\ni. The transaction is completed.
\nIX. VerbiagesVerbiages Terminology:Issuing Bank \u2013 Refers to the Bank appointed by the Provider to Issue the BG\/SBLC Beneficiary Bank \u2013
\nRefers to the Bank appointed by the Receiver to accept BG\/SBLC Account Number \u2013 Refers to Bank
\nAccount Number in full form or IBAN Investment Agreement Transaction Code \u2013 Refers to
\ncompulsory description of this transaction which is stated as following : BOC-DB-BZ-TK-500M0620VERBIAGE \/ ANNEX A
\nVERBIAGE MT199 RWA (required) FROM ISSUING BANK TO BENEFICIARY BANK (Text may vary in
\nsubstance, but the essential undertaking must be maintained)ATTENTION: MR ……….<\/p>\n
ON BEHALF OF OUR CLIENT (NAME OF THE COMPANY ) …………………….. ACCOUNT NUMBER: \n………………………… ………… WOULD YOU BE SO KIND TO EXCHANGE AUTHORIZATION WITH OUR \nINSTITUTION FOR THE FURTHER DELIVERY OF THE BANK GUARANTEE\/STANDBY LETTER OF CREDIT \nREFERENCE: ( NUMBER ) ………………………… ……..IN AMOUNT OF EUR 100 MILLION (ONE HUNDRED \nMILLION EURO) IN FAVOUR OF YOUR CLIENT ACCOUNT : ( NAME OF THE COMPANY ) …………………….. \nACCOUNT NUMBER: ………………………. FOR A PERIOD OF ONE YEAR AND ONE DAY ASSIGNED FOR \nTHEIR FULL USE AND BENEFIT TO SECURE AND GUARANTEE ANY CREDIT OBLIGATIONS. UPON \nRECEIPT OF YOUR RESPONSE WE WOULD RECIPROCATE BY OPENING THE BG\/SBLC WITH YOUR GOOD \nBANK.<\/p>\n
FOR AND ON BEHALF OF ………………………… ………. (BENEFICIARY BANK AND ADDRESS) THANKS, AND \nREGARDS,<\/p>\n
BANK OFFICER: (1) TITLE PIN: BANK OFFICER: (2) TITLE PIN:<\/p>\n
VERBIAGE \/ ANNEX A1<\/p>\n
RESPONSE OF MT199 FROM BENEFICIARY BANK TO THE ISSUING BANK (Text may vary in substance, \nbut the essential undertaking must be maintained)<\/p>\n
DEAR SIRS,<\/p>\n
WE, …………. KANTONALBANK SWITZERLAND, WITH FULL BANKING RESPONSIBILITY AND LIABILITY \nHEREBY CONFIRM ON BEHALF OF OUR CLIENT (NAME OF THE COMPANY) ………………………… ……, THAT \nWE ARE READY, WILLING AND ABLE TO RECEIVE A BANK GUARANTEE\/STANDBY LETTER OF CREDIT \nFROM YOUR GOOD BANK. PLEASE PROVIDE US THE PRE-ADVICE INCLUDING THE DRAFT OF THE \nGUARANTEE TEXT.<\/p>\n
FOR AND ON BEHALF OF ………………………… …………… (BENEFICIARY BANK AND ADDRESS) THANKS, AND \nREGARDS, (ISSUING BANK AND ADDRESS).<\/p>\n
BANK OFFICER: (1) TITLE PIN: BANK OFFICER: (2) TITLE PIN:<\/p>\n
VERBIAGE \/ ANNEX B<\/b><\/p>\n
VERBIAGE MT799 PRE-ADVICE FROM ISSUING BANK TO BENEFICIARY BANK (Text may vary in \nsubstance, but the essential undertaking must be maintained (BG\/SBLC VERBIAGE AS PROVIDED IS \nMANDATORY)<\/p>\n
