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    2014 03 31 Financing Octo 92

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    martinqica
    The document outlines financing terms for Grupo Altex to purchase an OctoFrost model 9/2 equipment from IQF Frost AB for a total of $893,822 over 10 semi-annual payments at 0.055% interest. Key conditions include an advance payment at order, bills of exchange to be signed by both parties and verified by Grupo Altex's bank, late fees of 15% annually and $1,000 protest cost per bill of exchange if payments are delayed, and retention of ownership by IQF Frost AB until final payment. Additional guarantees may include notarization, a parent company guarantee, or bank guarantee.

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    2014 03 31 Financing Octo 92

    Uploaded by

    martinqica
    3 views1 page
    The document outlines financing terms for Grupo Altex to purchase an OctoFrost model 9/2 equipment from IQF Frost AB for a total of $893,822 over 10 semi-annual payments at 0.055% interest. Key conditions include an advance payment at order, bills of exchange to be signed by both parties and verified by Grupo Altex's bank, late fees of 15% annually and $1,000 protest cost per bill of exchange if payments are delayed, and retention of ownership by IQF Frost AB until final payment. Additional guarantees may include notarization, a parent company guarantee, or bank guarantee.

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    The document outlines financing terms for Grupo Altex to purchase an OctoFrost model 9/2 equipment from IQF Frost AB for a total of $893,822 over 10 semi-annual payments at 0.055% interest. Key conditions include an advance payment at order, bills of exchange to be signed by both parties and verified by Grupo Altex's bank, late fees of 15% annually and $1,000 protest cost per bill of exchange if payments are delayed, and retention of ownership by IQF Frost AB until final payment. Additional guarantees may include notarization, a parent company guarantee, or bank guarantee.

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    © All Rights Reserved
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    Download as pdf or txt
    3 views1 page

    2014 03 31 Financing Octo 92

    Uploaded by

    martinqica
    The document outlines financing terms for Grupo Altex to purchase an OctoFrost model 9/2 equipment from IQF Frost AB for a total of $893,822 over 10 semi-annual payments at 0.055% interest. Key conditions include an advance payment at order, bills of exchange to be signed by both parties and verified by Grupo Altex's bank, late fees of 15% annually and $1,000 protest cost per bill of exchange if payments are delayed, and retention of ownership by IQF Frost AB until final payment. Additional guarantees may include notarization, a parent company guarantee, or bank guarantee.

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    © All Rights Reserved
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    of 1

    5 years + 9 month.

    - half year payments EKN FINANCING TERMS


    (All amounts in USD)
    Buyer Grupo Altex
    Equipment OctoFrost model 9/2
    Date 2014 03 24

    Payments Date of action Credit amount Repayment Interest % Interest USD Payments Total
    USD
    Down Payment 15-maj-2014 118 800 118 800
    Shipment 2-sep-2014

    1st payment 4-mar-2015 673 200 67 320 0,055 18 513 85 833 204 633
    2nd payment 3-sep-2015 605 880 67 320 0,055 16 662 83 982 288 615
    3rd payment 4-mar-2016 538 560 67 320 0,055 14 810 82 130 370 745
    4th payment 3-sep-2016 471 240 67 320 0,055 12 959 80 279 451 024
    5th payment 4-mar-2017 403 920 67 320 0,055 11 108 78 428 529 452
    th
    6 payment 3-sep-2017 336 600 67 320 0,055 9 257 76 577 606 029
    7th payment 5-mar-2018 269 280 67 320 0,055 7 405 74 725 680 754
    th
    8 payment 4-sep-2018 201 960 67 320 0,055 5 554 72 874 753 628
    9th payment 6-mar-2019 134 640 67 320 0,055 3 703 71 023 824 650
    10th payment 5-sep-2019 67 320 67 320 0,055 1 851 69 171 893 822
    All payment amounts (1-6) includes the interest. 1st payment is to be paid 6 months after the delivery and then one each 6-months.

    Conditions for financing:


    - Financing subject to approval by EKN
    - Advance payment paid at order

    - Credit documented with Bills of Exchange (B/E's).


    - B/E's to be signed by both parties and the signatures of the Buyer needs to be verified by local bank
    (Separate instructions for this will be sent out together with the B/E's).

    - All bank charges caused by the Buyer's non-observance to follow the agreed payment plan, shall be borne by the Buyer.
    - All instalments are subject to late payment charges of 15% p.a and a protest cost of EUR 1000 for each B/E, in case of delay.

    - IQF Frost AB (Seller) keep Retention of Ownership of the Equipment until last payment has been made
    - Possible additional guarantees: Notification by Notarius Publicus, Parent Company guarantee, bank guarantee

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