USD - EURO TRANSACTION (Cash or swift to cash)
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QUANTITY
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BILLION (B) UNITED STATES DOLLAR WITH
R&EXTENSIONS
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EXCHANGE RATE
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Second Frankfurt (ECB) Fixing of the
last banking day before transaction
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BONUS
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GROSS 20.0 %
(TWENTY PERCENT) NET / 15.0 % (TWELVE POINT FIVEPERCENT). THE NET BONUS IN
FAVOUR OF EUR PROVIDER; DIFFERENCE OF GROSS TO NET BONUS (5.0 %) TO BELOW
NAMED BENEFICIARIES.
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COMMISSIONS/FEE
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2,5 % (TWO POINT FIVE PERCENT) TO THE USD PROVIDER 1º.
1.00 % (ONE PERCENT) TO 2º.
1.5 % (ONE
POINT FIVE PERCENT) TO 3º.
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FIRST TRANCHE
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5 MILLION USD
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SECOND TRANCHE
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10
MILLION USD (second day)
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THIRD TRANCHE
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20 MILLION USD
(third day)
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FURTHER TRANCHES
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49.5 MILLION USD
PER DAY (OR AS AGREED BETWEEN PRINCIPALS) UNTIL FUNDS ARE EXHAUSTED.
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EXCHANGE
MODE :
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FIRST THREE TRANCHES SWIFT or CASH TO CASH, THEREAFTER SWIFT TO SWIFT WITH USD MOVING FIRST
CONDITIONALLY AND EUR FOLLOWING WITHIN SAME BANKING DAY UNCONDITIONALLY
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EXTRACT
THIS DOCUMENT IS ONLY INFORMATIVE, AND HAS NOT CONTRACTUAL VALUE
PROCEDURE
1.
EUR Provider will complete and sign this MOU with FPA and attach colour
copy of his valid passport. He will further send the following to USD P
or his mandate holder:
1.1. Client
Information Sheet of EUR P and his signatory with details on Company and
Signatory, full contact coordinates of both and Beneficial Owner (if other than
EUR P).
1.2. Affidavit
of History of Funds (a specific statement about how the funds were
generated and administered.)
1.3. Letter of Mandate, if any.
1.4. If required, USD Provider will present
corresponding documents to EUR Provider.
USD Provider and EUR Provider can
agree to present these documents no earlier that in TTM.
2. USD
P to complete and countersign the MOU.
3. The procedure to follow is this:
3.1. Immediately upon signature and
countersignature of MOU, EUR P will provide Proof of Funds for first tranche (5 M EUR) to USD Provider. This
can be done by bank tear sheet or bank statement, both signed by two bank
officers, no older than five banking days; or by SKR of a recognized Security
House, or by different proof acceptable to USD Provider.
3.2
Thereupon EURO
Provider or his representative will attend inspection and verification of USD
cash of first tranche in vault of USD Provider´s bank.
3.3
If USD
Provider or EUR Provider deem it advisable, providers or their authorized
representatives meet for a personal meeting (TTM), to be held in USD Provider´s
bank or as agreed.
3.4
Thereupon, EUR Provider will, under assistance
of USD Provider, and without delay, open
USD and EURO accounts at USD Provider´s
bank. Bank officer of USD Provider and EUR Provider should be preferably the
same person.
3.5
EURP will then deposit EUR
of first tranche into his account in
USDP’s bank and inform USD P of
readiness to transfer EUR to USD P’s account by transfer against the
USD amount to be paid according to this MOU.
3.6
USD Provider asks USD Provider´s bank
to exchange EUR and USD amounts due immediately.
3.7
EUR P and USD P may agree under the
prevailing international and national laws not to ledger amounts credited in
their respective accounts, but to exchange cash amounts from their their accounts .
3.8
The above procedure is repeated for
further tranches, except TTM.
3.9
After three tranches executed, parties
may agree to exchange USD and EUR using
a pure swift to swift procedure between different banks. In this case both
currencies are wired per MT 103. USD
moving first conditionally and EURO to follow unconditionally. Eur will be paid
on the same banking day. USDPV
transfers to EUR Provider the agreed on USD as counter value of EUR plus the net bonus defined. Before first
swift tranche from USDPV to EURPV, EURPV Bank sends MT 799 message to USD P
Bank assuring availability and transfer of corresponding EUR. Details to be
discussed and agreed on in above mentioned TTM. In case no agreement on
exchange mode after first tranches is reached, it is agreed to continue
exchange as above 3.5. through 3.7.
