\n| TELEPHONE NO.<\/td>\n | +852 8192 5146<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n and<\/p>\n THE LESSEE \/ RECIEVER <\/strong><\/p>\n\n\n\n| Corporate Name<\/td>\n | <\/td>\n<\/tr>\n | \n| Mailing Address<\/td>\n | <\/td>\n<\/tr>\n | \n| Represented By<\/td>\n | <\/td>\n<\/tr>\n | \n| Designation<\/td>\n | \u00a0<\/strong><\/td>\n<\/tr>\n\n| Passport No.<\/td>\n | <\/td>\n<\/tr>\n | \n| Nationality<\/td>\n | <\/td>\n<\/tr>\n | \n| Email Address<\/td>\n | <\/td>\n<\/tr>\n | \n| Mobile Number<\/td>\n | <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n WHEREAS.<\/strong> 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.<\/p>\nWHEREAS<\/strong>. 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.<\/p>\nNOW THEREFORE<\/strong>, 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:<\/p>\nTRANSACTION DESCRIPTION:<\/strong><\/p>\n\n- Instrument: Standby Letter of Credit (SBLC)<\/li>\n
- Total Face Value: USD 200,000,000.00<\/strong><\/li>\n
- Issuing Bank: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 HSBC Hong Kong or Barclays Bank London.<\/li>\n
- Age: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 One Year and One Day (With the option of Rolls and Extension)<\/li>\n
- Leasing Price: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a04% of Face Value plus 2% brokers\u00a0commission<\/li>\n
- Delivery: Bank to Bank Swift MT799 and\/or MT760<\/li>\n
- Payment: MT103<\/li>\n
- Hard Copy: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 By Bank Bonded Courier within 7 banking days after delivery of Swift.<\/li>\n
- Bank transmission fee: $150,000<\/strong><\/li>\n<\/ol>\n
\u00a0<\/strong><\/p>\nTRANSACTION PROCEDURE:<\/strong><\/p>\n\n- 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.<\/li>\n
- 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.<\/li>\n
- 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\u2019s nominated Bank Coordinates. If the\u00a0LESSEE \/ RECEIVER fails to pay the bank transmission fee invoice within 3 business days, the\u00a0LESSEE \/ RECEIVER will pay 1% non performance penalty to the\u00a0LESSOR \/ PROVIDER as the penalty for non performance.<\/li>\n
- Within Three (3) banking days after receipt of\u00a0payment of the bank transmission charges for the BG\/SBLC MT760 swift\u00a0in Lessor’s bank account, the Lessor will deliver the BG\/SBLC via\u00a0bank confirmation of swift BG\/SBLC MT760 to the Lessee’s banker\u00a0including the hard copy of the BG\/SBLC via bank bonded courier in
\nSeven (7) banking days.\u00a0If the\u00a0LESSOR \/ PROVIDER\u00a0fails to deliver the instrument within 5 business days, the\u00a0\u00a0LESSOR \/ PROVIDER\u00a0will return the bank transmission fee back to the\u00a0LESSEE \/ RECEIVER and also\u00a0pay 1% non performance penalty to the\u00a0LESSEE \/ RECEIVER\u00a0as penalty for non performance.<\/li>\n - 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.<\/li>\n
- Should the LESSEE \/ RECIEVER \u00a0default 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.<\/li>\n<\/ol>\n
<\/p>\n NON-SOLICITATION<\/strong><\/p>\nThe 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.<\/p>\n \u00a0<\/strong><\/p>\nFORCE MAJEURE<\/strong><\/p>\nAny delay in or failure of performance by either party of their respective obligations under this agreement they shall pay 1% as penalty.<\/strong><\/p>\n\u00a0<\/strong><\/p>\nAny 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.<\/p>\n <\/p>\n The term \u201cBeyond the Control of Such Party\u201d 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.<\/p>\n <\/p>\n ELECTRONIC DOCUMENT TRANSMISSIONS (EDT):<\/strong><\/p>\nEDT 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);<\/p>\n 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.<\/p>\n ARBITRATION<\/strong><\/p>\nAll 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.<\/p>\n 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.<\/p>\n <\/p>\n FOR AND ON BEHALF OF THE LESSOR \/ PROVIDER<\/strong><\/p>\n________________\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0_________<\/u><\/p>\n Name\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Dr. Tai Tung Williams<\/p>\n Designation\u00a0\u00a0\u00a0\u00a0 :\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Chief Operating Officer (COO)<\/p>\n Passport #\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 E89306954<\/p>\n Nationality\u00a0\u00a0\u00a0\u00a0\u00a0 :\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 Chinese<\/p>\n Issue Date\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0October 10, 2014<\/p>\n Expiry Date\u00a0\u00a0\u00a0\u00a0 :\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 October 10, 2034<\/p>\n <\/p>\n FOR AND ON BEHALF OF THE LESSEE \/ RECEIVER <\/strong><\/p>\n\u00a0<\/strong><\/p>\n________________\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 _________<\/u><\/p>\n Signature and Stamp\/Seal<\/p>\n