1. Both parties sign this Agreement and exchange the scanned copies of passports of the authorized signatories and the banking coordinates.
2. Within Three (3) banking days after having signed this agreement, the Funder shall arrange to verify bank draft (herein after referred to as “Bank Draft”) to the Provider’s issuing bank HSBC London via bank-to-bank by Swift MT-799. Thereafter, Provider Bank, HSBC LONDON issues swift output back by“Confirmation” MT – 799 and/or MT-110.
3. Within three (3) banking days after successful verification and authentication of the Swift MT-799/MT -110 , the Funder will arrange ’s paying bank remit the full amount to Provider at the same bank , Provider opens new account bank number against Funder bank.
4. Within one (1) banking days after successful verification and authentication of the Funding, the Provider sends the said Bank Draft Original Hard Copy to the Funder’s receiving bank, immediately.