Bank Instruments Particulars:-
Instruments: BANK GUARANTEE, ICC NO. 458 (EXHIBIT “A”)
Currency:EURO
Bank Menu:Commerzbank, Germany.
Contract Amount:EURO 500 (five hundred) Million with rolls and extensions
Tranches:FIRST TRANCHE OF EURO 500 (five hundred) Million
:Subsequent Tranches to be mutually agreed
Denomination:EURO 500 (five hundred) Million
Term:One (1) year and One (1) day
Age:Fresh Cut
Interest:Zero coupon
Invoice Price:73%+1 OF BANK GUARANTEE FACE VALUE
Consultant Fee:1% of Bank Guarantee face value to be pay to consultants
Transaction Mode:Fund First Procedures : SWIFT MT103 FD 23
Closing procedures for the transaction:
1. The Buyer submits this original LOI/Contract with full banking coordinates, Master Fee Protection Agreement, and a clear color copy of the Buyer Signatory’s passport.
2. The Seller signs this LOI/Contract providing Seller’s banking coordinates and returns it to the Buyer.
3. The Buyer’s bank officer shall contact the Seller’s bank officer by SWIFT message (Exhibit “B”) together with BANK TEAR SHEET to confirm the funding capability and also ask the awareness and readiness to receive SWIFT MT103 FD 23. A courtesy copy of this SWIFT message shall be given to the Seller. Once the Buyer’s bank gets a positive response from the Issuing Bank in return, the MT103 FD 23 shall be SWIFT immediately.
4. No phone call or email communications are allowed. All the confirmations shall be done via SWIFT message on a bank to bank basis.
5. The Provider will authenticate and verify the received MT103 FD 23. Within 3 international banking days upon successful verification, the Provider’s Bank will transmit via SWIFT MT760 Bank Guarantee to Buyer’s Bank containing: CUSIP/Registration Numbers, Custodial Safekeeping Receipt Numbers, ISIN Numbers, term, text of instruments, denominations, name(s) of issuing bank(s), date of issue, date of maturity, access code and all pertinent data necessary for the Buyer’s Bank to authenticate and validate the data of the invoiced instrument via Euroclear or DTC.
6. Buyer’s Bank will authenticate and validate the invoiced bank guarantee instrument and confirm satisfaction to Provider’s Bank marking the conclusion of the delivery of the first tranche. Buyer’s Bank shall within eight (8) international banking hours release full payment to Provider’s designated Bank.
7. Within eight (8) international banking hours after receipt of clear funds, Provider’s Bank will electronically deliver the bank guarantee and deliver hard copy Bank Guarantee instruments within seven (7) international banking days to the Buyer or his bank as specified in the funding instrument.
8. Simultaneously, the BUYER shall effect payment to all the intermediaries according to the Master Fee Protection Agreement without delay or withholding.
9. A master fee protection agreement with this Transaction code and date shall be made an integral part of this LOI/Contract as an attachment
The above procedures shall be repeated for subsequent tranches.
EXHIBIT “A”
BANK GUARANTEE VERBIAGE (ICC 458)
(Specimen copy – Final verbiage as per issuing bank standard ICC format)
Name of Advising Bank : Buyer’s Bank,
Bank SWIFT Code : ……………………………….
Attention Bank Officer : Mr………………………………
Title …………………………….
Name of Issuing Bank : ………………………………….
Issuing Bank address : …………………………………..
Bank SWIFT Code : ………………………………..
Bank Officer : …………………………………..
Bank Guarantee Number : …………………………………..
Beneficiary : …………………………………...
Address : ……………………………………
Currency : EURO
Amount : EURO………………………………
Issuing Date : ……………………………………
Maturity Date : ……………………………………
For the value received, we, the undersigned, …………., hereby issue our irrevocable, unconditional, transferable, divisible, and without protest or notification, promise to pay against this Bank Guarantee to the order of …………(Beneficiary) ……..,the bearer or holder thereof, at maturity, the sum of EURO ……..(EURO …………million only) in the lawful currency of the Europen Union, upon presentation and surrender of this Bank Guarantee at any of the counters of ………………….
