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Private Foreign Currency Exchange Agreement Euro ( Eur) For Us Dollars ($ Usd)
Private Foreign Currency Exchange Agreement Euro ( Eur) For Us Dollars ($ Usd)
PRIVATE FOREIGN CURRENCY EXCHANGE AGREEMENT EURO ( EUR) FOR US DOLLARS ($ USD) Bank to Bank Swift MT103
This private foreign exchange transaction agreement and the five (5) attached Annexes are entered on Aug. 24, 2011 by and between:
USD PRINCIPAL
REPRESENTED BY ADDRESS COUNTRY PASSPORT NO
:
: : : :
AND
EURO PRINCIPAL : Muhammad Ashraf
ADDRESS COUNTRY PASSPORT NO : NASIR SIQAIR, DEIRA DUBAI, : UNITED ARAB EMIRATES : BR-1844672/PAKISTAN
EURO US DOLLARS
DESCRIPTION OF THE UNITED STATES DOLLARS (USD) CURRENCY: CURRENCY ORIGIN OF CURRENCY YEAR OF CURRENCY ISSUE : UNITED STATES DOLLARS; LEGAL TENDER OF USA. : NON-CRIMINAL ORIGIN. : CURRENT VALID CURRENCY; IN CIRCULATION, FREE FROM
EURO INITIAL
USD INITIAL
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: 50 BILLION USD WITH R & E : USD 49.5 MILLION USD : PER TRANCHE AS AGREED
DESCRIPTION OF THE EURO (EUR) CURRENCY: CURRENCY ORIGIN OF CURRENCY YEAR OF CURRENCY ISSUE : EUROS, LEGAL TENDER OF E. U. : NON-CRIMINAL ORIGIN. : CURRENT VALID CURRENCY; IN CIRCULATION, FREE FROM ANY LIENS OR ENCUMBRANCES, FREELY TRADABLE IN ANY COUNTRY : EQUIVALENT AMOUNT OF 50 BILLION USD WITH R & E : EQUIVALENT AMOUNT OF USD 49,5 MILLION USD : PER TRANCHE AS AGREED
CONTRACT QUANTITY FIRST TRANCHE SUBSEQUENT TRANCHES TRANSACTION CONDITIONS: TRANSACTION MODE RATE OF EXCHANGE BONUS CONSULTANCY FEES USD PRINCIPAL SIDE EURO PRINCIPAL SIDE FEE TRANSACTION MODE
: BANK TO BANK (SWIFT MT103 OR AS AGREED) : LONDON MORNING FIXING INTER-BANK EXCHANGE RATE. : GROSS 15% USD; NET 10% TO THE EURO PRINCIPAL : TOTAL OF 5% ALLOWED TO BE SPLIT ON 50 / 50 BASIS : 2.5% TO USD-PS SIDE, TO BE PAID BY EURO PRINCIPAL : 2.5% TO EURO-PS SIDE, TO BE PAID BY EURO PRINCIPAL : FROM EURO-PS BANK UNCONDITIONALLY TO PAYMASTERS.
2)
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QUOTE Security Code: "We, _____________________________ , hereby confirm under full bank responsibility that our client ________________________________ is ready and able to provide clean, clear and non-criminal USD free from any charges or taxes and exchange the first tranche of USD 49.500.000,- (forty nine point five MILLION United States of America Dollars). The Funds came from our Client Business: ____________________ Business from the last 6 Years. Please confirm to us under full bank responsibility if your client Mr XXXXX XXXXX, is ready and has the ability to receive the USD 49.500.000,- (forty nine point five MILLION United States of America Dollars) and that your Bank, on behalf of your client, will pay in EUROS the quantity to be exchanged, as per terms and conditions of the Agreement signed, immediately after your Bank has received and verified our conditional SWIFT wire MT103 for the above USD. UNQUOTE EUR Providers bank responds immediately VIA MAIL as follows: QUOTE Security Code: "Yes, our bank---------------, confirms under full bank responsibility that our client, Mr.------------, is ready and has the ability to receive the Quantity of USD 49.500.000,(forty nine point five MILLION United States of America Dollars), to be exchanged as per terms and conditions of Agreement signed, by unconditional SWIFT wire and that he is ready and able to provide clean, clear and non-criminal EUROS free from any charges or taxes, after receiving and verifying the USD, to the coordinates provided by the USD Principal, with same day credit. Please include in text of SWIFT MT103 the security code XXXXXXX for each transfer. (It is necessary to say that without this security code, no transfer can be done). UNQUOTE 4) THE USD PRINCIPALS BANK TRANSFERS AT A SPECIFIED TIME: 02 PM Euro time, USD VIA MT103 CONDITIONAL SWIFT TO THE EURO PRINCIPALS CLOSING BANK COORDINATES THE FIRST TRANCHE OF 49,5 MIO USD.
