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>Description of Instruments: >1.Instrument:BG/SBLC >2.Total Face Value:USD/Euro >3.Issuing Bank: Deutsche Bank/ HSBC London/Barclays >London or Any AAA Rated Bank >4.Age:One Year and One Day >5.Leasing Price:10% of Face Value plus 2%commission >7.Delivery :SWIFT TO SWIFT. >8.Payment:By Conditional MT103/23 or Icbpo >9.Hard Copy:Bonded Courier within 7 banking days. >PROCEDURE: >1.Lessee signes thia DOA and send it back along with >BCL from his bank. Lessor >, signs this Deed of Agreement which thereby >automatically becomes a full >commercial recourse contract after Lessee application >have been accepted by >the Lessor. >2.After signing the agreement and simultaneously with >the return of the >agreement to the Lessee.,Lessor will issue pre-adise >by MT 799 to lessee’s bank. >3.After receiving pre-advise by MT799 from Lessor, >Within 24hrs the Lessee >will instruct his Bank to swift by MT103-23 the 12% >lease fee directly to the >Investor nominated bank account as agreed in the >contract and application >formalities. >4.The Lessor will instruct his Bank to issue and >deliver the BANK INSTRUMENT >€/$ by MT760 to Lessee’s bankers for authentication & >verification not later >than 72hours of confirmation/receipt of the lessee’s >MT103-23 payment (10% of >Face Value Plus 2% commission for brokers) into the >Investor’s bank account. >5.Upon receipt and confirmation of the Lessor's swift >MT760 of BANK INSTRUMENT >€/$ by Lessee's bankers, Lessee will instruct his bank >to release payment to >the lessor 10% and 2% comission to intermediatories, >within 48hours. >6.Within 2 banking days after confirmation of receipt >of payment of the (12%of >Face Value) leasing fees, the Lessor will deliver the >hard copy of the BG to >the Lessee's bank via bank bonded courier. >Should Lessee default to pay the leasing fees to the >lessor and the Agents >fees as agreed after 2 banking days of confirmation of >BG MT760 in lessee’s >bank account, Lessor will instruct the issuing bank to >put a claim on the BG >thereby forcing the Lessee's bankers to return the BG >MT760 to the issuing Bank. > >Email: velamathi@avasmail.com.mv

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