MONETIZATION AGREEMENT

Transcription

1 TRANSACTION CODE: This agreement is made and entered into this parties described below: by and between the THE FUNDER Corporate Name: Mailing Address: Represented By: Designation: Passport No.: Nationality: Address: and THE CLIENT Full Name : AGENT: Title : Nationality : Passport No. : Issued Country : Issue Date : Expiry Date : Business Name : Business Address: Mobile Phone No.: Address : Legal Advisor s Name: Legal Firm Tel. No.: 1 of 6

2 Legal Firm My bank is listed in the International Banker s Almanac: Yes/No (If NO, you must prepare a closing bank with all details received from your banker sent to the provider.) All of my Closing Bank Officers are aware of this transaction: Yes/No WHEREAS. The CLIENT desires to Monetize a Bank Financial Instrument (BG/SBLC). The CLIENT confirms with full corporate and legal responsibility that funds available to fulfill the requirements for the monetization of the said instrument is ready. WHEREAS. The CLIENT desires to monetize, transfer and assign all rights, title and interest of the BG/SBLC available to it to the FUNDER. The FUNDER represents and warrants that it has the ability and resource to arrange through associates, contracts and sources, with full corporate responsibility, to monetize the financial instrument in the term of assignments to be provided to CLIENT. The CLIENT hereby declares under penalty of perjury that the BG/SBLC will be backed by funds that are good, clean, clear, and free of non-criminal origin, the BG/SBLC will be free and clear of all liens, encumbrances and third-party interests. NOW THEREFORE, The FUNDER has agreed to monetize the BG/SBLC at ( the Face Value for the instrument for Recourse Non-Recourse %) of TRANSACTION DESCRIPTION: CLIENT Code : Transaction Code : Face Value Amount : Type of Instrument : Issuing Bank : Instrument ID : SBLC MTN/BOND GUARANTEE Mode of Transfer :Swift Transfer of the Instrument by MT Term :1 YEAR 1 DAY Monetize : % less (2%) Commissions TRANSACTION PROCEDURE: 1. CLIENT will send a Letter of Intent to FUNDER with details of the financial instrument such as: Issuing Bank; Currency; Amount; Price. 2 of 6

3 2. FUNDER and CLIENT execute, sign and initial this Monetization Agreement, which thereby automatically becomes a full commercial recourse contract to be lodged by both parties for initiation of Swift Transmission. 3. After both parties sign the Agreement, FUNDER will send a Pre-Advice MT 799 a Readiness to send a Standby LC and CLIENT MONETIZER Bank will answer to Readiness to Accept the Standby LC thru MT 799 and FUNDER will simultaneously send Instrument to CLIENT MONETIZER via Swift MT 760. Upon receipt of the Swift and Authenticate, the CLIENT MONETIZER will initiate the process of Monetization. Within 72 Hour upon Authentication of the Swift, CLIENT MONETIZER will send the 5% of the Monetize Amount to the FUNDER as advance, once confirm receipt of the fund, FUNDER will send the Original Copy of the Instrument the CLIENT MONETIZER. 4. Upon Confirm receipt of the Original Copy of the Instrument, CLIENT MONETIZER will forward the % of the face value within 48 hours maximum to FUNDER Designated Account. 5. Any unauthorized calls by any party or its representative lawyers to probe or communication in an improper way to bank(s) in this transaction shall be prohibited and contract terminated and incomplete info the processing will not start. NON-SOLICITATION The CLIENT hereby confirms and declares that the FUNDER, its associates or representatives or any person or persons on its behalf has/have never ever solicited the CLIENT, its shareholders or associates or representatives in any way whatsoever that can be construed as a solicitation for this transaction or for future transactions. FORCE MAJEURE Any delay in or failure of performance by either party of their respective obligations under this agreement shall not constitute a breach hereunder or give rise to any claims for damages if, and to the extent that such delays or failures in performance are caused by events or circumstance beyond the control of such party. The term Beyond the Control of Such Party Include Lawful order of Government or Authority, Act of War, Rebellion or Sabotage, Fire, Flood, Earthquake or other natural disasters. Any other cause not within the control of such party or which is by exercise of reasonable diligence, the party will be unable to foresee or prevent or remedy. ARBITRATION All disputes and questions whatsoever which arises between the parties to this agreement and touching on this agreement on the construction or application thereof or any account cost, liability to be made hereunder or as to any act or way relating to this 3 of 6

4 agreement shall be settled by the arbitration in accordance with the arbitration laws of the ICC. This agreement contains the entire agreement and understanding concerning the subject matter hereof and supersedes and replaces all prior negotiations and proposed agreements, written or oral. Neither of the parties may alter, amend, nor modify this agreement, except by an instrument in writing signed by both parties. This agreement will be governed by and construed in accordance with the laws of United Kingdom. In the event that either party shall be required to bring any legal actions against the other it enforce any of the terms of this agreement the prevailing party shall be entitles to recover reasonably attorney fees and costs. PENALTIES If any party fails to perform his obligation as stipulated in this Contract will be considered as breach of Contract, the damaged party will entitle to claim the damaging penalty of Five (5) percent of the Face value of the Financial instrument. FOR AND ON BEHALF OF THE FUNDER Name: Passport No.: Country of Issue: Issue Date: Expiry Date: Client Passport Copy Attached as Annex A FOR AND ON BEHALF OF THE CLIENT Name: Passport No.: Country of Issue: Issue Date: Expiry Date: Client Passport Copy Attached as Annex B 4 of 6

5 FOR AND ON BEHALF OF THE CLIENT MONETIZER Name: Passport No. Country Issue: Issue Date: Expiry Date: CLIENT'S (Monetizer) Passport attached as Annex C The FUNDER and CLIENT agree to the following banking coordinates pertaining to the agreement herein above stated: CLIENT S MONETIZER BANKING COORDINATES TO RECEIVE INSTRUMENT: BANK NAME(MONETIZER): Bank Officer : CLIENT MONETIZER RESERVES THE RIGHT TO USE ANY BANK ACCOUNT TO RECEIVE. FUNDER AND CLIENT RESERVES THE RIGHT TO CHANGE THE BANK COORDINATES STATED HEREIN AT ANYTIME BY PROVIDING WRITTEN REQUEST TO THE UNDERSIGNED. 5 of 6

6 FUNDER BANK COORDINATES TO SENT MT 760 BANK NAME : BANK OFFICER : CLIENT S BANK COORDINATES TO ALL RECIEVE/SENT FUNDS BANK NAME : BANK OFFICER : CLIENT RESERVES THE RIGHT TO USE ANY BANK COORDINATES TO PAY FEES AND RECEIVE CLIENT S MONETIZER BANK COORDINATES TO ALL RECIEVE/SENT FUNDS BANK NAME : BANK OFFICER : CLIENT MONETIZER RESERVES THE RIGHT TO USE ANY BANK ACCOUNT TO RECEIVE. 6 of 6