. The PARTY A provides to the PARTY B an authorized/endorsed copy of SBLC MT 760 transmission receipt, together with the Sending Bank Officer’s name, telephone number/ Fax Number (unless already provided) for subsequent confirmation; and
8.4. Within 3-5 banking days, PARTY B MUST confirm receipt and authenticate the SBLC MT 760 on bank to bank basis. AND PAY 1 MILLION DOLLARS AFTER 3 DAYS CONFIRMATION OF THE MT760
8.5. Within 7 banking days upon the PARTY B‘s Bank authenticating and confirming the SBLC MT 760, on a bank-to-bank basis, a total disbursement of 38% will be paid into the designated accounts of the PARTY A through its principal agent contact and 1+1% will be paid into designated accounts of both the provider’s group and receiver’s group as stated in the Irreversible Master Fee Payment Agreement (Appendix 2)
8.6. Once the PARTY B‘s Bank has authenticated and validated the SBLC MT760 on a bank-to-bank basis, this Agreement becomes a full recourse commercial agreement concluded between the PARTY A and the PARTY B and subject to interpretation under the laws of EEC, Germany, and County which Party A’s account is domiciled.