PRIVATE
FOREIGN Currency Exchange AGREEMENT
No:
EURO (€ EURO) FOR US DOLLARS ($ USD)
BANK TO BANK-
EURO
PRINCIPAL’S CURRENCY: EURO
USD
PRINCIPAL’S CURRENCY: US
DOLLARS
1. DESCRIPTION OF THE UNITED STATES DOLLARS (USD) CURRENCY:
CURRENCY: UNITED
STATES DOLLARS; LEGAL TENDER OF USA.
ORIGIN
OF CURRENCY: NON-CRIMINAL
ORIGIN.
YEAR
OF CURRENCY ISSUE: CURRENT VALID
CURRENCY; IN CIRCULATION, FREE FROM ANY
LIENS OR ENCUMBRANCES, FREELY TRADABLE IN ANY COUNTRY
CONTRACT
QUANTITY: 50 BILLION USD WITH R & E
FIRST
TRANCHE: USD 500 MILLION USD
SUBSEQUENT TRANCHES: PER
TRANCHE AS AGREED (ANNEX B)
2 DESCRIPTION OF THE EURO (EURO) CURRENCY:
CURRENCY: EUROS,
LEGAL TENDER OF E. U.
ORIGIN
OF CURRENCY: NON-CRIMINAL
ORIGIN.
YEAR
OF CURRENCY ISSUE: CURRENT VALID
CURRENCY; IN CIRCULATION,
FREE FROM ANY LIENS OR ENCUMBRANCES,
FREELY TRADABLE
IN ANY COUNTRY
CONTRACT
QUANTITY: EQUIVALENT AMOUNT OF
50 BILLION USD WITH R & E
FIRST TRANCHE: EQUIVALENT AMOUNT OF USD 500 MILLION USD
SUBSEQUENT
TRANCHES: PER TRANCHE AS AGREED
SCHEDULE
3. TRANSACTION CONDITIONS:
EURO
PROVIDER MUST HAVE A BANK ACCOUNT IN USA
TRANSACTION MODE: Bank-to-bank
(swift MT103/ or AS AGREED)
RATE OF EXCHANGE: LONDON MORNING FIXING INTER-BANK
EXCHANGE RATE.
BONUS: GROSS
15% USD; NET 10% TO THE EURO PRINCIPAL
CONSULTANCY
FEES: TOTAL OF 5% ALLOWED
TO BE SPLIT ON 50 / 50 BASIS
USD
PRINCIPAL SIDE: 2.50% TO
USD-P’S SIDE, TO BE PAID BY
EURO PRINCIPAL
EURO
PRINCIPAL SIDE: 2.50% TO
EURO-P’S SIDE, TO BE PAID BY
EURO PRINCIPAL
FEE
TRANSACTION MODE: FROM EURO-P’S BANK
UNCONDITIONALLY TO PAYMASTERS.
USD MOVES FIRST WITH FUND BLOCKAGE INTO EURO ACCOUNT
4)
TRANSACTION PROCEDURES:
4.a) THE EURO PROVIDER OR AUTHORISED MANDATED
REPRESENTATIVE WOULD ACCEPT, SIGN, SEAL AND RETURN THIS CURRENCY EXCHANGE
AGREEMENT ALONG WITH THE FPA, PASSPORT COPY AND CIS BY EMAIL IN PDF-FORMAT
(HARD COPIES TO BE SENT BY COURIER SERVICE IF REQUIRED).
4.b) USD-P
OR MANDATES EXCHANGE FULL DUE DILIGENCE COMPLIANCE PACKAGE, SIGNS AND SENDS
BACK TO EURO PROVIDER.
4.c) THIS AGREEMENT ALONG WITH THE FPA IS TO BE LODGED
WITH EACH PARTY’S BANK.
4.e) WITHIN A FIVE (5) BANKING DAYS FROM
THE DATE OF EXECUTION OF THE PRESENT CONTRACT, USD PROVIDER’S BANK OFFICER
CONTACTS THE EURO BANK OFFICER AND TRANSFER A TEST TRANCH OF 5 MILLION USD INTO
EURO ACCOUNT IN THE USA.
