by woodface
Sat Oct 25, 2014 1:51 pm
Please be aware of the proposals of this company. SABMIN CORP. GEO MR. khayri Sabek
The seller has to agree with these proposals that are against international rules, CCI
PROPOSAL
Our procedure as the following:
1- Both parties shall post a good faith bond of (usd$1,000,000- 5,000,000) not less than USD 1000,000.00 to guarantee will perform in accordance with the contract signed. such bond will be in the form of SBLC transferable irrevocable and will pay the beneficiary at first demand stating the applicant fails to perform the signed contract and the applicant cannot prove to the contrary in 5 banking days. SELLER issues the contract in favor of the buyer;
2- Seller shall seal and sign contract and send it to Buyer by e-mail after scanned the whole contract. Upon in receipt, Buyer signs, seals and after scanned the whole contract will send it back to Seller by e-mail. Both the Parties state here that electronic signed copy is legally effective. The Seller will sign, seal and notarize four (4) hard copies of the contract and send them to Buyer; the Buyer will sign, seal and notarize the contract and will return two (2) hard copies to Seller. On this respect, both Parties agree that the contract, exchanged by fax or by email or by any other electronic document transmission (EDT), when signed by the respective empowered officers, is considered legally enforceable, full binding on both Parties and duly executed on the last transmission date.
3- Within ten (5) Banking days after the execution of the contract by both Parties, the Seller will instruct his bank to affirm to Buyer’s bank by Pre- Advice MT799 with his guarantees to open the Performance Bond of the value of USD$00,000,000 (xxxxxxxxxxxxxxxxx United States dollars), which corresponds to two percent (2%) of the contract value amount of USD$000,000,000.00 (xxxxxxxxxxx millions United States dollars). Such affirmation must be with a key code and will hold until in receipt of the BG from Buyer.
4- Within five (5) working banking days after the buyer’s bank received the pre-advice MT799 for the PB 2% and verified it, the Buyer will allocate funds and issue a BG as per item 7.1.
5- The Seller’s bank will request the delivery of Buyer’s BG by swift MT 760, and within five (5) working banking days will issue to the Buyer’s bank the Performance Bond of the value of 2% (two percent) of the total amount of the BG, as mutually agreed.
6- Ship starts loading and shipment commences within sixty (60) days, or less, after the receipt and acceptance of Buyer’s financial instruments by Seller’s, bank in accordance with the payment condition as per Article 7 of this contract.
PAYMENT
1- Payment: by irrevocable, transferable, confirmable and unconditional Bank Guarantee in the amount of the contract (100%) with the right value of USD$000,000 (xxxxxxxxxxxxtwo millions United States dollars), to be issued and confirmed by one of the top prime 25 world’s banks, 100% payable at sight. Such instrument will have a maturity of thirteen (13) months, payable against complete sets of shipping documents at maturity only.
2- If Seller does not complete the contract deliveries, the BG will return to Buyer but the Buyer will still pay for whatever quantities delivered by the seller and accepted by the Buyer and the Buyer will forfeit the 2% PB.
3- Format of the Bank Guarantee instrument shall be according to the ICC 758 text with maturity for thirteen months, as per annex.
4- Seller and Buyer will bear their own banking costs.
The BG terms:
Q 1: how can the seller finance the shipments?
Q 2: how the seller get money to do the operation?
This BG if is totally unconditional, must be in the name of the Buyer or it is conditional subjected to the performance of the beneficiary to the contract.
ICC758 IS PAYABLE AT MATURITY DATE AGINST COMPLETE SETS OF SHIPPING DOCUMENTS.
DO YOU AGREE TO THIS???
1. IF PAYMENT BY UNCONDITIONAL BG, IT EITHER BE THE BUYER BEING THE BENEFICIARY AND AGREED WILL TRANSFER THE INSTRUMENT TO SELLER AT END OF THE CONTRACT AFTER HE COMPLETED THE TOTAL DELIVERIES. SELLER FAILING TO DELIVER THE CONTRACTAL QUANTITY WILL LOSE THE PB BUT WILL BE PAID FOR QUANTITY DELIVERED AND ACCEPTED.
2. SHOULD THE SELLER BEING THE BENEFICIARY ON THE BG, THE BG WILL BE BLOCKED BY BUYER AND UNBLOCKED ONLY AFTER SELLER FULLY DELIVERED THE SHIPMENTS.
3. OR THE BG IS CONDITIONAL WITH PAYMENT ONLY AGAINST PRESENTATION OF ALL SHIPMENT COMPLETE SETS OF DOCUMENTS AT PER CLAUSE: DOCUMENTS FOR SHIPMENT DELIVERED OF THE CONTRACT.
IF PAYMENT BY BG COVERING THE WHOLE CONTRACT, BUYER WILL NOT BE NEEDED TO PAY FOR ALL SHIPMET UNTIL END. OR
SELLER WILL BE PAID FOR SHIPMENTS DELIVERED BUT PB FORFEITTED.
