PROCEDURE:
• Lessor and Lessee' execute, sign and initiate the Deed of Agreement, which thereby automatically becomes a full commercial recourse contract agreement.
Within (3) bank days, Lessor will issue a cooperate refund undertaken letter duly notarized and endorsed by issuing bank.
Within three (3) banking days lessee will arrange Euro 10,000 being for cost of security deposit.
• Within three (3) banking days, after receiving Euro 10,000 security deposit Lessor will issue RWA and transmitted via MT199 to lessee bank
• Within three (3) banking days after Lessor bank receive RWA via MT199 from Lessor bank, Lessee will transfer Euro 40,000 to provider nominated bank account for call option and MT760 swift transmit ion Charges.
With three (3) banking days after receive Euro 40,000 from lessee Lessor bank will issue BG/SBLC and transmit via swift MT760.
• At list within fifteen (15) banking days of receiving and verifying MT760 from Lessor bank lessee will transfer lease cost of 40% via cash MT103 to Lessor bank and transfer 2% by cash wire transfer to various mandate account as specified in the IMFPA.
• After five (5) banking day’s Lessor bank will send hard copy via bank to bank bonded courier.