4.g) UPON VERIFICATION,
THE EURO PRINCIPAL’S CLOSING BANK SHALL THEN SEND, ON THE SAME
BANKING DAY AS ABOVE, VIA SWIFT MT103
UNCONDITIONALLY THE EURO TO THE USD PRINCIPAL’S RETURN BANK IN ACCORDANCE WITH
THE BANKING INSTRUCTIONS WITHIN THIS AGREEMENT
4.h) THE EURO PROVIDER PAYS OUT THE NECESSARY
AGREED COMMISSIONS ( 5%-FIVE PERCENT) AS PER THE FPA AGREEMENT ATTACHED TO THIS
CONTRACT.
4.i) FURTHER TRANCHES ARE TO BE CONTINUED AS PER
THE ABOVE PROCEDURE UNTIL THE USD IS EXHAUSTED OR THE AMOUNT OF AGREEMENT IS
COMPLETED.
4.l) THIS CONVERSION AGREEMENT SHALL ACCEPT USD
IN EURO PROVIDER’S ACCOUNT, DAILY PER ANNEXURE “B” WITH A GROSS BONUS OF
15% (FIFTEEN PERCENT) / NET 10% (TEN PERCENT) ON
THE AMOUNT OF EACH DAILY TRANCHE, AS FOR EXAMPLE: FOR EACH 100.00 USD, EURO
PROVIDER WILL FORWARD 85,00 USD OF THAT VALUE IN EURO CURRENCY, AS AGREED WITH
USD PROVIDER; EURO PROVIDER WILL PAY ALL COMMISSION.
4.m) BONUS OF TEN PERCENT (10.0%) IS FOR THE
BENEFIT OF THE EURO PROVIDER. BONUS OF FIVE PERCENT (5.0%) IS FOR THE BENEFIT
OF ALL INTERMEDIARIES.
4.n) TEXT OF CONDITIONAL
SWIFT:
FORMAT
OF CONDITIONAL SWIFT MT103
WIRE
TRANSFER OF FUNDS FOR THE EXCHANGE OF CURRENCIES
From: (Name of USD
provider Bank
(Address)
(Swift
Code)
Date:
Transaction
Code
Ordering
Customer : (USD Account Name and Number)
To
:
Bank Name :
Bank Address :
Routing Number :
Bank Officer :
SWIFT :
Telephone :
Fax :
For Benefit of: (EURO’s Closing Account Name) (EURO’s
Closing Account Number)
Customer’s Private
Contract Codes
Transaction
Code: USD Provider's Code:
EURO Provider’s Code:
Dear
Sir/Madam,
We …..(Name of USD
Provider’s Bank)……, for and on behalf of our account holder
……(Name of USD Provider)…….,
hereby irrevocably wire transfer the amount of $ 00,000,000.00 (…………………… United
States Dollars), in favour and sole disposability of xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx ,
branch located in …………………………… for being, in full bank responsibility, exchanged
for EURO through the
Account N° ………………, Account Holder ……(Name of EURO Provider).…., according to the
guidelines of the private agreement signed between our account holder …..(Name of USD Provider)…… and your account holder
Mr. A.T.-
Upon your verification and authentication of this
conditional SWIFT, funds must be, in full bank responsibility,
exchanged for EURO through the above mentioned account of yours and, by
electronic wire transfer, remitted back to us within 8 (eight)
international banking hours from verification and validation of this SWIFT; in
case of non performance of your account holder, the USD received must be
remitted back to us within the same lapse of time.
Further SWIFTs will be issued after each exchange, and
till the whole amount of USD stated in the private contract will be exhausted.
The
SWIFT must be received during normal banking hours.
ORIGIN
OF FUNDS
We hereby confirm that the funds transferred by this
SWIFT have been legitimately earned and are of legal origin in accordance with
all known international bank sending committee standards and procedures and
that these United States Dollar Funds meet all the Organization for Economic
Cooperation and Development, Paris, France and its Financial Action Task Force
on Money Laundering guidelines, regulations and criteria. The 1999 Group of
Eight Ten Key Principles for the Improvement of International Cooperation
regarding Financial Crime and Regulatory Abuse are observed.