5) UPON VERIFICATION AND AUTHENTICATION, THE EURO PRINCIPALS CLOSING BANK SHALL
THEN SEND, WITHIN EIGHT (8) BANKING HOURS, VIA SWIFT MT103 UNCONDITIONALLY THE EURO TO THE USD PRINCIPALS RETURN BANK IN ACCORDANCE WITH THE BANKING INSTRUCTIONS WITHIN THIS AGREEMENT.
USD INITIAL EURO INITIAL
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6) FURTHER TRANCHES ARE TO BE CONTINUED AS PER THE ABOVE PROCEDURE UNTIL THE
USD IS EXHAUSTED OR THE AMOUNT OF AGREEMENT IS COMPLETED. BANKING COORDINATES OF EURO PRINCIPAL AND USD PRINCIPAL AS PER ANNEX A The Parties must follow the guidelines provided by the rules of the banks on the AntiTerrorism Act and the Patriot Act I and II. The Buyer will not be held responsible for any harmful money laundering.
4. BANKING COORDINATES AND INSTRUCTIONS FOR USD-P AND EUR-P: The respective bank account details are listed in ANNEX A attached and cannot be changed for the life of this agreement without written notice given to all beneficiaries of consulting fees and commissions five days prior to any change. 5. CONSULTANCY FEES: The PAYOR 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. B. CONSULTANCY FEES TO EURO-PRINCIPALS SIDE: To be paid by the EURO Principal to the bank accounts designated by the PAYMASTERS in ANNEX C ATTACHED. CONSULTANCY FEES TO USD-PRINCIPALS SIDE: To be paid by the EURO Principal to the bank accounts designated by the PAYMASTER in ANNEX C ATTACHED.
6. CONSULTANCY FEES BANKING INSTRUCTIONS AND INFORMATION: THE EURO PRINCIPAL shall release and otherwise transfer funds in the form of USD for payment of The PAY ORDERS Fee Agreement- attached herewith to the EUR and USD FACILITATORS & BENEFICIARIES, to the nominated bank accounts indicated in the Pay Orders, by SWIFT WIRE TRANSFER. All payments to facilitators wire transfers shall state the FOLLOWING instruction: FOR IMMEDIATE CREDIT- instant cash payment - same day value 7. OTHER TERMS AND CONDITIONS:
1. EXCHANGE RATE: The exchange rate is agreed as the official inter-bank exchange rate
fixed in the morning as of the date of exchange. The day when the EUROS funds are deposited in the USD Account for the transaction is considered as Exchange date.
2. TERM OF AGREEMENT:
This contractual Agreement is a full recourse commercial commitment enforceable under the laws of the jurisdiction of USA, UK, Switzerland or any European Union country as it applies. And said law shall govern the interpretation, enforceability, performance, execution, validity and any other such matters regarding this Contract.
EURO INITIAL
USD INITIAL
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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.
3. CODES OF IDENTIFICATION: The Parties to this contract agree that all documents
related to this transaction shall indicate the codes as indicated herein. And, the codes shall not be changed during the term of this transaction contract, including all rollovers, renewals, extensions and all additions. 4.
6. 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.
USD INITIAL
EURO INITIAL
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12. FORCE MAJEURE: The FORCE MAJEURE exception clause of the International Chamber
of Commerce (ICC Publication No. 421) 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. 13.DOCUMENTS: PASSPORT, CIS, BOARD RESOLUTION, HISTORY OF FUNDS, LETTER OF INTENT, NCND, EXCLUSIVE RIGHT
IN WITNESS WHEREOF, The undersigned have read this document and had advise of its legality and after understanding the content of this contract written in the English language, by knowledge of the language or by professional translation to the partys language and legal advise, and initialed all the pages of this contract and, fully understand and agree that its execution constitutes an acceptance of all of its mutually protective covenants, terms and conditions, and is lawfully binding upon the Parties, and their legal heirs, successors, representatives and assignees.
DATE:
: :
EURO INITIAL
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--------------------------------------------------SIGNATURE : DATE: 24/8/2011 NAME : MUHAMMAD ASHRAF ADDRESS COUNTRY PASSPORT NO : DEIRA, DUBAI : UNITED ARAB EMIRATES : BR-1844672/PAKISTAN
ANNEX A
USD PRINCIPALS BANKING COORDINATES: ACCOUNT TO SEND USD:
BANK NAME BANK ADDRESS ACCOUNT NAME ACCOUNT N IBAN CODE SWIFT / BIC CODE BANK OFFICER TELEPHONE N. FACSIMILE N E-MAIL BANK
USD INITIAL
: : : : : : : : : :
EURO INITIAL
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ANNEX B
THE TRANCHE SCHEDULE (ALL AMOUNTS BELOW ARE IN USD):
USD INITIAL
EURO INITIAL
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DAY 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
AMOUNTS / TRANCHES 49.500.000 450.500.000 1.000.000.000 1.500.000.000 2.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000
TOTAL PER DAY 49.500.000 450.500.000 1.000.000.000 1.500.000.000 2.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000 3.000.000.000
COMPLETED TRANSACTION TOTAL 49.500.000 500.000.000 1.500.000.000 3.000.000.000 5.000.000.000 8.000.000.000 11.000.000.000 14.000.000.000 17.000.000.000 20.000.000.000 23.000.000.000 26.000.000.000 29.000.000.000 32.000.000.000 35.000.000.000 38.000.000.000 41.000.000.000 44.000.000.000 47.000.000.000 50.000.000.000
TRANCHES WILL BE AGREED BY THE BANKS. ADDITIONAL TRANCHES WILL BE IN THE SAME AMOUNTS. IF A TRANCHE DAY IS A NATIONAL HOLIDAY, THE EXCHANGE IS TO BE EXECUTED IN THE NEXT SUBSEQUENT OR IN THE PRIOR BANKING DAY. ALL OTHER TERMS AND CONDITIONS WILL BE IN ACCORDANCE WITH THIS CONTRACT.