Such payment shall be made without set-off and free and clear of any deductions, charges, fees, or withholding of any nature presently or in the future imposed, levied, collected, withheld or assessed by the Government of [Country of Issue] or any political subdivision or authority and therein and thereof. This Bank Guarantee is divisible, assignable and transferable without presentation of it to us and without the payment of any transfer fee or charges.
This Bank Guarantee is governed by the Uniform Customs and Practice for Bank Guarantee as set forth by The International chamber of Commerce, Uniform Rules for Demand Guarantees, (ICC Publication No. 458).
This Bank Guarantee shall be governed by and shall be construed in accordance with the laws of [Country of Issue]. This Bank Guarantee is an operative instrument.
For and on behalf of (name of the issuing Bank)
Authorized Officer Authorized Officer
(Name, Title, Pin Code) (Name, Title, Pin Code)
Bank Seal
FORMAT FROM BUYER'S BANK TO COMMERZBANK - (EXHIBIT “B”)
To : Commerzbank AG
Bank officer
IBAN:
Swift Code:
Account Name:
From :
Account No:
Account Name:
Transaction Code:
We, (------ Buyer’s Bank ------), on behalf of our client (------ Buyer ------), hereby confirm with full bank responsibility that we are ready to accept a Bank Guarantee in the amount of EUR500,000,000.00 ( Five Hundred Million EUR)
We further confirm that funding will be made available upon delivery to client of an acceptable Bank Guarantee in format ICC 458 by swift MT760 after verification and authentication with physical dispatch for delivery to us to be made within 2 banking days there after.
We further confirm that the funds are good, clean, cleared funds of non-criminal origin, are from legal source and are free of any liens and encumbrances and are readily available for settlement.
This is an operative and transferable bank instrument and is subject to the uniform commercial code as it relates to bank credit instruments. This callable bank confirmation is valid for fifteen (15) international banking days and may be verified on a bank-to-bank basis.
1. Bank Officers name/Title 2. Bank Officers name/Title
Bank Seal
:Subsequent Tranches to be mutually agreed
Denomination:EURO 500 (five hundred) Million
Term:One (1) year and One (1) day
Age:Fresh Cut
Interest:Zero coupon
Invoice Price:73%+1 OF BANK GUARANTEE FACE VALUE
Consultant Fee:1% of Bank Guarantee face value to be pay to consultants
Transaction Mode:Fund First Procedures : SWIFT MT103 FD 23
Closing procedures for the transaction:
1. The Buyer submits this original LOI/Contract with full banking coordinates, Master Fee Protection Agreement, and a clear color copy of the Buyer Signatory’s passport.
2. The Seller signs this LOI/Contract providing Seller’s banking coordinates and returns it to the Buyer.
3. The Buyer’s bank officer shall contact the Seller’s bank officer by SWIFT message (Exhibit “B”) together with BANK TEAR SHEET to confirm the funding capability and also ask the awareness and readiness to receive SWIFT MT103 FD 23. A courtesy copy of this SWIFT message shall be given to the Seller. Once the Buyer’s bank gets a positive response from the Issuing Bank in return, the MT103 FD 23 shall be SWIFT immediately.
4. No phone call or email communications are allowed. All the confirmations shall be done via SWIFT message on a bank to bank basis.
5. The Provider will authenticate and verify the received MT103 FD 23. Within 3 international banking days upon successful verification, the Provider’s Bank will transmit via SWIFT MT760 Bank Guarantee to Buyer’s Bank containing: CUSIP/Registration Numbers, Custodial Safekeeping Receipt Numbers, ISIN Numbers, term, text of instruments, denominations, name(s) of issuing bank(s), date of issue, date of maturity, access code and all pertinent data necessary for the Buyer’s Bank to authenticate and validate the data of the invoiced instrument via Euroclear or DTC.