We furthermore declare that, having reviewed all account
activity in our client’s account from the date of its establishment through the
date of this letter, to the best of our belief and knowledge, no Special
Designated National, Blocked Person, Entity, Organization, Group of Embargoed
Country/State Nation, as defined, and/or designated, and/or recognized by the
Government of the United States of America, the European Union, and/or United
Nations have ever been a party to, shared in, or derived any benefit directly
or indirectly from any of our client’s account activity and that all of the
funds into and out of the named account did not directly or indirectly derive
from any Special Designated National, Blocked Person, Entity, Organization,
Group of Embargoed Country/State Nation, as defined, and/or designated, and/or
recognized by the Government of the United States of America, the European
Union, and/or United Nations and did not directly or indirectly derive from any
National, Person, Entity, Organization, Group and/or Country/State/Nation that
engages in and/or sponsors and/or directs, And/or funds, and/or gives any aid,
comfort, and/or sanctuary or support, in any form and kind, to any National,
Person, Entity Organization, Group and/or Country/State/Nation that designated,
and/or recognized by the Government of the United States of America, the
European Union, and/or United Nations.
NOTICES
It
is understood and agreed that the valid delivery of verified and authenticated
EURO, as specified herein, will complete your entire obligation to us per this
Swift wire.
This is an operative Bank Instrument
and is subject to the Uniform Customs and Practices for Bank Credit Instruments
in Accordance with the latest revision of International Chamber of Commerce
Publication Number 500.
______________________ ____________________
Authorized
Bank Officer Authorized
Bank Officer
Name Name
Title Title
ID
number ID
number
(Bank seal) (Bank seal)
········ END OF SWIFT ········
5. BANKING COORDINATES AND INSTRUCTIONS FOR
USD-P AND EURO-P:
THE
RESPECTIVE BANK ACCOUNT DETAILS OF EURO PRINCIPAL AND USD PRINCIPAL ARE
LISTED IN ANNEX “A” ATTACHED AND CANNOT BE CHANGED FOR THE LIFE OF THIS
AGREEMENT WITHOUT WRITTEN NOTICE FIVE DAYS PRIOR TO ANY CHANGE.
6. CONSULTANCY FEES:
THE PAYER OF THE CONSULTING FEES AND COMMISSIONS AS
WELL AS THE EURO PRINCIPAL AND USD PRINCIPAL AS PRINCIPALS, IRREVOCABLY COMMIT
THEMSELVES TO TRANSFER, UPON SETTLEMENT OF EACH TRANCHE EXCHANGED, INCLUDING
ALL ROLLS AND EXTENSIONS, THE CONSULTANCY FEES AS FOLLOWS:
A. CONSULTANCY
FEES TO EURO-PRINCIPAL’S SIDE:
TO BE
PAID BY THE EURO PRINCIPAL TO THE BANK ACCOUNTS DESIGNATED BY THE PAYMASTER IN
“ANNEX D” ATTACHED.
B. CONSULTANCY
FEES TO USD-PRINCIPAL’S SIDE:
TO BE
PAID BY THE EURO PRINCIPAL TO THE BANK ACCOUNTS DESIGNATED BY THE PAYMASTER IN
“ANNEX D” ATTACHED.
7. CONSULTANCY FEES BANKING INSTRUCTIONS AND
INFORMATION:
THE EURO PRINCIPAL SHALL RELEASE AND
OTHERWISE TRANSFER FUNDS IN THE FORM OF USD or
optional also in EURO for the paymasters of the EURO-side FOR PAYMENT OF
THE PAY ORDERS – FEE AGREEMENT- ATTACHED HEREWITH TO THE EURO AND USD
PAYMASTERS, TO THE NOMINATED BANK ACCOUNTS INDICATED IN THE PAY ORDERS, BY
SWIFT WIRE TRANSFER. ALL PAYMENTS TO Paymasters
WIRE TRANSFERS SHALL STATE THE FOLLOWING INSTRUCTION:
“FOR
IMMEDIATE CREDIT- instant cash payment - same day value”
8. OTHER TERMS AND CONDITIONS:
8.1. EXCHANGE RATE: Exchange rate
is agreed as the official inter-bank exchange rate as of the date of exchange.
The day when the EURO funds are TRANSFERRED for the transaction is considered
as Exchange date.
