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Bank Guarantee

  • Nigeria Nigeria  
  • Quantity Required: 1 Barrel
  • Annual Purchase Volume: 2 Barrel
  • Last Updated:
    Posted on: 12 Apr 2024

  • Buying Frequency: One time
  • Payment Terms: T/T
  • Shipping Terms: TT
  • Destination Port: Nigeria
Buyer Information

RFQ Details

BUYING PROCEDURE:


Seller and Buyer’ execute, sign and initiate the Deed of Agreement,
which thereby automatically becomes a full commercial recourse
contract agreement.

Within three (03) banking days, the Seller will issue Bank
Guarantee(BG) with Euro clear access code, ISIN and Common Code to
enable Buyer’ verify the BG.

Within three (03) banking days Buyer’will arrange to transfer 55,000
into Seller Funding Bank Account Detail for Cost to Validate BG
before RWA by Swift MT799.

within three (03) working days after receiving Euro 55, 000 , Seller’s
bank will issue RWA by swift mt799 pre advice which is a definition of
ability to issue and deliver BG in to Buyer nominated bank account

Within three bank days after receiving RWA by MT799 Buyer’ will
transfer Euro 100,000 for Call Option, Stock Testing fee and
transmission charges to issue full value cash back BG with Euro
clear access code and send via MT760 (ICC600 or latest version ) to
the Buyer’s bank. { Bank to Bank Swift }

Within Fifteen 15 bank days after receiving and verifying that MT760
(ICC600 or latest version), the buyer bank will release Payment of
Buying cost and commission by MT103 of 40+2% for Buying price.

Regards,
Johnson


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