1) The principal (partner)  sends a letter of intent to begin a transaction (LOI) in this letter is described; The full name of the GOSTs, technical conditions, and volumes of monthly lots is and of the company is indicated to ensure of the Bank:____, by guaranteeing Bank (Full name of the Bank). Attached to the letter, the partner company provides an extract from the corporate account of the availability of funds with an indication of the amount or RWA of the Bank on consent to issue the SBLC / BG for the entire annual batch of goods for the term of the contract;

 

2) The «International ABU Development Foundation» (IABUDF) accepts this application from the submitted guaranteeing company by bank further officially confirms its readiness to accept SBLC / BG from the bank in the amount of the guarantee;

The application to the response sends a sample (SBLC / BG) of the accepted banking instrument.

 

3) The principal (partner) sends from the guaranteeing bank to the specified details of the beneficiary RWA / Pre-Advice Swift-799 (Annex A / B) in the amount of _______EUR, (with an attached sample of the banking instrument)

 

4) The agreement is signed (CFA / JPA), on the basis of which the Principal (partner) issues the SBLC / BG banking instrument, sending Swift-760 (Annex A / B) for the specified amount _______EUR.

 

After performing the procedures:

5) The start of deliveries of shipments of goods on the terms of the established schedule.

 

6) Under the terms of the contract, the buyer pays each batch upon receipt no later than 5 banking days.

 

7) Upon completion of deliveries and full payment by the buyer of the goods, the guarantee is returned to the client without encumbrance (WITHOUT LIABILITY).

 

8) By agreement of the parties, the contract and warranty can be extended for 1-2 years.