You are on page 1of 13

Agreement Code: AAA/BBB/01/2012

CONFIDENTIAL FUNDS PROVIDER PAYMENT AGREEMENT This Funds Provider Payment Agreement ("Agreement") is entered into as of this the 25TH day of October 2012 by and between:
NAMEOFCORPORATION withregistrationnumber:,acompanyregisteredin______ (address) orassigns,andrepresentedby withPassportNasTheFunder

(The Party of the Discounter / First Part hereinafter referred to as AAA) And NAME OF CORPORATION Represented by MR._____________, CEO with Passport No:YA0485404
havingregisteredaddress: (ADDRESS)

(ASSET PROVIDER - hereinafter referred to as BBB) The Party of the Second Part RECITALS: A. AAA confirms that it controls Master World Banks for the purpose of providing commercial projects. AAA also warrants clean, clear cash reserves to honor this terms expressed in this agreement. Bank Contracts with Top Ten funding for humanitarian and with full authority that it has Agreement according to the

B. BBB confirms that they will instruct their banker to issue a Swift MT 110 bank undertaking for a Time Draft issued from, HSBC Bank Plc., London in the amount of Thirty million Euro (Euro 30,000,000.00) with text that has already been provided by AAA to BBB for this purpose. The Bank undertaking text for the SWIFT MT 110 becomes Appendix "B" to this agreement and is signed by BBB separately. NOW THEREFORE, in consideration of the covenants exchanged hereunder, the parties agree as follows:

Agreement Code: AAA/BBB/01/2012 I.

Both BBB and AAA agree to sign and execute this Agreement in a prompt manner with full details of the Bank Instrument. Part AAA will propose the beneficiary name on the Time Draft with full bank details to receive the MT110.

II. On laying hands on this agreement, party BBB will issue the Time Draft in favour of the beneficiary as specified by the Part one / AAA. III. On receipt of the copy of the Time Draft the part AAA will give their consent to receive the swift MT110 through the channel in which the Agreement is received by the via Email.
IV.

In two working days on signing the agreement, Seller /Second Party / BBB will send the swift MT110 to the first partys bank coordinates to provide the readiness to send swift MT110.
V.

Discounter/First Party/AAA would verify the authenticity of the swift MT110 issued from the bank.
VI.

Within 3 working days from the date of receipt of the swift MT110, Discounter/First Party/AAA upon verification of the authenticity of the swift MT110 would issue the payment order to the second party and other beneficiaries of the payment via MT103 (bank swift of Irrevocable Bank Payment).
VII.

First party upon verification of the MT110 would ensure the payment to the beneficiaries as per the agreement.
VIII. Onreceiptoftheconfirmedpayment,thesecondpart/BBBwillarrangethroughtheir banktosendthehardcopyofthedraftandsupportingdocuments/lettersfromthebankto thebankaddressoffirstpartAAA.

V. In One (1) Year from the time of the receipt of this MT 110 bank undertaking, the seller would ensure that the payment in full will be released to the first party as per the swift MT110 and both AAA & BBB would be released all and full obligations as per this agreement. ARTICLE 1. WARRANTIES

Agreement Code: AAA/BBB/01/2012

Section 1.1. Good Faith. AAA warrants that they shall act in good faith to promptly execute their line of credit based on this transaction and to disburse to BBB funds as agreed and to establish appendix C of this agreement. Section 1.2. Affiliates, Successors and Assigns. This Agreement shall inure to the benefit of the legal heirs, executors, administrators, successors and assigns of BBB. ARTICLE 2. GENERAL PROVISIONS Section 2.1. Authority. Each party and signatory to this Agreement represents and warrants that they have the required authority to enter into this Agreement and will fully comply with the terms and conditions contained herein.

Section 2.2. Entire Agreement. This Agreement supersedes any and other agreements, either oral or in writing, between the parties hereto with respect to procuring and disbursing proceeds. Each party to this agreement acknowledges that no representation, inducements, promises, or agreements, orally or otherwise, have been made by any party, which is not embodied herein, and that no other agreement, statement, or promise not contained in this agreement shall be valid or binding on either party. Section 2.3. Expenses and Liabilities. It is mutually agreed that both parties shall be responsible for their respective institutional costs and expenses. Both parties shall be responsible for their respective liabilities in connection with the payment of all taxes, levies or duties which might become due as a result of their participation in this transaction. Section 2.4. Law Governing and Full Recourse. This Agreement is a full recourse agreement concluded under the laws of England whose jurisdiction shall govern the construction, interpretation, execution,
3

Agreement Code: AAA/BBB/01/2012

validity, enforceability, performance and any other matters in respect of this agreement, including breach or claim thereof. The parties agree to have any dispute dealt with by arbitration as a first recourse. Section 2.5. Transmission of Agreement. This document, when duly endorsed, if delivered by facsimile or electronic mail shall be considered as original and shall constitute a binding and enforceable legal agreement. ARTICLE 3. NON-RELATIONSHIP

