MEMORANDUM OF UNDERSTANDING
AN AGREEMENT Is made this ….day of May 2015 Between Mr……………………
(Singapore Passport No: ) (hereinafter referred to as the Seller) of the one part AND Mr…………………………………….(Thai Passport No:
) (hereinafter referred to as the Buyer ) of the other part.
WHEREAS
The Parties agreed as follows:-
1. The Seller is agreeable to trade his Venzuelan Bolivar Currency Exchange for Thai Baht or Hong Kong Dollar. Since it is physical cash, the currency can only be deposited in the Special Account Where the Buyer will arrange with their Bank or any licenced Money Changer or authorised person to receive the BOLIVAR (VEF) currency of 100 Nominations printed in the year 2012 settle into the Buyer account with an estimate totalling value of about 2,000,000,000 VEF currency in tranches.
2. Thereafter without based on the prevailing daily Forex Bank currency rate the Buyer will Buy the Venezuelan Bolivar from the Seller at a rate of 100 VEF to 350 THAI BHAT(THB) payable same equivalent into any International currency such as Hong Kong Dollar or Thai Bhat (THB) in tranches.
3. The Buyer shall immediately on the same day deposited the exchanged currency as equivalent to the deposited amounts of 100VEF to 35 THAI BHAT(THB) into the Seller account at Hong Kong or any nominated place of financial institutions into such account as instructed by Seller after the Buyer upon receiving the Venezuelan Bolivar (VEF) notes, check them, verified that it is genuine and shall
immediately pay into the Seller nominated Bank Account as nominated and instructed by the Seller and or he authorised representatives or agents
In consideration of this mutual understanding the Buyer shall ensure that all future Currency Exchange of Venezuela Bolivar (VEF) deposited into the account of the Buyer shall be treated as Seller representatives or agents, and Buyer are bind to informed Seller and or its agent of all deposit for such exchange. All such deposits exchange amount shall then automatically be deposit into the Seller account by the Buyer after confirmation and configuration between Seller and Buyer without any further delay.
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I (Singapore Passport No: ) HEREBY CONFIRM THAT THESE.FUNDS TO THE BEST OF OUR KNOWLEDGE ARE CLEAN, CLEAR FREE OF ANY LEVY LIENS OR ENCUMBRANCES AND THE RULE OFFULL DISCLOSURE HAS BEEN ESTABLISHED THAT SURE FUNDS WERE LEGALLY OBTAINED FROM NON-CRIMINAL ORIGIN ARE FROM A LEGAL SOURCE. THE SELLER HEREBY LEGALLY BIND WITH FULL RESPONSIBILITIES INDEMNIFIED THE BUYER FROM ANY CRIMINALPROCEEDING WITH REGARDS TO THE PURCHASE OF THE
VENEZUELAN BOLIVAR FROM THE SELLER.
IN WITNESS WHERE OF THIS MEMORANDUM OF UNDERSTANDING IS SIGNED, SEALED ON THE DAY AND YER FIRST ABOVE WRITTEN
SIGNED, SEALED AND DELIVERED BY: ……………………………………
SELLER NAME:
SINGAPORE PASSPORT No
SIGNED, SEALED AND DELIVERED BY: ……………………………………………….
Buyer NAME:
THAILAND PASSPORT NO:
WITNESS BY:
……………………………………………………………….
NAME:
MALAYSIAN PASSPORT NO: