5. THE RECEIVER’S BANK RECEIVES, CONFIRMS AND VERIFIES THE MT760 (BG/SBLC);THE RECEIVER'S BANK THEN RELEASES THE ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) FOR THE BENEFIT OF THE PROVIDER WITHIN TWO BANKING DAYS. PROVIDER THEN PAYS THE RESPECT 1% COMMISSION ON SELLER’S SIDE AND THE 1% COMMISSION OF RECEIVERS SIDE TO THE RESPECTIVE BROKERS/AGENTS. (SHOULD RECEIVER DEFAULT TO LEASE THE ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) WITHIN TWO BANKING DAYS AFTER RECEIPT OF SWIFT MT-760, PROVIDER SHALL INSTRUCT THE ISSUING BANK TO PUT A CLAIM ON THE BG/SBLC THEREBY FORCING THE RECEIVER'S BANKERS TO RETURN THE SWIFT MT-760 (BG/SBLC) TO THE ISSUING BANK.)
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