PRIVATE CURRENCY EXCHANGE AGREEMENT MT103
TRANSACTION MODE: USD MOVES FIRST FROM BANK TO BANK
VIA SWIFT MT 103 WIRE TRANSFER.
PROCEDURES TO CLOSE
. PROCEDURES:
8.1. The Euro Provider will complete his part of this PFCEA draft contract, initial and sign it and send it to mandate holder of USD Provider, along with the signed Irrevocable Master Fee Protection Agreement (IMFPA) as in ADDENDUM “4”. The EUR Provider will fill in his account coordinates for receiving the foreign currency funds and for sending the EUR funds.
8.2. Euro Provider will, together with PFCEA document as in above 1., present the following so called Compliance Documents to USD Provider:
- Letter of Request
- Corporate CIS of EUR Provider, if EUR Provider is incorporated
- Individual CIS of Signatory
- Corporate Resolution in favor of Signatory, if EUR Provider is incorporated and disposes of a statutory board of directors or partners
- History of Funds
- Letter of Mandate, if mandate holder is employed, issued by EUR Provider or EUR Provider´s legal registered representative(s) that proves the mandatory power to represent EUR Provider
- Affidavit to cause EUR Provider´s Bank to send message per Swift MT 799 or other Swift format or other secure interbank messaging procedure acceptable to USD Provider´s bank within 5 banking days after receipt of countersigned PFCEA - maintaining however Swift message in case proposal made by EUR Provider´s Bank Officer is denied - according to the below assessed verbiage.
- Certificate of Incorporation that proves due registration of company and companies institutional representation, if EUR Provider is incorporated
- Colored and Legible Passport Copy of Signatory EUR P
Excepting the two last documents, generally forms of USD Provider should be used.
8.3. USD mandate holder will analyze, if EUR P, his signed documents and proof of funds are acceptable and complete. If they are, he proceeds. In case they are not. USD mandatory will invite EUR P to amend.
8.4. EUR provider will lodge a copy of the signed PFCEA contract with EUR provider´s bank and instruct them accordingly.
8.5. If requested by EUR Provider, USD Provider or his mandate holder will send to EUR Provider USD Provider´s CIS and History of Funds corresponding to those received from EUR Provider.
8.6. EUR Provider or his mandate holder will send within three banking days after receipt of countersigned PFCEA a message by fax or email to USD provider or his mandate holder under EUR provider´s full personal and corporate responsibility advising that his bank is ready to send the message as of 8.8. here below. With this message, he will inform of the day of sending, the name(s) of the sending bank officer(s) and bank officers contact details (phone, fax, email).
8.7. USD Provider will after receipt of message as of above 8.6. inform EUR Providers bank officer(s) of the name of the officer of USD Providers bank to whom to send the message as of 8.8. including the receiving bank officers necessary contact coordinates. EUR Provider´s bank officer is free to send a swift message MT 199 to USD Provider´s bank officer that announces readiness to start the operation and send the pre-advice as of 8.8. He may also propose to USD Provider´s bank officer using a secure messaging system other than Swift. Does USD Provider´s bank officer not explicitly accept by return swift message MT 199, the pre-advice as of 8.8. must be sent by Swift.
8.8. Euro Provider’s bank shall send latest within 7 banking days after receipt of countersigned PFCEA the following message via Swift MT 799 or other Swift format (other than “RWA”) or other secure interbank messaging procedure acceptable to USD Provider´s bank - maintaining however Swift message in case proposal made by EUR Provider´s Bank Officer is denied - according to the below prescribed text.
DESCRIPTION OF THE United States Dollars (USD) CURRENCY
CURRENCY: United States Dollars, Legal Tender of USA
ORIGIN OF CURRENCY: United States, of non-criminal origin
YEAR OF CURRENCY ISSUE: Current Valid Currency, in Circulation, Free from Any Liens and Encumbrances , Freely Tradable in any Country
CONTRACT QUANTITY: 50 Billion USD with mutually agreed on Rolls and Extensions
FIRST TRANCHE: Million USD
SUBSEQUENT TRANCHES: Per Tranche Schedule as Mutually Agreed in
Addendum “3”
II. TRANSACTION CONDITIONS:
Transaction mode: Bank to Bank (SWIFT MT103)
rate of exchange: Second Daily nominal effective exchange rate of Euro vs. USD, fixed by European Central Bank Frankfurt at 3:00 PM CET of the last banking day before exchange date.
BONUS: Gross 16.5 %. Net 10 % to Eur Provider
consultancy fees: Total of 6.5 % Split on 50/50 Basis
uSD PROVIDER sIDE: 3.25 % to USD Provider´s Side
EURO PROVIDER SIDE: 3.25 % to Euro Provider´s Side
fee Transaction Mode: From Euro-P´s Bank unconditionally to Paymaster.
USD MOVES FIRST WITH SWIFT MT103 TO EURO-PROVIDER’S BANK!
Per each $100 USD the Euro Provider shall pay the equivalent value in EUROS of
$ 83.5 USD on the day of each tranche.
ADDITIONAL TERMS AND CONDITIONS.
1. VOLUME OF TRANSACTION.
1.1.United States Dollars (USD) in the amount of Fifty Billion US Dollars
(US$ 50,000,000,000.00) with rolls and extensions by mutual agreement of the Parties.
1.2. Extensions to be agreed upon in writing at least five banking days prior to the intended exchange.
1.3. USD and Euro Provider desire to exchange the amount of USD and EUR stipulated in this agreement, until USD resp. Euros are exhausted, and cannot be held responsible if the amount the parties have determined is not reached.
2. EXCHANGE DATE.
Exchange date is the day when the SWIFT transfer of EUR funds is issued.
3. PARTIAL DELIVERY
The transaction will be executed and completed by partial deliveries in tranches. Tranches are to be made according to the Procedure as prescribed in Art. 8 of the Agreement and Addendum “3” or as mutually amended by the Parties.
4. TERM OF AGREEMENT
This Agreement remains in force and effect until completion of the transaction and is considered as legally binding upon the Parties, their heirs, successors and agents, principals, attorneys and all associated Parties involved in the transaction.
5. CODES OF IDENTIFICATION
Both parties agree that all documents related to this transaction bear the codes listed on page 01 of this Agreement and that the said codes remain unchangeable within this Agreement’s duration, including all rollovers, extensions and additions. This is true for the total amount of the face value of the contract (PFCEA) as well as for the total contract amount together with all variations, all rolls/rollovers, all renewals, all modifications, all extensions, all add-ons/additions and all renewed term/terms of contract including all new contracts entered into by the USD provider and the EURO euro provider, all parallel contracts and/or agreements, all cancellations and re-issues and all third party transfers whatsoever as per mutual written amendment agreement and / or agreements. In case codes are nevertheless changed, all parties and all other persons or entities involved, such as fee or commission beneficiaries and paymasters, are to be treated as if the codes had remained unchanged.
6. COSTS
Each Party, individually and separately, accepts liabilities on taxes, import, levies, duties or charges that may be applicable while in the execution of their institutional role.
- BANKING
7.1. The Foreign Currency Provider’s Bank coordinates will be shown in the
Addendum 1.
7.2. The EUR Provider’s Bank coordinates will be shown in Addendum 2.
FOR COMPLETE CONTRACT CONTACT - currencyexchangeproviders@gmail.com
