الوصف

TRANSACTION PROCEDURES

 Price *1*2

1) PARTY B SUBMITS TO PARTY A THIS SIGNED AGREEMENT, TOGETHER WITH :

1.1 CLIENT INFORMATION SHEET

1.2 CORPORATE BOARD RESOLUTION

1.3 NON-SOLICITATION LETTER

1.4 SIGNATORY'S PASSPORT COPY

1.5 CORPORATE REGISTRATION

1.6 THE IRREVOCABLE MASTER FEE PROTECTION AGREEMENT AND PAY ORDER.

2)AFTER COMPLETED DUE DILIGENCE, PARTY A COUNTERSIGNS THIS AGREEMENT AND IT THUS BECOMES A FULL RECOURSE COMMERCIAL CONTRACT AND RETURNS IT TO PARTY B, ALONG WITH PARTY BS FULL BANKING CO-ORDINATES AND THE SIGNATORYS PASSPORT COPY. BOTH PARTIES SHALL LODGE THIS AGREEMENT WITH THEIR RESPECTIVE BANKS.

3)WITHIN TWO (2) BANKING DAYS AFTER THIS AGREEMENT SIGNED, PARTY A TO SEND TO PARTY BS DESIGNATED RECEIVING ACCOUNT A SWIFT MT**9 STATING HIS READINESS AND AVIALABILITY OF THE INSTRUMENT IN HIS BANK. PARTY A SHALL PROVIDE A COPY OF REMITTED TRANSMISSION RECEIPT TO PARTY B FOR TRACING. PLEASE NOTE PARTY AS ISSUING BANK MAY MAKE A PHONE CALL TO RECEIVING BANK. THIS IS A BANK TO BANK BECAUSE OF OUR BANK POLICY.

4)WITHIN THREE (3) BANKING DAYS OF RECEIPT AND CONFIRMED OF THE MT**9 PREADVISE FROM PARTY A. PARTY BS RECEIVING BANK WILL THEN ISSUE AND SENDS THE ICBPO UNDERTAKING TO PARTY A ISSUING BANK VIA MT**9.

WITHING THREE(3) BANKING DAYS THE PARTY A'S BANK WILL ISSUE BG VIA SWIFT BY MT**0 {APPENDIX D} TO PARTY BS DESIGNATED BANK RECEIVING ACCOUNT. PARTY A SHALL PROVIDE A COPY OF SAID MT***0 TO PARTY B FOR TRACING.

5)WITHIN FIVE (5) BANKING DAYS AFTER CONFIRMATION OF THE ABOVE MT**0 BG, PARTY BS PAYING BANK SHALL RELEASE THE AGREED FUNDS TO PARTY AS DESIGNATED BANK ACCOUNT, AND SIMULTANEOUSLY PAYS 2% OF FACE VALUE OF EACH TRANCHE AS CONSULTANCY FEES/COMMISSIONS TO THE CONSULTANTS, AS PER THE RELEVANT IRREVOCABLE MASTER FEE PROTECTION AGREEMENT.

6)WITHIN SEVEN (7) BANKING DAYS OF RECEIPT OF AGREED PAYMENTS, PARTY AS BANK SHALL SEND THE BG HARD COPY ORIGINAL TO PARTY BS DESIGNATED BANK RECEIVING ACCOUNT BY BANK BONDED COURIER.

7)ALL SUBSEQUENT TRANCHES WILL BE BASED ON THE SAME PROCEDURES OR AGREED BY BOTH PARTIES, UNTIL COLLATERAL OR FUNDS BECOME EXHAUSTED.

8)ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS, OR AND IMPROPER SOLICITATION OR DISCLOSURE INVOLVING ANY OF THE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IMMEDIATE CANCELLATION OF THIS TRANSACTION AND SUBJECT THE VIOLATING PARTY TO DAMAGES.