WHEREAS, the “Party B” confirms with legal and full corporate responsibility under the penalty of perjury, that the bank instruments, Bank draft, are backed up with funds which are clean, clear, and of non-criminal origin; The Bank draft will transfer by SWIFT system.
WHEREAS, the “Party A” further confirms that the under-mentioned accounts for the purchase of Bank Draft are free from any liens, unencumbered and was never used for any illegal activities under the current International Laws;
So, after valuable consideration of the here above mentioned premises, it had been agreed by Both Parties as follows:
ARTICLE 1 - PROCEDURES:
1 Buyer completes and duly signs this contractual AGREEMENT, enclosed with enlarged A4 Color Copy of Signatory Passport, with full details of bank coordinates, Corporate Resolution, NCND, Non-Solicitation and IMFA.
2 Seller countersigns this AGREEMENT and returns to Buyer with Seller’s company registration number and signatory’s passport, and this AGREEMENT automatically becomes a full commercial recourse CONTRACT.
3 Within Seven (7) banking days after signing the CONTRACT, Seller will deliver copy of the Bank Draft and related legal document to Buyer and Buyer’s Bank or and designated Transaction Bank option by Buyer, including a copy of Bank Draft Ownership Transfer Letter, this letter is signed by Seller to the Beneficiary of Buyer, as the sample text provided by Buyer.
4 After Buyer’s Bank performs the verification of the Bank Draft with Seller’s Bank, and upon satisfactory verification, within Three (3) banking days Buyer’s Bank shall issues MT103 field 23/ ICBPO to Seller via Seller’s Bank.
5 After receipt of MT103 field23 / ICBPO from Buyer’s Bank, Within Three (3) banking days, Seller shall send the hard copy of Bank Draft and Bank Draft Ownership Transfer Letter to Beneficiary of Buyer via Seller Bank to Buyer’s Bank with DHL.
6 After receipt of Hard Copy of Bank Draft and Bank Draft Ownership Transfer Letter, Buyer’s shall disburse the ICBPO and issue the unconditioned MT103 to Seller for payment.
7 Termination of Transaction.
ARTICLE 2 - BANKING COORDINATES
1. THE SELLER’S BANK /RECEIVING BANK
• Bank Name:
• Address:
• Telephone/Fax:
• Account Holder:
• Account No.:
• Swift Code:
• Bank Officer:
2. BUYER’S BENEFICIARY BANK / PAYMENT BANK
• Bank Name: (will provide)
• Address: (will provide)
Bangkok - Thailand
• Telephone/Fax: (will provide)
• Account Holder: (will provide)
• Account No.: (will provide)
• Swift Code: (will provide)
• Bank Officer: (will provide)
ARTICLE 3 – BANK-TO-BANK TRANSACTION:
The transaction shall be undertaken on a "Bank-to-Bank” basis following the execution of this agreement by both parties hereto and the exchange of the banking coordinates of the “Party A” and the “Party B”.
ARTICLE 4 - CONFIDENTIALITY:
Except as might be required by Law, neither the “Party A” nor “ Party B” shall not make any public or private announcement of this transaction nor to disclose any of the terms and conditions that are not already in the public domain without written consent of the other party.
ARTICLE 5 - LEGALITY OF FACSIMILE TRANSMISSION:
All electronically transmitted documents regarding business transactions pursuant to the commerce as herein or hereinafter contemplated, including these documents shall hold the same force and effect as original(s). Notwithstanding, in due course, the original documents shall be forwarded to each Party for signature(s).
ARTICLE 6 - INDEMNIFICATION:
Each Party hereto agrees to indemnify and hold each other harmless from actions, debts or liabilities caused or taken by them. Each Party shall be liable only for his own actions, debt or liabilities.
ARTICLE 7 - ASSIGNMENTS:
No Party shall assign this Agreement or any further contracts, or any part thereof, without the written consent of the other Parties hereto.
ARTICLE 8 – LAW:
This agreement shall be governed by and construed in accordance with the laws of the Kingdom of Thailand and Vietnam.
The "Party A" and the “Party B” have mutually agreed that the general standards of Non Circumvention and Non Disclosure Rules no. HR 3723 of the appropriate publication of the International Chamber of Commerce, Paris, France shall apply and such rules are incorporated hereto by virtue of reference
IN WITNESS WHEREOF, Both Parties affix their signatures to this agreement the day here above captioned to confirm and affirm their full understanding of this document. This Agreement consists of Nine (9) pages, not including the Master Fee Protection Agreement,
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