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I have got a new Provider. His procedure is very simple and must be very attractive for your bank. All banks will surely welcome it. Moreover, all credit-worthy clients and their banks had been asking for it since long.

All Providers usually require Escrow or BCL collateral before sending MT799 Pre-Advice, as client banks do not activate credit facilities of their clients without such a Pre-Advice from our Top Primary Issuing banks. This Provider has devised this revolutionized procedure to send MT799 RWA first through the Issuing bank, HSBC or Barclays to your bank simply on receipt of your LOI/DOA without any Escrow or BCL or any other Collateral.

This Provider wants just LOI filled by you and his bank will send MT799 RWA to your bank FIRST. Then your bank has to respond it by MT799 Bank Guarantee of above Verbiage.

TRANSACTION PROCEDURES

1            PARTY B SUBMITS TO PARTY A THISSIGNED AGREEMENT,TOGETHER WITH CLIENT INFORMATION SHEET, CORPORATE BOARD RESOLUTION, NON-SOLICITATION LETTER, SIGNATORY'S PASSPORT COPY, CORPORATE REGISTRATIONANDTHEIRREVOCABLE MASTER FEE PROTECTION AGREEMENT AND PAY ORDER.

 2            AFTER COMPLETED DUE DILIGENCE, PARTY A COUNTERSIGNS THIS AGREEMENT AND IT THUS BECOMES A FULL RECOURSE COMMERCIAL CONTRACT AND RETURNS IT TO PARTY B, ALONG WITH PARTY A’SFULL BANKING COORDINATES TO PARTY B, AND THE SIGNATORY’S PASSPORT COPY. BOTH PARTIES SHALL LODGE THIS AGREEMENT WITH THEIR RESPECTIVE BANKS.

 3            ON CONFIRMATION OF CONTRACTS LODGED IN RESPECTIVE BANKS  PARTY A WILL DELIVER THE RWA  PRE-ADVICE VIA SWIFT MT799 TO PARTY B’s BANKING COORDINATES.                                                                                                                                                                     

4            AFTER PARTY B’s BANK RECEIVES RWA PRE-ADVISE MT-799 PARTY B’s BANK SHALL RELEASE MT-799 PAYMENT UNDERTAKING FROM PARTY B’s  BANK.

 UPON CONFIRMATION OF MT-799 PAYMENT UNDERTAKING PARTY A’s BANK SHALL RELEASE MT-760 TO PARTY B’s BANK

 5            UPON AUTHANTICATION OF MT-760 .PARTY B’S PAYING BANK SHALL RELEASE THE AGREED FUNDS TO PARTY A’S DESIGNATED ACCOUNT VIA UNCONDITIONAL MT103 PAYMENT, AND SIMULTANEOUSLY PARTY B PAYS THE CONSULTING FEES PER EACH TRANCHE TO THE CONSULTANTS AS PER THE RELEVANT IRREVOCABLE MASTER FEE PROTECTION AGREEMENT & IRREVOCABLE CORPORATE PAYMENT ORDER.

 6            WITHIN SEVEN (7) BANKING DAYS OF RECEIPT OF AGREED PAYMENTS, PARTY A’S BANK SHALL SEND THE BG HARD COPY ORIGINAL TO PARTY B’S DESIGNATED BANK RECEIVING ACCOUNT BY BANKBONDED COURIER.

7            ALL SUBSEQUENT TRANCHES WILL BE BASED ON THE SAME PROCEDURES OR AGREED BY BOTH PARTIES,UNTIL COLLATERALORFUNDSBECOME EXHAUSTED.