Trade Lead Description:
We have a bank Guarantee to sell
This Bank Guarantee (BG) will be issued by HSBC in the amount of United States Dollars One Hundred Twenty Billion (US$ 120’000’000’000). It is agreed through amicable consultation between the parties that the following procedures shall be performed:
Specifications of instruments:
Transaction Type: Contract with Possible Rolls & Extensions
Instrument: Bank Guarantee (BG)
Issuing Bank: HSBC LONDON
Term: One (1) year and one (1) day
Age: Fresh Cut
Total Purchase: United States Dollars One Hundred Twenty Billion (US$ 120,000,000,000)
First Tranche: United States Dollars Ten Billion (US$ 10,000,000,000)
Subs Tranche: As agreed between Party A and Party B
Price: 82% of Face Value or better + 2% for consultant Fees
Delivery: Bank to Bank SWIFT followed by physical delivery
Verifying Mode: By Bank to Bank SWIFT to verify and reply
BG’s Subject: BGs are assignable, transferable, divisible, irrevocable, and shall be paid unconditionally at the issu
Posted from Senegal - Dakar on 5 December, 2006
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