8.2. TERM OF AGREEMENT: THIS CONTRACTUAL AGREEMENT IS A
FULL RECOURSE COMMERCIAL COMMITMENT ENFORCEABLE UNDER THE LAWS OF THE JURISDICTION
OF UK, SWITZERLAND Germany OR Austria AS
IT APPLIES. AND SAID LAW SHALL GOVERN THE INTERPRETATION, ENFORCEABILITY,
PERFORMANCE, EXECUTION, VALIDITY AND ANY OTHER SUCH MATTERS REGARDING THIS
CONTRACT.
AND, IT IS IN FULL FORCE AND EFFECT UNTIL COMPLETION OF THE TRANSACTION AND IT IS LEGALLY BINDING UPON THE PARTIES SIGNATORIES, THEIR HEIRS, SUCCESSORS AND ASSIGNS, AGENTS, PRINCIPALS, ATTORNEYS AND ALL ASSOCIATED PARTIES INVOLVED IN THIS CONTRACT TRANSACTION.
AND, IT IS IN FULL FORCE AND EFFECT UNTIL COMPLETION OF THE TRANSACTION AND IT IS LEGALLY BINDING UPON THE PARTIES SIGNATORIES, THEIR HEIRS, SUCCESSORS AND ASSIGNS, AGENTS, PRINCIPALS, ATTORNEYS AND ALL ASSOCIATED PARTIES INVOLVED IN THIS CONTRACT TRANSACTION.
8.3. CODES OF IDENTIFICATION: THE PARTIES TO THIS CONTRACT AGREE THAT ALL DOCUMENTS
RELATED TO THIS TRANSACTION SHALL INDICATE THE CODES AS INDICATED HEREIN. IN ADDITION, THE CODES SHALL NOT BE CHANGED DURING THE TERM OF THIS TRANSACTION CONTRACT, INCLUDING ALL ROLLOVERS, RENEWALS, EXTENSIONS, AND ALL ADDITIONS
8.4. UNAUTHORIZED BANK COMMUNICATION: NEITHER PARTY IS ALLOWED TO CONTACT THE BANK OF THE
OTHER PARTY WITHOUT THE AUTHORIZATION OF THE PARTY WHOSE BANK IS TO BE
CONTACTED. ANY UNAUTHORIZED CONTACT ACT IS BREACH OF THIS CONTRACT.
8.5. TAXES, INSTITUTIONAL COSTS: BOTH PARTIES HERETO INDIVIDUALLY AND SEPARATELY
ACCEPT LIABILITY OF TAXES, IMPOSTS, LEVIES, DUTIES, OR CHARGES THAT MAY BE
APPLICABLE IN THE EXECUTION OF THEIR RESPECTIVE ROLES IN THIS TRANSACTION
8.6. PENALTY
CLAUSE FOR NON-PERFORMANCE: SHOULD ANY OF THE
PARTIES HEREIN FAIL TO PERFORM AS REQUIRED BY THIS CONTRACT , ONCE SIGNED , AND
AFTER THE TERM OF VALIDITY THEREOF HAD
EXPIRED , THEN , THE FAILING PARTY SHALL
INDEMNIFY THE OTHER PARTY FOR AN AMOUNT OF THE 1% OF THE TOTAL QUANTITY OF THE
TRANSACTION ; AND ONE PERCENT OF SAID ONE PERCENT SHALL BE PAID AND EQUALLY
DISTRIBUTED , TO EACH OF THE FACILITATORS THAT MADE THE INTRODUCTION OF THE
SIGNATORIES POSSIBLE , IF THE NON-DEFAULTING SIGNATORY TO THE CONTRACT FILES A DEFAULT CLAIM ,IF NOT, THEN, THE ONE
PERCENT SHALL BE PAID TO THE FACILITATORS ONLY . THE FACILITATORS HAVE THE
RIGHT TO MAKE A LEGAL CLAIM FOR SUCH AMOUNT OF ONE PERCENT AS IT APPLIES, OF
THE TOTAL AMOUNT CONTRACTED, IN ANY COURT 0F JURISDICTION AGAINST THE PARTY
FAILING TO PERFORM.
