TRANSACTION PROCEDURES:1 PATY B SUB

TRANSACTION PROCEDURES:
1 PATY B SUBMITS TO PARTY A THIS FILLED SIGNED AGREEMENT WITH CLIENT INFORMATION SHEET, CORPORATE BOARD RESOLUTION, NON-SOLICITATION LETTER, SIGNATORY'S PASSPORT COPY, CORPORATE REGISTRATION.
2 PARTY A FILLS ITS DETAIL IN THIS AGREEMENT AND RETURNS IT TO PARTY B, ALONG WITH PARTY A’S FULL BANKING COORDINATES, SIGNATORY'S PASSPORT COPY,CORPORATE REGISTRATION. PARTY B THEN SIGNS THE CONTRACT AND PARTY A COUNTERSIGNS AND RETURN THE CONTRACT, WHICH THEN BECOMES A FULL RECOURSE COMMERCIAL CONTRACT AND BOTH PARTIES SHALL LODGE THIS AGREEMENT WITH THEIR RESPECTIVE BANKS,
3 WITHIN THREE (3) BANKING DAYS AFTER THE CONTRACT ACCOMPLISHED, THE PARTY B SHALL CAUSE PARTY B'S BANK TO SEND THE POF/BCL/RWA VIA SWIFT TO PARTY A'S BANK. PARTY A CONFIRM PARTY B THE LINES OF CREDIT LOANS DUE DILIGENCE AND INSTRUCT THE ISSUING BANK SEND THE RWA OF THE BG TO PARTY B RECEIVING BANK VIA SWIFT MT799. PARTY B’S BANK THEN ISSUE ICBPO (PAYMENT BY MT103) TO PARTY A DESIGNATED ACCOUNT VIA MT799 AS REPLY AFTER THE CONFIRMATION IN THREE (3) BANKING DAYS. UPON RECEIVING THE MT-799, PARTY A INSTRUCTS ITS ISSUING BANK BARCLAYS BANK PLC LONDON, U.K. TO DELIVER THE FIVE HUNDRED MILLION EURO OF THE BG (THE 1ST TRANCHE) VIA SWIFT MT760 TO PARTY B’S RECEIVING AND LOAN BANK.
4 AFTER RECEIVING THE MT 799 OF ICBPO (APPENDIX B) FROM PARTY B THE PARTY A WILL INSTRUCT ITS ISSUING BANK TO SEND TO PARTY B’S DESIGNATED BANK RECEIVING ACCOUNT WITH FULL BANK RESPONSIBILITY DELIVERY OF BG BY SWIFT MT-760 AS PER APPENDIX C (PARTY A SHALL PROVIDE A COPY OF SAID MT760 TO PARTY B FOR TRACING).
5 WITHIN FIVE (5) BANKING DAYS AFTER CONFIRMATION OF THE ABOVE MT760, PARTY B’S PAYING BANK SHALL RELEASE THE AGREED FUNDS TO PARTY A VIA UNCONDITIONAL MT103 PAYMENT.
6 WITHIN SEVEN (7) BANKING DAYS OF RECEIPT OF AGREED PAYMENTS, PARTY A’S BANK SHALL SEND THE BG HARD COPY ORIGINAL TO PARTY B’S DESIGNATED BANK RECEIVING ACCOUNT BY BANK BONDED COURIER.
7 ALL SUBSEQUENT TRANCHES WILL BE BASED ON THE SAME PROCEDURES OR AGREED BY BOTH PARTIES, UNTIL COLLATERAL OR FUNDS BECOME EXHAUSTED.
8 ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS, OR AN IMPROPER SOLICITATION OR DISCLOSURE INVOLVING ANY OF THE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IMMEDIATE CANCELLATION OF THIS TRANSACTION AND SUBJECT THE VIOLATING PARTY TO DAMAGES.

WARNING NOTICE:
PARTY WHO FAILED TO PERFORM THIS CONTRACT, AS WELL AS TO FOLLOW THE EXACT TIME-SCHEDULES AGREED HEREIN, SHALL BE LIABLE FOR PAYMENT OF 2% PENALTY FEE OF THE AMOUNT OF TRANCHE IN DEFAULT OR FACE VALUE OF UNPERFORMED CONTRACT (IN CASE THE CONTRACT IS CANCELLED COMPLETELY), AS IS THE CASE, AND THE NON-PERFORMING PARTY´S PERSONAL DETAILS (INCL. COPY OF THE PASSPORT AND OTHER CORPORATE INFORMATION) WILL BE SUBMITTED TO THE INTERPOL AND OTHER INTER-GOVERMENTAL ORGANIZATIONS FOR INVESTIGATION AND INTEROGATION.
BANKING