PROCEDURE:(GPI MT103 With Code)
2.1. Party-A & Party-B both sign & execute the Joint Venture Investment Agreement. This Investment Agreement, which thereby automatically becomes a full commercial recourse contract.
2.2. Within three (3) banking days, the Party-B’s bank officer delivers “Conditional Bank Endorse Corporate Payment Guarantee Letter” (PGL) for each tranche separately to the Party-A’s Paymaster Bank officer via email.
2.3. After accepting and successful verification and authentication of “Conditional Bank Endorse Corporate Payment Guarantee Letter” by the Party-A, within seven (7) banking days, Party-A delivers the first tranche of funds via GPI SWIFT MT103 WITH CODE and the Party-A sends below documents to the Party-B’s.
- SWIFT Message Copy
- Screen Shot with final code (black)
- Remittance Advice
- GBS Receipt
- Balance Sheet
2.4. The Party-B’s bank complete download and is fully responsible for blocking funds at the Party-B’s account for full redistribution for re-investment purposes via SWIFT MT103(T/T) full payment within three (3) banking days after transfer the funds of cash, according to the conditions of the Agreement.
2.5. Within three (3) banking days the Party-B’s bank remits re-investment to the Party-A’s and Intermediaries nominated bank accounts on IMPDA and based on “Bank Endorse Corporate Payment Guarantee Letter” issued by the party-B’s bank. upon completion of the distribution of funds through the bank wire transfers to the respective receiving beneficiary accounts stated in IMDPA ,the Party-B shall then sends the transfer proof (copy SWIFT) via email to all beneficiaries.
2.6. Next tranche shall be repeated from article No.2.2 to No.2.5. All subsequent tranches will be based on this procedure until collateral or funds become exhausted.
2.7. 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.
PROCEDURE:(GPI MT 103 SEMI AUTOMATIC)
2.1. Party-A & Party-B both sign & execute the Joint Venture Investment Agreement. This Investment Agreement, which thereby automatically becomes a full commercial recourse contract.
2.2. Within three (3) banking days, the Party-B’s bank officer delivers “Conditional Bank Endorse Corporate Payment Guarantee Letter” (PGL) for each tranche separately to the Party-A’s Paymaster Bank officer via email.
2.3. After accepting and successful verification and authentication of “Conditional Bank Endorse Corporate Payment Guarantee Letter” by the Party-A, within seven (7) banking days, Party-A delivers the first tranche of funds via GPI SWIFT MT103 SEMI AUTOMATIC and the Party-A sends below documents to the Party-B’s.
- SWIFT Message Copy
- Screen Shot with final code (black)
- Remittance Advice
- GBS Receipt
- Balance Sheet
2.4. The Party-B’s bank complete download and is fully responsible for blocking funds at the Party-B’s account for full redistribution for re-investment purposes via SWIFT MT103(T/T) full payment within three (3) banking days after transfer the funds of cash, according to the conditions of the Agreement.
2.5. Within three (3) banking days the Party-B’s bank remits re-investment to the Party-A’s and Intermediaries nominated bank accounts on IMPDA and based on “Bank Endorse Corporate Payment Guarantee Letter” issued by the party-B’s bank. upon completion of the distribution of funds through the bank wire transfers to the respective receiving beneficiary accounts stated in IMDPA ,the Party-B shall then sends the transfer proof (copy SWIFT) via email to all beneficiaries.
2.6. Next tranche shall be repeated from article No.2.2 to No.2.5. All subsequent tranches will be based on this procedure until collateral or funds become exhausted.
2.7. 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.