8.7. LAW AND ARBITRATION: THIS CONTRACT
IS A FULL RECOURSE COMMERCIAL COMMITMENT ENFORCEABLE UNDER THE LAWS OF
JURISDICTION OF THE COUNTRIES WHERE THIS TRANSACTION IS EFFECTUATED, AND ANY
DISPUTE IS TO BE RESOLVED UNDER THE ICC RULES FOR ARBITRATION, UNLESS THE
AGGRIEVED PARTY TAKES LEGAL ACTION IN A COURT OF JURISDICTION. THE SWISS,
BRITISH, GERMAN OR AUSTRIAN LAW SHALL BE THE APPLICABLE LAW, AS THE AGGRIEVED
PARTY MAY CHOOSE, AND SHALL GOVERN THE INTERPRETATION, CONSTRUCTION,
ENFORCEABILITY, PERFORMANCE, EXECUTION, VALIDITY AND ANY OTHER SUCH MATTERS
REGARDING THIS CONTRACTUAL AGREEMENT. THE PARTIES HERETO ACKNOWLEDGE AND AGREE
THAT ANY DISCREPANCY AND/OR DISPUTE IN APPLICATION OF THIS AGREEMENT WILL BE
SOLVED AMICABLY, BUT IF THIS IS NOT POSSIBLE, THE ARBITRATION PROCEDURE IS TO
BE FOLLOWED.
8.8. THIS CONTRACT IS INTENDED TO BE PERFORMED
IN ACCORDANCE WITH, AND ONLY TO THE EXTENT PERMITTED BY ALL APPLICABLE LAWS OF
JURISDICTION, ORDINANCES, RULES AND REGULATIONS. IF ANY PROVISION OF THIS CONTRACT
BE CONSIDERED INVALID OR UNENFORCEABLE, THEN, THE REMINDER OF THIS CONTRACT
SHALL NOT BE AFFECTED AND SHALL BE ENFORCED TO THE GREATEST EXTEND PERMITTED BY
LAW.
8.9. NON-DISCLOSURE AND
NON-CIRCUMVENTION: BOTH PARTIES ARE TO BE BOUND AND TO ABIDE BY THE
NON-CIRCUMVENTION NON-DISCLOSURE RULES OF ALL ISSUES BY THE ICC, PARIS /
FRANCE, LAST EDITION OF WHICH SHALL APPLY TO THIS TRANSACTION FOR A PERIOD OF
FIVE (5) YEARS, NO MATTER WHETHER DIRECT OR INDIRECT.
8.10. EDT-
ELECTRONIC DOCUMENT TRANSMITTAL & COUNTERPARTS: THIS CONTRACT MAY BE EXECUTED IN MULTIPLE
COPIES AT DIFFERENT TIMES AND PLACES, EACH BEING CONSIDERED AN ORIGINAL AND
BINDING. ALL FACSIMILE / ELECTRONIC TRANSMITTAL/ COMMUNICATIONS RELATING TO
THIS TRANSACTION AND WHICH ARE MUTUALLY ACCEPTED BY THE PARTIES, SHALL BE
DEEMED LEGALLY BINDING AND ENFORCEABLE DOCUMENTS FOR THE DURATION OF THE
TRANSACTION.
8.11.
COPIES OF CONTRACT: No
copies of this Agreement are to be provided to third parties, The Paymasters in
charge of distributing commission to all Beneficiaries, Facilitators and
Consultants, shall receive a copy of the Master Fee Protection Agreement
(MFPA), bearing identical Transaction Code, USD-P Code and EURO-P Code as this
PFCEA, as Appendix to this PFCEA under same Transaction Code, USD-P Code and
EURP Code.
8.12.
FORCE MAJEURE: THE “FORCE MAJEURE” EXCEPTION CLAUSE OF THE INTERNATIONAL
CHAMBER OF COMMERCE (ICC PUBLICATION NO. 650) IS HEREBY
INCORPORATED AND MADE AN INTEGRAL PART OF THIS AGREEMENT. A PARTY CANNOT BE
HELD IN DEFAULT IF THE REASON IS CAUSED BY FORCE MAJEURE. CASE MAY BE, WHEN
EXECUTED BY BOTH PARTIES.
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