Procedures as below:

1. Receiver fills and signs this agreement before the Provider countersigns the agreement which thereby becomes a full commercial recourse contract to be lodged by both parties for initiating the transmission of Swift.

2. Within Three (3) Banking Days after both parties sign the Agreement, provider will issue a Notarized signed and sealed Corporate Refund Recourse Undertaking duly endorsed by the issuing bank to the receiver guarantying to refund to the receiver all cost incurred by receiver as the Bank Transmission, Administrative & Handling charges for the transmission of the Pre-Advice via Swift MT799 or BG/SBLC via Swift MT760 or both after due execution of the contract and in case of failure on the providers side the Notarized signed and sealed Corporate Refund Recourse Undertaking guarantees that the provider refunds completely the transmission/administrative fees in addition to a the penalty for failure of performance being 1% of the Total Face Value of the BG/SBLC.

3. Within three (3) working days after the receiver receives from the provider, the Countersigned Contract alongside the signed and sealed Corporate Refund Recourse Undertaking, the receiver will make payment of the Bank Transmission, Administrative & Handling Charges for the Pre-Advice via Swift MT799 or BG/SBLC via Swift MT760 or both by direct wire transfer into the provider’s provided Bank Coordinates to receive Fees in the amount of Euro/USD XX,000.00.

4. Within two (2) banking days after confirmation of receipt of payment of the Bank Transmission, Administrative & Handling Fees for the Pre-Advice via Swift MT799 or BG/SBLC via Swift MT760 or both in provider’s bank account, the Provider will deliver the Pre-Advice and/or BG/SBLC via Bank-to-Bank confirmation of Swift MT799 and/or MT760 to the Receiver’s banker including the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days.

5. Receiver sends out issuance fees by Swift MT103 to the provider deducting the initially paid bank transmission/administrative fees and the brokers their commission fees (0.5 +X) % of total Face Value by wire transfer within Thirty (30) days upon delivery, confirmation and verification of BG/SBLC by MT760 in the receiver’s nominated account and BG/SBLC hard copy in the receiver’s nominated bank.

6. Should the receiver not deduct the bank transmission/administrative charges from issuance fees paid, the Provider shall refund bank charges to Receiver by direct wire transfer within three (3) banking days upon payment of the issuance fees.

7. 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 receiver default to pay the issuance fees to the Provider and the brokers commission fees as agreed after Thirty (30) banking days of confirmation of BG/SBLC MT760 in receivers bank account, Provider will instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Receivers bankers to return the BG/SBLC MT760 to the issuing bank.