BANK DRAFT CONTRACT PROCEDURE

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Posted by on March 24, 2010 at 03:08:37:

In Reply to: BUY/SELL BANK INSTRUMENT PROGRAMS posted by Orlando Smith on March 02, 2003 at 18:46:31:

This is our 2010 procedure for the procurement of Bank Draft.

INSTRUMENT: CONFIRMABLE BANK DRAFT BY SWIFT,BANK FAX OR BANK SCREEN
ISSUING BANK: TOP 25 AA RATED BANK IN EUROPE
AMOUNT: Euro 20M TO Euro5Billion.
PRICE: 52% OF FACE VALUE. COMMISSION FEES OF 2% TO BOTH BUYER/SELLER AGENTS TO BE SHARED 50/50 AMONGST BOTH OF THEM

PROCEDURE:
1. Seller/Buyer sign purchase contract.

2. Within 72hrs upon signature of purchase contract,Seller issues a bank draft in favour of buyer and email the soft copy of the Bank draft to the Buyer for confirmation.

3. Within 72banking hrs upon confirmation of bank draft soft copy buyer must pay 1% of the bank draft face value by wire transfer into sellers bank account.

4. Within 72hrs upon confirmation of the 1% of the bank draft face value of Eur/USD 20M to Eur/USD 5Billion wire transfer into sellers bank account,seller will deliver via bank bonded courier the hard copy of the bank draft to the buyers bank within 5banking days.

5. Buyers shall within three (3)banking days of receipt and confirmation of the bank draft hard copy pay to the seller's bank account by wire transfer 51% of the bank draft face value as well as pay the brokers their 2% commission fees.

Thanks and regards
Randy Brunger
randybrunger2008@gmail.com



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