SBLC DEED OF FINANCE AGREEMENT
SBLC DEED OF FINANCE AGREEMENT
This SBLC Deed of Finance Agreement (hereinafter referred to as “Agreement”) is executed without prejudice or conflict of interest, duly understood and signed by both Parties acting at their own accord on маy 30, 18 by and between:
THE BORROWER’S/PARTY A INFORMATION
PAA CAPITAL GMBH
Ludwigsplatz 5, 6747 Worms, Germany
Herein named as the "Party A", hereby confirm, with full legal responsibility, under penalty of perjury of law that we are ready, willing and able to deliver the following Bank instrument, under the terms and conditions described below, based on good, clean, clear unencumbered funds of non-criminal origin;
--- AND ---
THE LENDER’S/PARTY B INFORMATION
BLACK TULIP TRADING CO.
AMMAN JORDAN GARDENS STREET NASSAR BUILDING 82
COMPANY REG. NO:
MOHAMMAD YUSRI THAFER MOSHTHA
DIRECT TEL NO:
Herein named as the "Party B", hereby confirm, with full legal responsibility, under penalty of perjury of law that we are ready, willing and able to fund against the following Bank instrument, under the terms and conditions described below with good, clean, clear, unencumbered funds of non-criminal origin.
Party A and Party B may sometimes hereinafter be referred to individually as a “Party” and collectively as “Parties” or “both Parties”.
WHEREAS, in consideration of the promises and the mutual covenants, warranties, terms and conditions herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto declare that they are desirous of entering into this Agreement, whereby Party A agrees to provide to Party B, and Party B agrees to receive from Party A that certain Standby Letter of Credit (the “SBLC”), which is more particularly described in the Specification of Financial Instrument section below. (hereinafter the “Financial Transaction”).
WHEREAS, the Parties are willing to cooperate with each other in this Financial Transaction; Party A acknowledging has arranged via a third-Party provider and guarantor that it has Bond Power to assign SBLC to the Party B on behalf of Party A, and Party B acknowledging that it has its own adequate funds and/or funding facility to fund as agreed the amount agreed herein to Party A.
WHEREAS, Party A confirms and warrants under full legal authority, under penalty of perjury, that the SBLC is (or when issued) will be owned by, or 100% under the control of to use and/or to dispose of at Party A’s sole discretion and that the legal tender funds backing the SBLC are all derived from legal sources and not from any illegal drug traffic or money laundering activities, terrorist group or association and neither from any other criminal activity, and Party A further confirms that such funds are good, clean, clear, of non-criminal origin, having no liens, charges, taxes or encumbrances against them and are freely transferable and provide this indemnification accordingly.
WHEREAS, Party B confirms and warrants under full legal authority, under penalty of perjury, that Party B’s funds are Group owned funds and or 100% under control of Party B’s affiliates / shareholders to use and/or dispose of at Party B’s sole discretion and that the legal tender funds available in Party B’s appointed Bank are all derived from legal sources and not from any illegal drug traffic or money laundering activities, terrorist group or association and neither from any other criminal activity, and Party B further confirms that the funds are good, clean, clear, of non-criminal origin, having no liens, charges, taxes or encumbrances against them and are freely transferable and provide this indemnification accordingly.
WHEREAS, Party A is ready, willing and able to deliver the SBLC and hereby accepts Party B’s willingness to fund the SBLC by issuing and transferring all the rights on SBLC title as beneficiary and any other interest to Party B in accordance with the terms and conditions set forth in this Agreement.
WHEREAS, the Parties hereto declare that each of them has the right to use or choose whatever company assigned for this Financial Transaction and each of them is legally empowered and fully authorized to execute and accept this Agreement and agrees to be bound by its terms and conditions.
WHEREAS, Party B with signature confirms that they have the full authority and control to enter and act in accordance with the contractual obligation and that they are not acting as a broker, Party A, facilitator, consultant or middleman. Party B will ensure that all payments are paid in United States Dollars into Party A’s provided Bank account.
NOW THEREFORE through amicable consultation and under the principle of mutual trust, equality and reciprocity, the Parties have entered into this Agreement, subject to the following terms and conditions:
INSTRUMENT: CASH BACKED STANDBY LETTER OF CREDIT (SBLC)-ICC 600 FORMAT
ISSUING BANK: BANK WINTER
INTEREST RATE: ZERO PERCENT (0%)
TOTAL VALUE: ONE MILLION (1,000,000.00) USD/EURO WITH ROLLS AND EXTENSIONS
TERM: A YEAR AND A DAY OR AS AGREED
RECEIVING BANK: ARAB JORDAN INVESTMENT BANK
SWIFT CODE: AJIBJOAX
ACCOUNT NO: 226-231193-1-548-0
ACCOUNT NAME: BLACK TULIP TRADING CO.