3 Payment terms
1- IF THE SELLER WISH TO RAISE MONEY FOR THE SHIPMENT, WE CAN EITHER GIVE HIM A STANDBY LC OR BG FOR THAT CONTRACTUAL VALUE AS PER THE CONTRACT TERMS. THESE INSTRUMENTS CAN INCLUDE A RED CLAUSE WHERE HE CAN DRAW MONEY IN ADVANCE TO PREPARE THE DELIVERIES. HOWEVER, HIS BANK MUST BE RESPONSIBLE THAT HE WILL DELIVER. IN THE EVENT HE DOES NOT DELIVER THE CONTRACT OR JUST PARTIALLY DELIVERED, WE WILL PAY FOR WHAT HE DELIVERED AND HIS BANK MUST BE RESPONSIBLE TO REFUND OUR MONEY FOR THE DELIVERIES THAT WILL NOT PERFORMED.
2- WE CAN ALSO PROVIDE HIM WITH BG IN ICC758 FORMAT BUT WE (THE BUYER) WILL BE THE BENEFICIARY IN THE INSTRUMENT. IF THE BG OR INSTRUMENT IS USED IN MONETIZATION, WE WILL HAVE AGREEMENT THAT SELLER CAN USE THE FUNDS FROM MONETIZE ALSO THE RIGHT TO CASH THE BG IF HE DELIVER THE TOTAL CONTRACT QUANTITIES. ANY AMOUNT THAT IS FROM NO RECOURSE WILL BE PAID TO SELLER BUT HIS BANK MUST GUARANTEE THE REFUND FOR MONEY PAID TO SELLER COVERING THE QUANTITY THAT IS NOT DELIVER; THIS IS SUBJECTED THAT HE WILL DELIVER ALL SHIPMENTS. FAILING TO DO SO WILL HAVE TO HAVE HIS BANK GUARANTEE TO REFUND THE FUNDS THAT IS NOT DELIVERED AND HE KEEPS THE VALU OF SHIPMENT PERFORMED
3- Here is a better payment version that the seller will have the funds to deliver and the bank need not to guarantee on his performance other than just the PB. BUYER WILL ISSUE A PERFORMANCE BOND FOR VALU OF ONE MONTHS SHIPMENT VALUE AND VALID FOR 13 MONTHS TO GUARANTEE WILL MEET THE MONTHLY SHIPMENT BY MT103 AGAINST ALL SHIPPING DOCUMENTS IN GOOD ORDER
The seller has to agree with these proposals that are against international rules, CCI
PROPOSAL
Our procedure as the following:
1- Both parties shall post a good faith bond of (usd$1,000,000- 5,000,000) not less than USD 1000,000.00 to guarantee will perform in accordance with the contract signed. such bond will be in the form of SBLC transferable irrevocable and will pay the beneficiary at first demand stating the applicant fails to perform the signed contract and the applicant cannot prove to the contrary in 5 banking days. SELLER issues the contract in favor of the buyer;
2- Seller shall seal and sign contract and send it to Buyer by e-mail after scanned the whole contract. Upon in receipt, Buyer signs, seals and after scanned the whole contract will send it back to Seller by e-mail. Both the Parties state here that electronic signed copy is legally effective. The Seller will sign, seal and notarize four (4) hard copies of the contract and send them to Buyer; the Buyer will sign, seal and notarize the contract and will return two (2) hard copies to Seller. On this respect, both Parties agree that the contract, exchanged by fax or by email or by any other electronic document transmission (EDT), when signed by the respective empowered officers, is considered legally enforceable, full binding on both Parties and duly executed on the last transmission date.
3- Within ten (5) Banking days after the execution of the contract by both Parties, the Seller will instruct his bank to affirm to Buyer’s bank by Pre- Advice MT799 with his guarantees to open the Performance Bond of the value of USD$00,000,000 (xxxxxxxxxxxxxxxxx United States dollars), which corresponds to two percent (2%) of the contract value amount of USD$000,000,000.00 (xxxxxxxxxxx millions United States dollars). Such affirmation must be with a key code and will hold until in receipt of the BG from Buyer.
4- Within five (5) working banking days after the buyer’s bank received the pre-advice MT799 for the PB 2% and verified it, the Buyer will allocate funds and issue a BG as per item 7.1.
5- The Seller’s bank will request the delivery of Buyer’s BG by swift MT 760, and within five (5) working banking days will issue to the Buyer’s bank the Performance Bond of the value of 2% (two percent) of the total amount of the BG, as mutually agreed.
6- Ship starts loading and shipment commences within sixty (60) days, or less, after the receipt and acceptance of Buyer’s financial instruments by Seller’s, bank in accordance with the payment condition as per Article 7 of this contract.