ANNEX C
IRREVOCABLE FEE AGREEMENT / PAY ORDER TO FACILITATORS FOR THE TRANSACTION OF THE PRIVATE FOREIGN CURRENCY EXCHANGE AGREEMENT
USD INITIAL EURO INITIAL
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B) EURO SIDE: 2.5% SELLER SIDE COMMISSION OF THE TOTAL CONTRACT AMOUNT
USD PROVIDER `S SIDE A.1 Group 1: USD PROVIDERS SIDE: 2.50 % (CLOSED):
Total amount 2.50 % (two point fifty percent) of each and every trance referred in the agreement including all rolls and extensions.
COMMISSION FEES, USD PRINCIPALS SIDE: 100% of 2.50 % of the Total face value of the contract in each and every trance referred in the agreement including
USD INITIAL EURO INITIAL
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all rolls and extensions. A) Paymaster for Name Passport Number: ID Bank Name Bank Address Bank Phone Bank Officer Account Name Account Number IBAN S.W.I.F.T. Code Beneficiary: 2.50% of Total Contract value including with all rolls & Extensions.
USD INITIAL
EURO INITIAL
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Morningstar Ventures Ltd/Alexander Sullivan Sperber As per sub-fee agreement between them EI219218/Belgium
Beneficiary
USD INITIAL
EURO INITIAL
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Required Message
CLOSED
EURO INITIAL
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Required Message
BANK ENDORSEMENT / RECEIPT OF DEPOSIT: we hereby acknowledge and confirm this payment agreement/ pay order document is lodged in our bank and the fees are to be paid as per instructions, upon commencement of this transaction. That would be done after the Seller has fill-in his details and after he has sign the contract
-----------------------------------------------SIGNATURE: DATE: 24/8/2011 NAME : MUHAMMAD ASHRAF ADDRESS : DEIRA DUBAI COUNTRY : UNITED ARAB EMIRTIES PASSPORT NO : BR-1844672/PAKISTAN
USD INITIAL
EURO INITIAL
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ANNEX D
ORIGIN OF FUNDS Funds History USD Provider
The undersigned, having been duly sworn and with full authority and responsibility for his Affidavit of Origin of Funds on behalf of _______, LLC or Corporation, a limited liability company affirms his responses as follows: Bank Name / Address Phone / Fax / Contact Account holders name: Account number: 1) : :
Funds are legally earned, taxed, and include no independent third-party managed funds, having been transferred to the Applicants account from ___ (describe where funds came from and $ amount) _______. All information supplied in the documentation submitted and the cash involved, are not in violation of the Patriot Act of October 26, 2001, and amendments thereto, with its related financial crimes counterparts, however interpreted, defined and enacted, whether within the United States its host jurisdiction of this statement or internationally. Subject funds have no liens, commercial obligations, or encumbrances of any kind pertaining to said cash asset.
2)
3)
4)
Funds owner is not a party to a law suit or pending adverse legal action, further, there are no pending contracts existing, or about to exist, that could affect said cash assets.
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Passport Number:
ANNEX E
The USD Provider and the EURO P presents the legal tender United States Dollars (USD) and EUROS available in a bank and warrants under penalty of perjury laws of jurisdiction as it applies, that the US DOLLAR and EURO funds are totally derived from legal sources and not from any illegal drug traffic or money laundering activities, terrorist group or association and neither from any other criminal activity, and confirms that the funds are good, clean, clear, of non-criminal origin, free from any liens and taxes, freely transferable to be exchanged for Euros (EURO) and USD The parties must follow the guidelines provided by the rules of the banks on the Anti-Terrorism Act and the U.S.A. Patriot Act I and II. The USD-PR and EURO-PR will not be held responsible for any harmful money laundering. Each Party, individually and separately, accepts liabilities on taxes, import, levies, duties or charges that may be applicable while in the execution of their institutional role.
-------------------------------USD P NAME
PASSPORT NO
USD INITIAL
EURO INITIAL
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