SIGNANORY: MOHAMMAD YUSRI THAFER MOSHTHA
DELIVERY: MT 799 PRE-ADVICE / MT 760 and Hard Copy
PAYMENT: SWIFT MT 103
AGREED AMOUNT: FORTY PERCENT (40%) OF THE FACE AMOUNT OF SBLC
PAYMENT TERM: NON RECOURSE, 40% WITHIN SEVEN (7) BANKING DAYS OF DELIVERY AND AUTHENTICATION OF THE SBLC.
The SBLC is 100% cash-backed with rolls and extensions by mutual agreement of the Parties.
BANKING COORDINATES AS SPECIFIED HEREIN ARE FINAL AND CANNOT BE AMENDED AFTER EXECUTION OF THIS AGREEMENT.
ALL TRANSFER INSTRUCTIONS SHALL STATE:
“THE REMITTER IS KNOWN TO US. THIS IS DONE WITH FULL BANKING RESPONSIBILITY AND WE ARE SATISFIED AS TO THE SOURCE OF FUNDS TO US.
FUNDS ARE CLEAN AND CLEAR, EARNED FROM FINANCIAL CONSULTING FEES ON COMMERCIAL ENTERPRISES OF NON-CRIMINAL ORIGIN, AND ARE PAYABLE IN CASH IMMEDIATELY UPON RECEIPT BY BENEFICIARY’S BANK RESPONSIBILITY AND WE ARE SATISFIED AS TO THE SOURCE OF FUNDS TO US.”
PARTY A’S BANKING CO-ORDINATES FOR ISSUING SBLC SWIFT MT 760:
PARTY A BANK DETAILS FOR RECEIPT OF PAYMENT:
Fidor Bank AG
Sandstr. 33, 80335 Munich, Germany
BANK OFFICER TEL:
+49 89 189 085 233
BANK OFFICER EMAIL:
THE REMITTER IS KNOWN TO US. THIS IS DONE WITH FULL BANKING RESPOSIBILITY AND WE ARE SATISFIED AS TO THE SOURCE OF FUNDS TO US.
FUNDS ARE CLEAN AND CLEAR, EARNED FROM FINANCIAL CONSULTING FEES ON COMMERCIAL ENTERPRISES OF NON-CRIMINAL ORIGIN, AND ARE PAYABLE IN CASH IMMEDIATELY UPON RECEIPT BY BENEFICIARY’S BANK.RESPOSIBILITY AND WE ARE SATISFIED AS TO THE SOURCE OF FUNDS TO US.
PARTY B’S BANK DETAILS FOR RECEIVING RWA EMAIL, MT 799 and
SBLC MT 760:
The Party B has no right to change the Bank coordinates stated here-under once the contract is executed
ARAB JORDAN BANK
AMMAN-SIXTH CIRCLE-ZAHRAN STREET P.O. BOX 8797 AMMAN 11121 JORDAN
BANK OFFICER NAME
BANK OFFICER EMAIL
BANK OFFICER PHONE / FAX
CO-ORDINATES WHERE PARTY A IS TO SEND NOTICES TO THE PARTY B:
DIRECT EMAIL :
CO-ORDINATES WHERE PARTY B IS TO SEND NOTICES TO THE PARTY A:
Ludwigsplatz 5, 67547 Worms, Germany
+49 177 1706645
STANDARD TERMS AND CONDITIONS:
***** SIGNATURE PAGE *****
In witness where of the Parties executed this agreement as of the date above written and signed on this day May 30, 2018
For and On behalf of the PROVIDER For and On behalf of the LENDER
LANGUAGE OF OFFICIAL MT 799 TO BE SENT FROM PARTY A BANK
SAMPLE SWIFT MT-799
(Text may vary in substance, but the essential undertaking must be maintained)
SWIFT INPUT: FIN 799 FREE FORMAT MESSAGE
RECEIVER: TO BE ADVISED
: 20: TRANSACTION REFERENCE NUMBER
DRAFT FOR REVIEW ONLY
: 79: NARRATIVE
PLS RELAY THIS MSG TO:
ACCOUNT NO.: XXXXXXXXX
ACCOUNT NAME: XXXXXXXXXX
BANK OFFICER: XXXXXXXXX
BY ORDER OF OUR CLIENTS XXXXXXXXXXXXXXXXXXXX PLEASE INFORM YOUR CLIENT XXXXXXXXXXXXXXXXXXX THAT OUR CLIENT WOULD BE READY WILLING AND ABLE TO ISSUE A BANK GUARANTE (BG) or LETTER OF CREDIT (L/C) or STANDBY LETTER OF CREDIT (SBLC) IN THEIR FAVOUR FOR AN AMOUNT OF USD/EUR 000.000,-- IN CONNECTION WITH XXXXXXXXXXXXXXXXXXXXXXX
THIS BG/L/C/SBLC SHALL BE OPENED BY US UPON FULFILMENT OF ALL BANK OBLIGATIONS OF OUR CLIENT TOWARDS US AND RECEIPT OF OUR CLIENT'S WRITTEN AND ACCEPTABLE INSTRUCTIONS AND RECEIPT OF CHARGES FOR THE BG/L/C/SBLC NOT LATER THAN MM-DD-YYYY (TWO WEEKS AFTER ISSUANCE)
THIS MESSAGE IS ONLY FOR INFORMATION AND DOES NOT CONSTITUTE ANY OBLIGATION OR LIABILITY FOR OUR BANK.