PAYMENT
1- Payment: by irrevocable, transferable, confirmable and unconditional Bank Guarantee in the amount of the contract (100%) with the right value of USD$000,000 (xxxxxxxxxxxxtwo millions United States dollars), to be issued and confirmed by one of the top prime 25 world’s banks, 100% payable at sight. Such instrument will have a maturity of thirteen (13) months, payable against complete sets of shipping documents at maturity only.
2- If Seller does not complete the contract deliveries, the BG will return to Buyer but the Buyer will still pay for whatever quantities delivered by the seller and accepted by the Buyer and the Buyer will forfeit the 2% PB.
3- Format of the Bank Guarantee instrument shall be according to the ICC 758 text with maturity for thirteen months, as per annex.
4- Seller and Buyer will bear their own banking costs.
The BG terms:
Q 1: how can the seller finance the shipments?
Q 2: how the seller get money to do the operation?
This BG if is totally unconditional, must be in the name of the Buyer or it is conditional subjected to the performance of the beneficiary to the contract.
ICC758 IS PAYABLE AT MATURITY DATE AGINST COMPLETE SETS OF SHIPPING DOCUMENTS.
DO YOU AGREE TO THIS???
1. IF PAYMENT BY UNCONDITIONAL BG, IT EITHER BE THE BUYER BEING THE BENEFICIARY AND AGREED WILL TRANSFER THE INSTRUMENT TO SELLER AT END OF THE CONTRACT AFTER HE COMPLETED THE TOTAL DELIVERIES. SELLER FAILING TO DELIVER THE CONTRACTAL QUANTITY WILL LOSE THE PB BUT WILL BE PAID FOR QUANTITY DELIVERED AND ACCEPTED.
2. SHOULD THE SELLER BEING THE BENEFICIARY ON THE BG, THE BG WILL BE BLOCKED BY BUYER AND UNBLOCKED ONLY AFTER SELLER FULLY DELIVERED THE SHIPMENTS.
3. OR THE BG IS CONDITIONAL WITH PAYMENT ONLY AGAINST PRESENTATION OF ALL SHIPMENT COMPLETE SETS OF DOCUMENTS AT PER CLAUSE: DOCUMENTS FOR SHIPMENT DELIVERED OF THE CONTRACT.
IF PAYMENT BY BG COVERING THE WHOLE CONTRACT, BUYER WILL NOT BE NEEDED TO PAY FOR ALL SHIPMET UNTIL END. OR
SELLER WILL BE PAID FOR SHIPMENTS DELIVERED BUT PB FORFEITTED.
3 Payment terms
1- IF THE SELLER WISH TO RAISE MONEY FOR THE SHIPMENT, WE CAN EITHER GIVE HIM A STANDBY LC OR BG FOR THAT CONTRACTUAL VALUE AS PER THE CONTRACT TERMS. THESE INSTRUMENTS CAN INCLUDE A RED CLAUSE WHERE HE CAN DRAW MONEY IN ADVANCE TO PREPARE THE DELIVERIES. HOWEVER, HIS BANK MUST BE RESPONSIBLE THAT HE WILL DELIVER. IN THE EVENT HE DOES NOT DELIVER THE CONTRACT OR JUST PARTIALLY DELIVERED, WE WILL PAY FOR WHAT HE DELIVERED AND HIS BANK MUST BE RESPONSIBLE TO REFUND OUR MONEY FOR THE DELIVERIES THAT WILL NOT PERFORMED.
2- WE CAN ALSO PROVIDE HIM WITH BG IN ICC758 FORMAT BUT WE (THE BUYER) WILL BE THE BENEFICIARY IN THE INSTRUMENT. IF THE BG OR INSTRUMENT IS USED IN MONETIZATION, WE WILL HAVE AGREEMENT THAT SELLER CAN USE THE FUNDS FROM MONETIZE ALSO THE RIGHT TO CASH THE BG IF HE DELIVER THE TOTAL CONTRACT QUANTITIES. ANY AMOUNT THAT IS FROM NO RECOURSE WILL BE PAID TO SELLER BUT HIS BANK MUST GUARANTEE THE REFUND FOR MONEY PAID TO SELLER COVERING THE QUANTITY THAT IS NOT DELIVER; THIS IS SUBJECTED THAT HE WILL DELIVER ALL SHIPMENTS. FAILING TO DO SO WILL HAVE TO HAVE HIS BANK GUARANTEE TO REFUND THE FUNDS THAT IS NOT DELIVERED AND HE KEEPS THE VALU OF SHIPMENT PERFORMED
3- Here is a better payment version that the seller will have the funds to deliver and the bank need not to guarantee on his performance other than just the PB. BUYER WILL ISSUE A PERFORMANCE BOND FOR VALU OF ONE MONTHS SHIPMENT VALUE AND VALID FOR 13 MONTHS TO GUARANTEE WILL MEET THE MONTHLY SHIPMENT BY MT103 AGAINST ALL SHIPPING DOCUMENTS IN GOOD ORDER