6. Buyer’s Bank will authenticate and validate the invoiced bank guarantee instrument and confirm satisfaction to Provider’s Bank marking the conclusion of the delivery of the first tranche. Buyer’s Bank shall within eight (8) international banking hours release full payment to Provider’s designated Bank.
7. Within eight (8) international banking hours after receipt of clear funds, Provider’s Bank will electronically deliver the bank guarantee and deliver hard copy Bank Guarantee instruments within seven (7) international banking days to the Buyer or his bank as specified in the funding instrument.
8. Simultaneously, the BUYER shall effect payment to all the intermediaries according to the Master Fee Protection Agreement without delay or withholding.
9. A master fee protection agreement with this Transaction code and date shall be made an integral part of this LOI/Contract as an attachment
The above procedures shall be repeated for subsequent tranches.
EXHIBIT “A”
BANK GUARANTEE VERBIAGE (ICC 458)
(Specimen copy – Final verbiage as per issuing bank standard ICC format)
Name of Advising Bank : Buyer’s Bank,
Bank SWIFT Code : ……………………………….
Attention Bank Officer : Mr………………………………
Title …………………………….
Name of Issuing Bank : ………………………………….
Issuing Bank address : …………………………………..
Bank SWIFT Code : ………………………………..
Bank Officer : …………………………………..
Bank Guarantee Number : …………………………………..
Beneficiary : …………………………………...
Address : ……………………………………
Currency : EURO
Amount : EURO………………………………
Issuing Date : ……………………………………
Maturity Date : ……………………………………
For the value received, we, the undersigned, …………., hereby issue our irrevocable, unconditional, transferable, divisible, and without protest or notification, promise to pay against this Bank Guarantee to the order of …………(Beneficiary) ……..,the bearer or holder thereof, at maturity, the sum of EURO ……..(EURO …………million only) in the lawful currency of the Europen Union, upon presentation and surrender of this Bank Guarantee at any of the counters of ………………….
Such payment shall be made without set-off and free and clear of any deductions, charges, fees, or withholding of any nature presently or in the future imposed, levied, collected, withheld or assessed by the Government of [Country of Issue] or any political subdivision or authority and therein and thereof. This Bank Guarantee is divisible, assignable and transferable without presentation of it to us and without the payment of any transfer fee or charges.
This Bank Guarantee is governed by the Uniform Customs and Practice for Bank Guarantee as set forth by The International chamber of Commerce, Uniform Rules for Demand Guarantees, (ICC Publication No. 458).
This Bank Guarantee shall be governed by and shall be construed in accordance with the laws of [Country of Issue]. This Bank Guarantee is an operative instrument.
For and on behalf of (name of the issuing Bank)
Authorized Officer Authorized Officer
(Name, Title, Pin Code) (Name, Title, Pin Code)
Bank Seal
FORMAT FROM BUYER'S BANK TO COMMERZBANK - (EXHIBIT “B”)
To : Commerzbank AG
Bank officer
IBAN:
Swift Code:
Account Name:
From :
Account No:
Account Name:
Transaction Code:
We, (------ Buyer’s Bank ------), on behalf of our client (------ Buyer ------), hereby confirm with full bank responsibility that we are ready to accept a Bank Guarantee in the amount of EUR500,000,000.00 ( Five Hundred Million EUR)
We further confirm that funding will be made available upon delivery to client of an acceptable Bank Guarantee in format ICC 458 by swift MT760 after verification and authentication with physical dispatch for delivery to us to be made within 2 banking days there after.
We further confirm that the funds are good, clean, cleared funds of non-criminal origin, are from legal source and are free of any liens and encumbrances and are readily available for settlement.
This is an operative and transferable bank instrument and is subject to the uniform commercial code as it relates to bank credit instruments. This callable bank confirmation is valid for fifteen (15) international banking days and may be verified on a bank-to-bank basis.
1. Bank Officers name/Title 2. Bank Officers name/Title
Bank Seal
If you are interested in the above offer, please do contact us by mail.
E-MAIL ID: ynnexports@gmail.com
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