Name\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :<\/p>\n Designation\u00a0\u00a0\u00a0\u00a0 :<\/p>\n Passport #\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :<\/p>\n Nationality\u00a0\u00a0\u00a0\u00a0\u00a0 :<\/p>\n Issue Date\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :<\/p>\n Expiry Date\u00a0\u00a0\u00a0\u00a0 :<\/p>\n <\/p>\n The LESSOR \/ PROVIDER and LESSEE \/ RECIEVER agree to the following banking co-ordinates pertaining to the agreement herein above stated:<\/p>\n <\/p>\n THE LESSOR \/ PROVIDER\u2019S BANKING CO-ORDINATES TO ISSUE BANK GUARANTEE (SBLC) VIA SWIFT MT799 AND\/OR MT760<\/strong><\/p>\n\n\n\nBANK NAME<\/strong><\/td>\n| HSBC BANK PLC<\/td>\n<\/tr>\n | \nBANK ADDRESS<\/strong><\/td>\n| 8 CANADA SQUARE,\u00a0E14 5HQ<\/td>\n<\/tr>\n | \nACCOUNT NAME<\/strong><\/td>\n| GRAND CITY INVESTMENT LIMITED<\/td>\n<\/tr>\n | \nACCOUNT NUMBER<\/strong><\/td>\n| 32659144<\/td>\n<\/tr>\n | \nSWIFT CODE<\/strong><\/td>\n| \u00a0MIDLGB22<\/td>\n<\/tr>\n | \nIBAN<\/strong><\/td>\n| GB53HBUK40303232659144<\/td>\n<\/tr>\n | \nBANK OFFICER<\/strong><\/td>\n| CATHY YU<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \u00a0<\/strong><\/p>\nTHE LESSOR \/ PROVIDER\u2019S BANKING CO-ORDINATES TO RECEIVE BANK TRANSMISSION \/ ADMINISTRATIVE FEES <\/strong><\/p>\n\n\n\nBANK NAME<\/strong><\/td>\n| HSBC HONG KONG<\/td>\n<\/tr>\n | \nBANK ADDRESS<\/strong><\/td>\n| 1 QUEEN\u2019S ROAD CENTRAL, CENTRAL, HONG KONG<\/td>\n<\/tr>\n | \nBANK SWIFT CODE<\/strong><\/td>\n| HSBCHKHHHKH<\/td>\n<\/tr>\n | \nACCOUNT NUMBER<\/strong><\/td>\n| 640-087268-838<\/td>\n<\/tr>\n | \nBENEFICIARY NAME<\/strong><\/td>\n| GRAND C\u0130TY INVESTMENT L\u0130M\u0130TED<\/td>\n<\/tr>\n | \nBENEFICIARY ADDRESS<\/strong><\/td>\n| 26TH FLOOR, MASSMUTUAL TOWER, 38 GLOUCESTER ROAD, WAN CHAI, HONG KONG.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \u00a0<\/strong><\/p>\nTHE 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).<\/strong><\/p>\n\u00a0<\/strong><\/p>\nTHE LESSOR \/ PROVIDER AND LESSEE \/ RECIEVER reserves the right to change the bank coordinates stated herein at anytime by providing written request to the undersigned.<\/strong><\/p>\n\u00a0<\/strong><\/p>\nLESSEE \/ RECIEVER \u2019S BANK CO-ORDINATES TO RECEIVE BANK GUARANTEE (SBLC) VIA SWIFT MT799 AND\/OR MT760<\/strong><\/p>\n\u00a0<\/strong><\/p>\n\n\n\nBANK NAME<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \nBANK ADDRESS<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \n| ACCOUNT<\/strong><\/p>\n BENEFICIARY NAME<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \nACCOUNT NUMBER<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \nSWIFT CODE<\/strong><\/td>\n| <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \u00a0<\/strong><\/p>\n\u00a0<\/strong>LESSEE \/ RECIEVER \u2019S BANK CO-ORDINATES TO\u00a0 PAY FEES<\/strong><\/p>\n\n\n\nBANK NAME<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \nBANK ADDRESS<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \n| ACCOUNT<\/strong><\/p>\n BENEFICIARY NAME<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \nACCOUNT NUMBER<\/strong><\/td>\n| <\/td>\n<\/tr>\n | \nSWIFT CODE<\/strong><\/td>\n| <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n 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.\u00a0<\/strong><\/p>\n\u00a0<\/strong><\/p>\nAPPENDIX A<\/strong>: THE LESSOR \/ PROVIDER\u2019S INTERNATIONAL PASSPORT<\/p>\nTHE LESSOR \/ PROVIDER\u2019S INCORPORATION CERTIFICATE<\/p>\n APPENDIX B<\/strong>:<\/p>\nLESSEE \/ RECIEVER INTERNATIONAL PASSPORT<\/p>\n LESSEE \/ RECIEVER INCORPORATION CERTIFICATE<\/p>\n <\/p>\n \u201cEXHIBIT a\u201d<\/strong><\/p>\nSAMPLE REFUND UNDERTAKING LETTER FOR BANK CHARGES FROM THE LESSOR \/ PROVIDER<\/strong><\/p>\n(Text may vary in substance but the essential undertaking must be maintained)<\/p>\n <\/p>\n Transaction Code\u00a0\u00a0\u00a0\u00a0 :\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 25\/09\/2024.<\/strong><\/p>\nAttn\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 :<\/p>\n <\/p>\n Dear Sir,<\/p>\n Subject: Irrevocable Corporate Refund Undertaking<\/u><\/p>\n 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 $<\/strong>000<\/strong>,000,000.00 (XXXXXXX MILLION US DOLLARS) <\/strong>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 $<\/strong>5<\/strong>0,000.00<\/strong> 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.<\/p>\nHOwever, 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.<\/p>\n 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.<\/p>\n THE LESSOR \/ PROVIDER\u2019s Banking Coordinates for issuing <\/u>THE INSTRUMENT VIA SWIFT MT799\/MT760<\/u> (ALSO FOR REFUND)<\/u>.<\/p>\n\n\n\nBANK NAME<\/strong><\/td>\n| HSBC BANK PLC<\/td>\n<\/tr>\n | \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
![\"Summary](\"https:\/\/grandcityinvestment.com\/wp-content\/uploads\/2020\/10\/bank-instruments.jpg\")