Section 3.1. Non-Relationship between Parties. Nothing herein contained shall be construed to place either party in the relationship of partners or joint ventures and neither party shall represent themselves as having any authority to make contracts or to obligate or bind the other in any manner whatsoever other than that expressed in this agreement. ARTICLE 4. ENTIRE AGREEMENT Section 4.1 Constitution of Agreement. This Agreement shall constitute the entire agreement between the parties and supersedes any and all agreements, representations, warranties, statements, promises, and understandings, whether oral or written, with respect to the subject matter hereto, and neither party shall be bound by, nor charged with any oral, or written agreements, representations, warranties, statements, promises, or understandings not specifically set forth in this Agreement.

This Agreement has been accepted and agreed to by the Parties hereto and duly signed and delivered to each Party on this, the 25th day of October, 2012. Agreed to by:
4

Agreement Code: AAA/BBB/01/2012

________________________________ Name: Mr. Designation: CEO / PRESIDENT Passport Number: Country of Issue: Agreed to by:

________________________________ Name: Mr. Designation: CEO Passport Number: Country of Issue:

FORMAT OF SWIFT MT110

Agreement Code: AAA/BBB/01/2012

From: HSBC Bank plc <brianrobertson@hsbc.com> Subject: HSBC BANK CONFIRMATION LETTER To: Date: BANK NAME BANK ADDRESS BANK SWIFT CODE ACCOUNT NAME ACCOUNT NUMBER BANK OFFICER NAME BANK PHONE DEAR SIR, WE, HSBC BANK, AT 8, CANADA SQUARE, LONDON E14 5HQ UNITED KINGDOM, HEREBY TO CONFIRM THE DRAFT N0. 807892 WITH THE AMOUNT OF, THIRTY MILLION EURO ONLY (30,000,000.00), ISSUED, ON THE 11TH SEPTEMBER 2012.FIND ATTACHED, A LETTER OF "CONFIRMATION LETTER" FROM HSBC BANK PLC.SIR, WITHOUT FURTHER DELAY DO PROCEED AND CREDIT THE SAID AND PRESENTED ABOVE ACCOUNT BY OUR CLIENT, TO ENABLE YOUR CLIENT HAVE ALL REQUIRED OBLIGATION. CONCLUDE OUR ONGOING TRANSACTION WITH OUR CLIENT AS SOON AS POSSIBLE! YOU MAY CREDIT ACCORDINGLY AS YOU WISH. SINCERELY YOURS, FOR AND ON BEHALF OF: BANK OFFICER HSBC BANK PLC UNITED KINGDOM

Agreement Code: AAA/BBB/01/2012

Agreement Code: AAA/BBB/01/2012

Bank coordinates for issuance of the swift MT110


Bank Name: Street Address: Account Name: Account Number: Bank Officer Name: Swift Code: IBAN: Telephone Number: HSBC BANK PLC
8 CANADA SQUARE, LONDON E14 5HQ UK

Bank coordinates for receipt of the swift MT110


Bank Name Address Account No Account Name IBAN BIC : : : : : :

Agreement Code: AAA/BBB/01/2012 Passport Copy of First Party

Agreement Code: AAA/BBB/01/2012

Passport copy of second party

10

Agreement Code: AAA/BBB/01/2012

SellerS Client Information Sheet

11

Agreement Code: AAA/BBB/01/2012

BUYERS CLIENT INFORMATION SHEET

12

Agreement Code: AAA/BBB/01/2012

BANK DETAILS FOR PAYMENTS


PAYMENT FOR 50% OF THE FACE VALUE: EURO 15,000,000.00

Bank Name: Street Address: Account Name: Account Number: Bank Officer Name: Swift Code: IBAN: Telephone Number:
PAYMENT FOR 2% OF THE FACE VALUE: EURO 600,000.00

Bank Name Swift Code Account Number Account Name Branch Name Swift Code
PAYMENT FOR 2% OF THE FACE VALUE: EURO 600,000.00
TO BE SENT TO SWIFT ACCOUNT NO CREDIT TO Swift Ultimate Credit to Swift Code Beneficiary Name Passport No Beneficiary's A/c No Name of the Bank Name of the Branch : : : : : : : : : : : : COMMERZ BANK, COBADEFF 400875020001 Canara Bank, Intl Division, Mumbai, India CNRBINBBB Canara Bank, Foreign Department, Hyd CNRBINBBHYD MR. KULWANT KR RAM 302384180 0845110020166 NRI A/c CANARA BANK S D ROAD, SECUNDERABAD, INDIA

13

You might also like