Letter Of Intent / Contract (Page 3 of 21) in pdf

ON THE LETTERHEAD OF THE BUYER

Transaction Code :

Seller’s Code:

Buyer’s Code:

(2% in total) as registered in this agreement will also be paid via MT 103 fund transfer (cash) to

their respective bank accounts.

8. Within seven (7) international bank days after confirmation of payment for BG, hard copies of the

Bank Instrument (BG) shall be delivered via bonded bank courier to the Buyer's designated and

nominated Bank.

9. Transactions and their settlement will continue according to above-noted procedures and pre-agreed

tranche schedule, until contracted collateral instruments are fully delivered.

10. Any unauthorized calls by any party or its representatives/lawyers to probe or communicate in an

improper way to the other party’s bank(s) in this transaction shall be prohibited and will be

justifiable grounds for termination of this LOI/contract.

11. This Letter of Intent is a full recourse commercial commitment governed by the Law of the

jurisdiction that both parties reside. This LOI is also governed by the standards under ICC

Regulations.

Should Buyer default to pay the purchase price to the Seller and the intermediaries’/consultants’

commission fees as agreed after 7 international banking days of confirmation of BG MT760 in

buyer’s bank account, Seller will instruct the issuing bank to put a claim on the BG thereby

forcing the buyer’s bankers to return the BG MT760 to the issuing Bank.

BUYER Obligations:

The BUYER, with full corporate and legal responsibilities, and under penalty of perjury, confirms that

he is fully aware of his financial ability and facilities with his bank when signing this LOI and/or other

agreements and documents with the SELLER.

The BUYER further confirms that the Seller is authorized to verify the funds of each tranche of

the Contract with his bank, if necessary. In the event of unsatisfactory verification, the transaction

will be suspended immediately and the Buyer is in breach of the Contract and liable for legal

consequences.

SELLER’s Obligations:

The SELLER with full corporate and legal responsibilities, and under penalty of perjury, confirms that

he is fully aware of the commitment of the Instruments when countersigning this LOI.

The SELLER further confirms to deliver the instruments, to negotiate and make proper arrangements to

continuously supply the instruments until the whole contracted volume is exhausted.

There will be no contact by either party to either bank without expressed written permission.

Both parties may change banking coordinates with written notice to the other party.

Buyer’s initial:

Page: 3/21

Seller’s

Initial:

Letter Of Intent / Contract Page 3