3.10 Condition
of Swift conditional USD transfer is the executed unconditional Swift transfer
of agreed on EUR to USD Provider. Therewith the conditional USD is released automatically.
4.
Simultaneously with trading of any tranche, commission fees of 7.50 %,
i.e. 2,5 % for USD P closed, 2.50 % for USD Intermediaries group(s) B. and 2.5
% for EUR Intermediaries group(s) C., will be paid by the USD Provider.
5. All commission fees will be paid per tranche,
simultaneously with tranche transfer to EUR Provider, in EURO or USD and by Swift wire to the
account coordinates to be provided by beneficiaries. Beneficiaries can ask for
cash payment on location of first three tranches. If USD is transferred by
Swift conditionally to EUR P, commission fees will also be transferred
conditionally to beneficiaries, simultaneously with swift wire transfer to EUR
P. No. 8 above applies correspondingly. If USD is transferred by Swift
unconditionally, commission will also be transferred unconditionally.
6. If a party to this MOU does not attend an
agreed on TTM or fails to perform under this
Agreement, the party is engaged
to pay to the other party all damages and
losses and additionally a penalty of 50 % of the first tranche, minimum three
Million Euros.
The Parties hereto shall not be liable for any failure
to perform under the “FORCE MAJEURE” Provisions of the ICC, Paris.
Mandate Holders, intermediaries or consultants are not
to be held liable for the MOU, its preparation, negotiation, execution or the
failure of a party to perform.
For the
avoidance of any doubt, the parties shall not be liable in any manner
whatsoever to both the other party and the facilitators, intermediaries or
consultants on either side in the event the transaction contemplated herein
might violate the laws or
banking rules and terms of the European Union or any country of it or any such other jurisdiction where this
transaction is expected to be originating from or to be delivered or closed
pursuant to this contract. Further, in such event this contract shall be deemed
automatically terminated without any right of claims or legal recourse on the
part of either of the parties herein. Any and all claims or right of legal
recourse of the facilitators, intermediaries and consultants of both the
parties shall also be deemed waived in such event.
- This document is a full recourse commercial contract concluded under the laws of the United Kingdom (British), which jurisdiction shall govern the construction, interpretation, execution, validity, enforceability, performance and other matters of the Agreement, including breach or claim of breach thereof. The Parties agree to have any such matter arbitrated under the rules of the Arbitration Court of the International Chamber of Commerce, in accordance with the rules and procedure of the said court. Judgment upon the award may be entered in any court having jurisdiction thereof. The parties hereto hereby waive any claim against or objection to in personal jurisdiction and venue in the courts of City of London and the United Kingdom. The signing parties hereby accept such selected jurisdiction as the exclusive venue.
PROVIDER,
MANDATE HOLDERS AND INTERMEDIARIES:
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COMMISSIONS
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% Of contract Value
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1º
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USD
Provider Principal
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Closed
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2.50%
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2.50 % ( Five percent of Total Contract
Value) distributed between the following beneficiaries/paymasters: (Euro side
commissions)
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2º
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USD
Mandate and his group
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Closed
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1.00%
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3º.A
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EUR
Mandate and his group
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1.00%
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3º.B
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EURO Group
#1 (Presented Euro)
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0.25%
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3º.C
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EURO
Group#2 (Presented Dollar)
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Closed
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0.25%
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TOTAL
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5.00%
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DOCUMENTS ARE- SWIFT Receiver Service. EUR / USD.
ReplyDeleteSWIFT Wire / MT103
SWIFT Wire / MT103-202 large amount
SWIFT Receiver Service. EUR / USD.
Guaranteed Payout.
SWIFT message format for financial institution (FI)
* SEPA INVESTMENT AGREEMENT (Both side sign)
* BANK INFORMATION LETTER (Investor / Sender gives Developer / Receiver)
* PGL (Payment Guarantee Letter) (which we issue to Investor / Sender)
* Korea Project funds are also available
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