3. After signing the agreement and simultaneously or latest within 2 banking days with the return of the agreement by the Issuing Party,4. Within 3 banking days The Issuing bank sends R.W.A. (Readiness Willing and Able) via Swift MT199 to Receiving bank and copy of the R.W.A. will be sent to receiver by email.5. Within 2 banking days of the receipt of the MT199 R.W.A. from Provider’s bank, receiving bank issues BCL (Bank Comfort Letter ) for ------% of face value to Provider’s bank via Swift MT199.6. Within 2 banking days upon success confirmation of Receiving bank’s BCL, the Issuing’s bank shall send Pre-advice via Swift MT-799 to the Receiving Bank.7. Within 3 banking days after authentication of Pre-Advice Swift MT-799, the Receiving Party’s bank will issue Bank Funding Undertaking via swift MT799 to the Issuing Party’s Bank.8. The Issuing Party will issue & deliver the SWIFT MT-760 BG/SBLC to the Receiving Party bank for authentication & verification of the FC BG/SBLC in favor of the Receiving Party.9. Within 3 banking days of confirmation and verification of the Issuing Party swift MT-760 FC BG/SBLC, Receiving bank shall disburse the agreed funds via MT103 or wire transfer to Issuing Party’s nominated bank account, simultaneously, distribute consultants fees to all consultants per IMFPA which is an integral part of this contract.10. Within 7 banking days after confirmation of receipt of the agreed funds, the Issuing Party will deliver the hard copy of the FC BG/SBLC MT760 to the Receiving Party bank via bank bonded courier.11. All subsequent tranches will be based on the same procedures or as agreed by both bank officers per banking protocol until collateral or funds become exhausted.MT199 VERBIAGEISSUING BANK:ACCOUNT HOLDER:ACCOUNT NUMBER:ADDRESS:SWIFT CODE:BANK OFFICER:BANK OFFICER TELEPHONE : +BANK OFFICER FACSIMILE : +BANK OFFICER EMAIL :SWIFT: ACCOUNT NUMBER :RECEIVING BANK:ACCOUNT HOLDER:ACCOUNT NUMBER :ADDRESS:SWIFT CODE:BANK OFFICER NAME:BANK OFFICER TELEPHONE:BANK OFFICER FACSIMILE:RELATED REFERENCE: TRANSACTION CODE: XXXXXXXXXXXXXXXXXXX / :_______, ACTING AT THE REQUEST OF ___________________, HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY THAT WE ARE READY TO ISSUE A CASH-BACKED BANK GUARANTEE FORMAT 758 IN THE TOTAL AMOUNT OF EUROS __________ (€ _____________.00) ISSUED BY ___________ BANK IN BENEFICIAL FAVOUR OF ______________________ WITH A PERIOD OF ONE YEAR AND ONE DAY FROM THE DATE OF ISSUE, SAID BANK GUARANTEE IS FULLY UNCONDITIONAL ASSIGNABLE, DIVISIBLE AND TRANSFERABLE. WE ARE READY, WILLING AND ABLE TO DELIVER THE BANK GUARANTEE TO THE BENEFICIARY (_______________________) BY SWIFT MT760 INSTRUMENT. FURTHERMORE, WE HEREBY CONFIRM THAT WE SHALL DELIVER THE AMOUNT OF EUROS ______________ (€ _________.00) OF THE AFOREMENTIONED BANK GUARANTEE TO ________________________ AS BENEFICIAL OWNER, WITHIN THREE (3) BANKING DAY VIA AUTHENTICATED SWIFT MT760 TO YOUR DESIGNATED BANK COORDINATES.THIS TRANSMISSION MAY BE VERIFIED AND AUTHENTICATED BANK TO BANK OR VIA AUTHENTICATED SWIFT.FOR AND ON BEHALF OF _________BANK LOCATED AT _____________________________.BANK OFFICER #1BANK OFFICER #2 TITLE / PIN CODETITLE / PIN CODE MT199 VERBIAGESWE, (THE RECEIVING PARTY’S PAYING BANK) HEREBY PRESENT OUR IRREVOCABLE, NON-ASSIGNABLE, NON-TRANSFERABLE AND CALLABLE CASH-BACKED STANDING SWIFT (BANK UNDERTANKING PAYMENT GUARANTEE) WIRE TRANSFER IN YOUR FAVOUR FOR THE ACCOUNT OF [-----AND ACCOUNT NUMBER------------IN THE AMOUNT OF [--------------------------------------------------- CURRENCY AND AMOUNT IN WORDS AND FIGURES----------------------- ------------------------] FOR THE RECEIVE OF BANK INSTRUMENTS DELIVERED BY SWIFT MT760 UPON THE RECEIPT,SATISFACTORY VERIFICATION OF REGISTRATION ISIN/ CUSIP NUMBERS AND THE CORRESPONDING CONTENTS WITH THE ISSUED,CALLABLE CUSTODIAL SAFEKEEPING RECEIPTS WITH PHYSICAL DELIVERY TO BE MADE THEREAFTER. WE HEREBY CONFIRM THAT THE FUNDS ARE GOOD, CLEAN AND CLEARED FUNDS OF NON-CRIMINAL ORIGIN AND ARE FROM A LEGAL SOURCE.THIS IRREVOCABLE S.W.I.F.T. IS A BINDING FULLY PERFORMED DUE BILL AND IS IMMEDIATELY CALLABLE ON US FOR CASH PAYMENT AGAINST THE BANK CERTIFIED INVOICE FOR THE RECEIVE AND ACCEPTANCE OF THE BANK INSTRUMENTS SPECIFIED BELOW:INSTRUMENTS:(TO BE NAMED)ISSUING BANKS: XXXXXXXXX BANKISSUER:(TO BE NAMED)CUSIP NUMBER: XXXXXXTERM: ONE (1) YEAR AND ONE (1) DAYINTEREST RATE: ZERO (0%) PERCENTBENEFICIARY:(TO BE NAMED)CONTENT: XXXXXXXXXXXXXXXTHIS CONDITIONAL IRREVOCABLE NON-DIVISIBLE, NON-ASSIGNABLE, NON-TRANSFERABLE AND CALLABLE S.W.I.F.T. WIRE TRANSFER IS VALID FOR FIFTEEN (15) BANKING DAYS FROM DD MMMMMM YYYY AND UNTIL DD MMMMMM YYYY, 17:00 GREENWICH MEANTIME (UK).THIS IS A NON-OPERATIVE BANK INSTRUMENT AND IS SUBJECT TO THE UNIFORM COMMERCIAL CODE AS IT RELATES TO BANK CREDIT INSTRUMENTS.FOR AND ON BEHALF OF THE ISSUING BANK:SIGN AND SEAL BY TWO BANK OFFICER