ATTENTION: MR. …………,<\/strong><\/p>\nWE (ISSUING BANK AND ADDRESS) ………………………… … HEREBY CONFIRM WITH FULL BANKING<\/strong> \nRESPONSIBILITY THAT WE ARE READY TO ISSUE AND DELIVER ONE (1) BANK GUARANTEE\/STANDBY<\/strong> \nLETTER OF CREDIT (BG\/SBLC) ICC FORMAT ON BEHALF OF OUR CLIENT, ( NAME OF THE COMPANY )<\/strong> \n………………………… ………… ORDERING CUSTOMER ACCOUNT NUMBER :<\/strong> \n………………………… ………………………. IN THE TOTAL AMOUNT OF EUR 100,000,000.00 (EURO ONE<\/strong> \nHUNDRED MILLION ONLY) IN THE LAWFUL CURRENCY OF THE EUROPEAN UNION IN FAVOR OF<\/strong> \n………………………… ………. KANTONALBANK SWITZERLAND, CLIENT: (NAME OF THE COMPANY)<\/strong> \n………………………… ……………………., ACCOUNT NUMBER : ………………………… ……………………….., . THIS<\/strong> \nSWIFT MESSAGE IS VERIFIABLE ON NORMAL BANK – TO – BANK BASIS WITH FULL BANKING<\/strong> \nRESPONSIBILITY, UPON RECEIPT OF CLEARANCE FROM OUR CLIENT. THERE WILL BE NO LIENS AND<\/strong> \nENCUMBRANCES ON THIS INSTRUMENT WHICH SHALL BE DELIVERED AND AVAILED VIA MT760 AND<\/strong> \nEXACT BANK GUARANTEE\/STANDBY LETTER OF CREDIT (BG\/SBLC). THIS PRE-ADVICE IS VALID FOR<\/strong> \nSEVEN (7) INTERNATIONAL BANKING DAYS ONLY AS AN OPERATIVE INSTRUMENT, NO MAIL<\/strong> \nCONFIRMATION WILL FOLLOW. ALL CHARGES ARE FOR THE ACCOUNT OF RECEIVER.<\/strong><\/p>\nFOR AND ON BEHALF OF………………………. ….. (ISSUING BANK AND ADDRESS) (ISSUING BANK AND<\/strong> \nADDRESS). BANK OFFICER: (1) TITLE PIN: BANK OFFICER: (2) TITLE PIN:<\/strong><\/p>\nTHE BG\/SBLC FORMAT SWIFT MT760 AS FOLLOWS: FOR THE VALUE RECEIVED, WE, THE \nUNDERSIGNED, (THE ISSUING BANK NAME) ……………………… \n(ADDRESS)………………… ………………………… …………….(COUNTRY)….. ………………………… , HEREBY ISSUE OUR \nIRREVOCABLE, UNCONDITIONAL, TRANSFERABLE, DIVISIBLE, AND WITHOUT PROTEST OR \nNOTIFICATION, PROMISE TO PAY AGAINST THIS GUARANTEE NUMBER …………….. THE ORDER OF \n(COMPANY NAME)……………………. ………………. , THE BEARER OR HOLDER THEREOF, AT MATURITY, THE \nSUM OF EURO 100,000,000.00 (EURO ONE HUNDRED MILLION ONLY) IN THE LAWFUL CURRENCY OF \nTHE EUROPEAN UNION, UPON PRESENTATION AND SURRENDER OF THIS GUARANTEE AT ANY OF \nTHE COUNTERS OF OUR OFFICES AT (ADDRESS) ………………………… …….., (COUNTRY)……………… SUCH \nPAYMENT SHALL BE MADE WITHOUT SET-OFF AND FREE AND CLEAR OF ANY DEDUCTIONS, \nCHARGES, FEES, OR WITHHOLDING OF ANY NATURE PRESENTLY OR IN THE FUTURE IMPOSED, \nLEVIED, COLLECTED, WITHHELD OR ASSESSED.<\/p>\n
THIS GUARANTEE IS CASH BACKED, DIVISIBLE, ASSIGNABLE AND TRANSFERABLE WITHOUT \nPRESENTATION OF IT TO US AND MAY BE RELIED UPON FOR THE PURPOSES OF OBTAINING CREDIT \nLINES OR LOANS. EXCEPT AS OTHERWISE EXPRESSLY STATED HEREIN, THIS GUARANTEE IS GOVERNED \nAND CONSTRUCTED IN ACCORDANCE WITH THE LAWS OF (COUNTRY) ………………………. THIS \nGUARANTEE IS GOVERNED BY THE UNIFORM RULES FOR DEMAND GUARANTEES AS SET FORTH BY \nTHE INTERNATIONAL CHAMBER OF COMMERCE LATEST REVISION OF PUBLICATION 500\/600 URDG \n758. YOUR DEMAND FOR PAYMENT SHOULD REACH US NOT BEFORE XX.XX.2021 <fourteen days \nbefore expiry> BUT NOT LATER THAN XX.XX.2022 <one day after expiry> AFTER WHICH DATE, THIS \nGUARANTEE EXPIRES IN FULL AND SHOULD BE CONSIDERED NULL AND VOID.<\/p>\n
