Contract Amount & Tranche Schedule: The contract amount is 250 billion VEF to be conducted via twotranches: the 1st Tranche being 20b VEF; and the 2nd Tranche being 230 billion VEF. The 2nd Tranche will beconducted immediately after the successful completion of the 1st Tranche, and provided that the Internetaccess codes to the VEF transferring account are provided to the USD Provider. Thereafter, the Parties havethe option to pursue rolls and extension on same terms and condition as the 2nd Tranche for any mutuallyagreed amounts. 3. Exchange Price: 1st Tranche of 20 Billion VEF will be exchanged for 3 RMB or every 213 VEF (approx.) to beexchanged for 1 USD, net to VEF provider; 2nd Tranche of 230 Billion VEF to be exchanged en bloc at the rateof every 100 VEF will be exchanged for 4 RMB or every 160 VEF (approx.) to be exchanged for 1 USD, net toVEF provider; plus a bonus of 1 RMB to be paid for every 100 VEF exchanged payable by Buyer in equivalentUSD to intermediaries of both USD and VEF sides. [NB: The aforementioned VEF:USD price is calculatedbased on the exchange rate of USD1 : RMB6.375] 3. Transaction Mode & Usage of Funds: VEF issues BCL for block funds in favor of USD Provider and USDProvider moving first via bank to bank transfer of USD in Hong Kong; after which, VEF Provider transfer VEFvia ledger‐to‐ledger at VEF Provider bank in Venezuela. The exchanged funds will be used to facilitate theParties’ investment and financing of their respective projects in Hong Kong, China and Venezuela.
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