LEDGER 2 LEDGER - 16_10 CLASSIC

-          Transaction mode:	Ledger-to-Ledger  - Classic
-          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 16.0 %. Net 10.0 % to Euro Provider
-          consultancy fees:	Total of  6 %.
-          uSD PROVIDEr:	2.5 % to USD Provider
-          ALL MANDATE HOLDERS  AND INTERMEDIARIES:	3.5 % to Mandates and Intermediaries, To be paid by EUR Provider.

     EXTRACT OF LEDGER TO LEGDER – “CLASSIC”

        THIS DOCUMENT IS ONLY INFORMATIVE, IT HAS NOT CONTRACTUAL VALUE

USD MOVES FIRST via LEDGER TO LEDGER IN USD-PROVIDER’S BANK

Per each $100 USD the Euro Provider shall pay the equivalent value in EUROS of 84 USD on the day of each tranche.

ADDITIONAL TERMS AND CONDITIONS.

4.         PROCEDURES:

4.1.           The Euro Provider will complete his part of this PFCE draft contract, initial and sign it and send it to the Foreign Currency Provider, along with the signed Irrevocable Master Fee Protection Agreement (IMFPA) as in ADDENDUM “3”. 

4.2.            Euro Provider will, together with PFCEA document as in above 1., present  the f                           ollowing   so called Compliance Documents to USD Provider:

Ø  Letter of Request

Ø  CIS of EUR Provider 

Ø  Certificate of Incorporation that proves due registration of company and companies institutional representation, if EUR Provider is incorporated

Ø  Corporate Resolution of Board of Directors or Partners  in favour of Company Signatory, if EUR Provider is incorporated and company’s signatory is not identical with statutory registered representative

Ø  Legible Colour Copy of valid Passport of EUR Provider (when natural person), of EUR Provider´s signatory, whether registered or appointed, and of Mandate Holder (if different from EUR Provider Signatory).

4.3.            USD Provider will, if acceptable, countersign the PFCEA.

4.4.           USD Provider will lodge a copy of the signed PFCEA contract with the transactional bank.

4.5.       After lodging of this PFCEA, and in preparation of the Exchange:

4.5.1.    EUR Provider will deposit EUR in the amount of €250,000 into his to-be- opened account in the Transaction Bank.

4.5.2.    This amount will be sent by bank wire into a trust account of a recommended attorney or notary public named by the Transaction Bank.

4.5.3.    Exact coordinates of the account (Account Name and Number, and Swift Code) will be made available to the EUR Provider by the Transaction Bank.

4.5.4.    The deposited amount will be used only for credit to EUR Provider´s to-be-opened transactional account. The deposited amount, without any deductions, will be refunded to EUR Provider immediately if for any reason a EUR Provider´s transactional account is not opened. USD Provider undertakes to personally guarantee this statement without restriction.

4.6.       Thereupon USD Provider´s Bank will invite EUR Provider in person or his legal representative in case EUR Provider is incorporated to attend a personal meeting (TTM) with the authorized representative(s) of the bank, the USD Provider and/or his mandate holder and the entrusted attourney or notary public to be held in the transactional bank or in the offices of the involved attourney or notary public.  

4.7.       Table Top Meetiong (TTM) Proceedings:

4.7.1.  This PFCEA will be signed on hard copies. EUR Provider will share the  fees of attourney/notary public with 5000.- EUR. An equivalent will be borne by the USD Provider.

4.7.2.  EUR Provider will   sign , in presence of bank officer(s), all necessary forms for opening of account(s). The EUR Provider submits all necessary documents for the account opening. Bank officer of USD Provider and EUR Provider should preferably be the same person.

4.7.3.  All pending details for the exchange will be discussed and agreed.

4.8.       The EUR Provider will then deposit the necessary EUR of first tranche into his new EUR account and will inform the USD Provider of the deposit. 

4.9.       USD Provider’s bank officer, after deposit of EUR, will verify and authenticate the tranche of EUR received on  EUR Provider´s account. USD Provider´s bank officer (who will preferably be the same officer for USD Provider and EUR Provider) will thereafter execute the ledger transfer of EUR and USD in accordance with 4.10. and the other terms, conditions and banking instructions within this agreement. 

4.10.     USD Provider's Bank Officer shall move the agreed amount of first USD tranche by ledger transfer from the USD-P's USD account to the EUR-P's USD account.

4.11.     EUR Provider´s bank officer will execute the transfer  of EUR, corresponding to the provisions of this agreement, to the EUR account of USD Provider.

4.12.     Following tranches will follow the same procedure. USD Provider will transfer his USD by ledger account transfer to the EUR Provider´s account as per tranche schedule or as mutually agreed until USD is exhausted or the PFCEA is completed.

4.13.     CONSULTANCY FEES:

Commissions/fees will be paid to the beneficiaries as per addendum “3”.

PROVIDER, MANDATE HOLDERS AND INTERMEDIARIES:
COMMISSIONS			% Of contract Value
1º	USD Provider Principal	Closed	2.50%
3.50 % ( Three and a half percent of Total Contract Value) distributed between the following beneficiaries/paymasters: (Euro side commissions)
2º	USD Mandate and his group	Closed	1.75%
3º.A	EUR Mandate and his group		1.15%
3º.B	EURO Group #1 (Presented Euro)		0.30%
3º.C	EURO Group#2 (Presented Dollar)	Closed	0.30%
TOTAL			6.00%