VERBIAGE \/ ANNEX B1<\/strong><\/p>\nVERBIAGE MT799 FROM BENEFICIARY BANK TO THE ISSUING BANK<\/strong><\/p>\nACKNOWLEDGEMENT (DRAFT) BY SWIFT MT799 IN RESPONSE TO THE PRE – ADVICE SWIFT MT799 \n(Text may vary in substance, but the essential undertaking must be maintained)<\/p>\n
DEAR SIRS, WE ………………. KANTONALBANK SWITZERLAND, WITH FULL BANKING RESPONSIBILITY \nAND LIABILITY HEREBY CONFIRM ON BEHALF OF OUR CLIENT ( NAME OF THE COMPANY) \n………………………… ……, THAT WE ARE READY, WILLING AND ABLE TO RECEIVE THE BANK \nGUARANTEE\/STANDBY LETTER OF CREDIT (BG\/SBLC) NO. ……………………… DELIVERED BY SWIFT<\/p>\n
MT760 AS ADVISED AND PER INVESTMENT AGREEMENT TRANSACTION CODE BOC-DBBZ-TK- \n500M0620. WE FURTHER CONFIRM ON BEHALF OF OUR CLIENT ( NAME OF THE COMPANY)<\/p>\n
………………………… ……, THAT THE CREDIT FACILITY IS AVAILABLE FOR THE BG\/SBLC, AND THAT WE \nSHALL EXECUTE THE INVESTMENT AGREEMENT ON REQUEST OF OUR CLIENT ( NAME OF THE \nCOMPANY) ………………………… ……, INCLUDING THE TRANSFER OF EUR ………………………… ……..( STATE \nCOMPLETE FEE TO BE PAID TO PROVIDER IN EUROS) AS DIRECT INVESTMENT IN FAVOR OF THE \nISSUING COMPANY( PROVIDER \u0301S CORPORATE NAME ) ………………………… ……………….. …….ACCOUNT \nNUMBER \/ IBAN ………………………… ………. SWIFT ……………………. BANK \nADDRESS………………….. ………………………… …………………………<\/p>\n
FOR AND ON BEHALF OF (BENEFICIARY BANK AND ADDRESS) \nBANK OFFICER: (1) TITLE PIN: \nBANK OFFICER: (2) TITLE PIN:<\/p>\n
VERBIAGE \/ ANNEX C<\/p>\n
VERBIAGE OF THE “SWIFT MT760” FROM ISSUING BANK TO BENEFICIARY’S BANK (Text verbiage \nmust be maintained)<\/p>\n
BANK GUARANTEE NUMBER : ……………………. BENEFICIARY ( NAME OF THE COMPANY) \n………………………… ……, ADDRESS HIRSCH GRABEN 31 LUZERN 6300 SWITZERLAND CURRENCY EUR \nAMOUNT EURO ONE HUNDRED MILLION ONLY ISSUING DATE XX.XX.2020 MATURITY DATE ONE \nYEAR + ONE DAY(FROM ISSUING DATE)<\/p>\n
FOR THE VALUE RECEIVED, WE, THE UNDERSIGNED, (BANK NAME) ………………………… ……. (ADDRESS) \n………………………… ………..(COUNTRY)………. ………, HEREBY ISSUE OUR IRREVOCABLE, UNCONDITIONAL, \nTRANSFERABLE, DIVISIBLE, AND WITHOUT PROTEST OR NOTIFICATION, PROMISE TO PAY AGAINST \nTHIS BANK GUARANTEE NUMBER ………………………… ……THE ORDER OF ( NAME OF THE COMPANY) \n………………………… ……, THE BEARER OR HOLDER THEREOF, AT MATURITY, THE SUM OF EURO \n100,000,000.00 (EURO ONE HUNDRED MILLION ONLY) IN THE LAWFUL CURRENCY OF THE \nEUROPEAN UNION, UPON PRESENTATION AND SURRENDER OF THIS BANK GUARANTEE AT ANY OF \nTHE COUNTERS OF OUR OFFICES AT (ADDRESS)………………… ………………………. SUCH PAYMENT SHALL \nBE MADE WITHOUT SET-OFF AND FREE AND CLEAR OF ANY DEDUCTIONS, CHARGES, FEES, OR \nWITHHOLDING OF ANY NATURE PRESENTLY OR IN THE FUTURE IMPOSED, LEVIED, COLLECTED, \nWITHHELD OR ASSESSED. THIS BANK GUARANTEE IS CASH BACKED, DIVISIBLE, ASSIGNABLE AND \nTRANSFERABLE WITHOUT PRESENTATION OF IT TO US AND MAY BE RELIED UPON FOR THE \nPURPOSES OF OBTAINING CREDIT LINES OR LOANS. EXCEPT AS OTHERWISE EXPRESSLY