Fresh cut SBLC
FROM: BARCLAYS BANK PLC (London, UK) AA-
 Each tranche Face value: 50M (Min) 500M(Max)

Transaction procedures: 1

1 DOA counter signed
2 receiver send MT799 BCL
(3 Provider reply MT799 BCL)
4 PROVIDER SEND MT760



Transaction procedures: 2
 
1. Provider and Receiver execute, sign and initial this deed of agreement, which thereby automatically becomes a full commercial recourse contract to be lodged by both parties for initiation of swift transmission.
 
2. Within one-three (1-3) working days / or agreed working days after the Receiver receives contract documents,the Receiver will issue swift MT99 RWA (Appendix A) to the Provider’s coordinate bank account ,then Provider’s coordinate bank will reply back MT199 RWA to the Receiver’s issuing bank ,after confirmation MT199 RWA from Provider’s coordinate bank,within 1-3 working days,Receiver bank issues swift 799 Blocked of fund (BOF) (appendix B) USD XX+2% (Euro XX,000,000) of face value of SBLC XX million euro amount to the Provider’s coordinate banks . 
 
3.  Within three-five (3-5) banking days after confirmation of MT799 (BOF) original from the Receiver, the provider issues SBLC via Swift MT760 to the receiver’s coordinate banker including the hard copy of the SBLC via bank bonded courier in seven (7) banking days.
 
4. Receiver sends LTV of XX+2 % by swift MT103 to the provider (provider designated bank accounts) and by wire transfer 5 -7 banking days upon delivery, confirmation and verification of SBLC by MT760 in the receiver’s nominated account and SBLC hard copy in the receiver’s nominated bank.
 
5. Any unauthorized calls made by any party or its representatives, lawyers to probe or communication in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.
 
Should the receiver default to pay LTV to the provider and the brokers commission fees as agreed after 5 -7 banking days of confirmation of SBLC( MT760) in receiver’s bank account, provider will instruct the issuing bank to put a claim on the SBLC thereby forcing the receiver’s bankers to return the SBLC (MT760) to the issuing bank.