BANK WINTER + CO.AG
OFFICIAL BANK MT 799 ANSWER-BACK
BANK NAME: XXXXXXXX
BANK ADDRESS: XXXXXXXX
BANK TEL: XXXXXXXX
BANK EMAIL: XXXXXXXX
BANK OFFICER: XXXXXXXX
ACCOUNT NAME: XXXXXXXX
ACCOUNT NO: xxxxxxx
ROUTING NUMBER: NA
TRANSACTION CODE: : ANR-ABDOV-20M-4420
SBLC NUMBER: XXXXXXXX ????
IN REFERENCE TO YOUR MT 799 INQUIRY – PRE ADVISE OF SWIFT MT 760 CONFIRMATION AND DELIVERY OF STAND BY LETTER OF CREDIT TO BE ISSUED BY YOUR BANK UNDER THE HEREIN REFERENCED CODES, TRANSACTION CODE NO: : xxxxxxx WE, …….BANK, LOCATED AT ………………… …… HEREWITH CONFIRM WITH FULL BANK RESPONSIBILITY AND LIABILITY THAT WE ARE READY, WILLING AND ABLE TO RECEIVE YOUR SWIFT MT 760 CONFIRMATION AND DELIVERY OF STAND BY LETTER OF CREDIT FOR THE BENEFIT AND CREDIT OF OUR CLIENT, …………………, ….. WITH ACCOUNT # ………………..
YOURS VERY TRULY, FOR AND BEHALF OF: XXXX
BANK OFFICER 1 BANK OFFICER 2
TITLE (PIN) TITLE (PIN)
SWIFT MT760 DELIVERY SBLC
BANK NAME: BANK WINTER UND CO. AKTIENGESELLSCHAFT
BANK ADDRESS: SINGERSTRASSE 10 VIENNA 1010
AMOUNT: EURO 1,000,000.00 (ONE MILLION EURO ONLY)
DATE OF ISSUE: 00/00/2018
DATE OF EXPIRATION: 00/00/2019
PLACE OF EXPIRY: AT OUR COUNTERS, IN VIENNA, AUSTRIA
WE, BANK WINTER + CO. AG, VIENNA, AUSTRIA, HEREBY IRREVOCABLY AND UNCONDITIONALLY (EXCEPT AS STATED HEREIN BELOW) WITHOUT PROTEST OR NOTIFICATION PROMISE TO PAY AGAINST THIS STANDBY LETTER OF CREDIT NO. XXXXXX IN FAVOR OF XXXXXXXXXXXXXXXXX, THE OFFICES, (HEREIN AFTER REFERRED TO A BENEFICIARY) ISSUED BY THE ORDER OF XXXXXXXXXXX (HEREIN AFTER REFERRED TO AS THE APPLICANT), THE SUM OF EUR 1,000,000.00 (ONE MILLION EUROPEAN UNION EUROS) UPON PRESENTATION OF AN AUTHENTICATED COPY OF THIS STANDBY LETTER OF CREDIT AT OUR COUNTERS IN VIENNA, ON EXPIRY DATE I.E.,XX.XX.2019 BUT NOT EARLIER THAN FIFTEEN (15) DAYS BEFORE EXPIRY DATE ACCOMPANIED BY APPLICANTS CONFIRMATION OF FULFILLMENT OF THE OBLIGATIONS BY BENEFICIARY TOWARDS BUYER/PARTY SENT BY US VIA AN AUTHENTICATED SWIFT TO BENEFICIARY.
THIS SWIFT MESSAGE WILL BE ISSUED ONLY, UPON RECEIPT OF APPLICANTS ACCEPTABLE INSTRUCTIONS AND APPLICANTS FULFILLMENT OF OBLIGATION TOWARDS THE ISSUING BANK.
SUCH PAYMENT SHALL BE MADE WITHOUT SET-OFF AND CLEAR OF ANY DEDUCTIONS, CHARGES, FEES OR WITHHOLDINGS OF ANY NATURE, NOW OR HEREINAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR ASSESSED BY THE GOVERNMENT OF THE ISSUING BANK OR ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN. THIS SBLC IS NEGOTIABLE, ASSIGNABLE, DIVISIBLE, CALLABLE AND TRANSFERABLE WITHOUT PRESENTATION TO US AND WITHOUT THE PAYMENT OF ANY TRANSFER FEES
THIS STANDBY LETTER OF CREDIT IS SUBJECT TO UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDIT (LATEST REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO.: 600
THIS IS AN OPERATIVE INSTRUMENT NO MAIL CONFIRMATION WILL FOLLOW.
BANK WINTER AND CO.AG VIENNA, AUSTRIA
END OF AGREEMENT
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Signed by PAA CAPITAL GROUP
Signed On: May 30, 2018
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Document Name: SBLC DEED OF FINANCE AGREEMENT
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