STATED \nHEREIN, THIS BANK GUARANTEE IS GOVERNED AND CONSTRUCTED IN ACCORDANCE WITH THE \nLAWS OF (COUNTRY)………………… ………… THIS BANK GUARANTEE IS GOVERNED BY THE UNIFORM \nRULES FOR DEMAND GUARANTEES AS SET FORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE \nLATEST REVISION OF PUBLICATION 500\/600 URDG 758. YOUR DEMAND FOR PAYMENT SHOULD \nREACH US NOT BEFORE XX.XX.2021 <fourteen days before expiry> BUT NOT LATER THAN XX.XX.2021 \n<one day after expiry> AFTER WHICH DATE, THIS BANK GUARANTEE EXPIRES IN FULL AND SHOULD \nBE CONSIDERED NULL ANDVOID.<\/p>\n
FOR AND ON BEHALF OF (ISSUING BANK AND ADDRESS)<\/p>\n
AUTHORIZED OFFICER AUTHORIZED OFFICER \n(NAME, TITLE, PIN-CODE) \n(NAME, TITLE, PIN-CODE)<\/p>\n
X. Special condition<\/p>\n
The SBLC will be returned 21 days before expiry date or renewed in mutual understanding at the \nsame conditions as agreed for the first issue.<\/p>\n
XI. Further Cooperation<\/p>\n
With our credit line, we are able to purchase total value of SBLCs in the amount of 500 million Eur . In \ncase if you would have one client that wishes to place larger amount with us, ( by lease or purchase ) \nwe are able to purchase it in 3 tranches : 100 million, 200 Million and 200 Million. They can be \ndelivered in about 30 days after each other.<\/p>\n
XII. General conditions<\/p>\n
This letter of intent is not a binding contract. All details have to be negotiated and executed through \na final contract or other agreement. Your formal offer, in case You wish to enter in this transaction, \nshould be forwarded to us within 7 (seven) working days.<\/p>\n
The following member of Ravens Power AG can be contacted for any additional information or in<\/p>\n
on behalf of the Ravens Power AG \nSincerely,<\/p>\n
Gabriela Weiss \nFriedrich A. Breiteneder \nDate: 20th of October 2020<\/p>\n<\/div>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Who is a Standby Letter of Credit Provider? Standby Letter of Credit Provider is a company like Grand City Investment Limited that provides Standby Letter of Credit Provider (SBLC MT760) and other bank financial instruments to its customers.\u00a0So therefore, Grand City Investment Limited\u00a0is a Standby…<\/p>\n","protected":false},"author":1,"featured_media":663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[442,443,258,228,430,52,444],"class_list":["post-695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-standby-letter-of-credit-sblc","tag-lease-standby-letter-of-credit","tag-purchase-standby-letter-of-credit","tag-sblc-monetizers","tag-standby-letter-of-credit","tag-standby-letter-of-credit-cost","tag-standby-letter-of-credit-provider","tag-standby-letter-of-credit-uses"],"yoast_head":"\n
Standby Letter of Credit Provider - Grand City Investment Ltd<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n