1.0 Party-B agrees to absorb the cost of bank charges fees as mutually agreed before the first SWIFT-MT103/202 at 50/50 condition (before the delivery of Swift and after sending the swift).
1.1 Party-B to issue a draft MT103/202 verbiage to Party-B for his issuing bank to send the swift –MT103/202 format as per requested.
1. 2 Within four banking days (4) upon receipt the advance charges fee, Party-A’s bank ( issuing bank ) to send / transfer the SWIFT-MT103/202 to Party-B’s receiving bank.
1.3 After successful of transferring the SWIFT-MT103/202, Party-A’s bank will inform Mr.Frans Usman and Party-B (Mr.Kiti Suwanmad) to check and authenticate the SWIFT-MT103/202 in the receiving bank to ensure that, SWIFT has been sent and receipt by the designated bank and satisfactorily transferred.
1.4 Upon satisfactory confirmed the SWIFT, Party-B to immediately disburse the balance (50/50) of bank charges fee to Party-A immediately.
2.0 After successful transferred the SWIFT-MT103/202 to the Party-B’s bank, the receiving bank has the right to check and reconfirm the SWIFT transferred at the SWIFT Central in Brussel, Belgium.
3.0 Party-B to advice his bank with the contract amount of USD$5,000,000,000.00 ( Five Billion US Dollars) to be issued in package of tranches as per schedule in this agreement.
4.0 Upon successful authenticated the SWIFT, the Party-B to disburse the Leasing fees and master protection fees simultaneously to the Party-B and intermediary/ consultant’s designated banks respectively, via SWIFT-MT103.
4.1 Disbursement of payment of 8% +1.5% +1.5% should be made no less than three (3) banking days after satisfactory transferred of SWIFT-MT103/202.
4.2 Duration of whole process and transaction until completion is expected to be completed about 15 banking days, including the transferring of SWIFT-MT103/202.
4.3 In any cases should either Parties faces any un-convenience causes, must be informed to the other party in writing via email.
5.0 A penalty of 2% stayed as per previous MoU agreement, should either parties failure to perform as per agreement. Reclaim of penalty payment shall be within 30 working days after the failed party was proven and evidence of failure.
6.0 The discounted leasing fees (per Annum) is stayed as per previous transaction of 8% +1.5%+1.5% .( net 8.0 % to Party-A and 3.0% to intermediary /consultants).