DESCRIPTION OF THE INSTRUMENTS:

1.     INSTRUMENT:  BANK GUARANTEE (BG) OR STANDBY LETTER OF CREDIT (SBLC) from Barclays, hsbc, deutsche, etc

2.     TOTAL FACE VALUE:   EURO/USD 15 million

3.     AGE:                 FRESH CUT

4.     SALE PRICE:    DEPENDING ON TRANCH VALUE PLUS SELLER AND BUYER COMMISSION

5.     DELIVERY:      BANK TO BANK SWIFT MT799 AND/OR MT760

6.     PAYMENT:       ICBPO / MT103/23

7.     HARD COPY:   BY BANK BONDED COURIER WITHIN 7 BANKING DAYS AFTER DELIVERY OF SWIFT.

PROCEDURES:

1.     SELLER AND BUYER EXECUTE, SIGN AN INITIAL A DEED OF AGREEMENT WITH CIS, PASSPORT COPY, FULL BANKING DETAILS  WHICH THEREBY AUTOMATICALLY BECOMES A FULL COMMERCIAL RECOURSE CONTRACT AFTER BUYER APPLICATION HAVE BEEN ACCEPTED BY THE SELLER.

2.     AFTER BOTH PARTIES SIGN THE AGREEMENT, SELLER WILL ISSUE A NOTARIZED SIGNED AND SEALED CORPORATE REFUND RECOURSE UNDERTAKING DULY ENDORSED BY THE ISSUING BANK OFFER TO THE BUYER GUARANTYING TO REFUND TO THE BUYER ALL COSTS INCURRED BY BUYER AS THE FEES FOR THE LIQUIDATION OF BLOCKED FUNDS IN THE SALE OF THE BG/SBLC AFTER DUE EXECUTION OF THE CONTRACT AND IN CASE OF FAILURE ON THE SELLER’S SIDE THE NOTARIZED SIGNED AND SEALED CORPORATE REFUND RECOURSE UNDERTAKING GUARANTEES THAT THE SELLER REFUNDS COMPLETELY THE TRANSMISSION/ADMINISTRATIVE FEES IN ADDITION TO A THE PENALTY FOR FAILURE OF  PERFORMANCE BEING 2% OF THE TOTAL FACE VALUE OF BG/SBLC.

3.     UPON THE BUYER RECEIVING THE CONTRACT DOCUMENTS INCLUDING THE INVOICE AND REFUND UNDERTAKING FROM THE SELLER, THE BUYER WILL MAKE PAYMENT BY DIRECT WIRE TRANSFER INTO THE SELLER’S PROVIDED BANK CORDINATES FOR THE RECEIVING OF FEES, THE FEES FOR THE LIQUIDATION OF BLOCKED FUNDS IN ACCORDANCE WITH THE SCHEDULE OF FEES CONTAINED IN THE CONTRACT IN THE AMOUNT OF EURO/USD XX,000.00 AND WILL PROVIDE THE SELLER A COURTESY COPY FOR THE CONFIRMATION OF PAYMENT OF FEES.

4.     ONCE BUYER PROVIDES SELLER WITH THE COURTESY COPY OF CONFIRMATION OF PAYMENT, SELLER WILL DELIVER THE BG/SBLC VIA BANK TO BANK CONFIRMATION OF SWIFT MT799 OR MT760 TO THE BUYER’S BANKER WITHIN 72 HOURS OF RECEIVING A COURTESY COPY OF THE PAYMENT CONFIRMATION.

5.     ONCE BUYER RECEIVES BG VIA SWIFT MT799 OR MT760 IN THEIR RECEIVING BANK, BUYER SENDS CONDITIONAL MT103/23 OR ICBPO FOR PAYMENT OF SALES PRICE OF THE BG/SBLC THE SELLER DEDUCTING THE INITIALLY PAID FEES FOR THE LIQUIDATION OF BLOCKED FUNDS FROM THE SELLER’S AND THE BROKERS THEIR COMMISSION FEES (AS AGREED IN %) OF TOTAL FACE VALUE BY DIRECT MT103 WITHIN 7 BANKING DAYS OF THE DELIVERY OF THE BG OR SBLC BY SWIFT MT799 AND/OR MT760 IN THE BUYER’S NOMINATED ACCOUNT.

6.     BUYER VALIDATES, CONFIRMS AND VERIFIES THE TRANSMITTED MT799 AND/OR MT760 AND UPON SUCCESSFUL VERIFICATION OF THIS RELEASES THE CONDITIONAL MT103/23 PAYMENT OR ICBPO TO THE LESSOR WITH 48 HOURS.

7.      UPON SUCCESSFUL CONFIRMATION OF THE ICBPO OR CONDITIONAL MT103/23 BY THE SELLER, SELLER’S BANK WILL SEND THE HARD COPY OF THE BG/SBLC TO THE BUYER’S BANK VIA BANK TO BANK BONDED COURIER.

8.     THE NEXT TRANCHE WILL BEGIN UPON SUCCESSFUL COMPLETION OF THE PRECEEDING TRANCHE AS WILL BE AGREED BETWEEN THE SELLER AND THE BUYER FOLLOWING THE PROCEDURES AS STATED ABOVE.

9.   ANY UNAUTHORIZED CALLS BY ANY PARTY OR ITS REPRESENTATIVE LAWYERS TO PROBES OR COMMUNICATION IN AN IMPROPER WAY TO BANK(S) IN THIS TRANSACTION SHALL BE PROHIBITED AND CONTRACT TERMINATED.

SHOULD THE BUYER DEFAULT TO PAY THE SALES FEES TO THE SELLER AND THE BROKERS COMMISSION FEES AS AGREED AFTER 7 BANKING DAYS OF CONFIRMATION OF BG/SBLC MT760 IN BUYER’S BANK ACCOUNT, SELLER WILL INSTRUCT THE ISSUING BANK TO PUT A CLAIM ON THE BG/SBLC THEREBY FORCING THE BUYER’S BANKERS TO RETURN THE BG/SBLC MT760 TO THE SENDING BANK.