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PGL - F1
PGL - F1
TO
This is our irrevocable pay order to the Introducer/facilitators, and shall remain
an integrate part of the referenced project.
I, confirmed to execute this Payment Guarantee Letter by hand sign on blue ink to
proof its genuineness, and shall initiate payment to all beneficiaries designated
herein after Seventy Two (72) hours of business conclusion.
ARBITRATION: All disputes and questions whatsoever which arises between the Payor,
Receiver and/or Beneficiaries/Project Developers to this Agreement and touching on
this PGL on the construction or application thereof or any account cost, liability
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to be made hereunder or as to any act or way relating to this Agreement, shall be
settled by the arbitration in accordance with the arbitration laws applicable in
Malaysia.
This PGL is an integral part of the entire agreement concerning the subject matter
hereof. Neither of the Parties may alter, amend, nor modify this PGL, except by an
instrument in writing signed by both Parties. This PGL will be governed by and
construed in accordance with the laws of Malaysia. In the event that either Party
shall be required to bring any legal actions against the Payor in order to enforce
any of the terms of this PGL the prevailing party shall be entitled to recover
reasonably attorney fees and costs.
Parties to this PGL are independent contractors and all contemplated payments
and/or disbursements hereunder are divided interests. Nothing in this PGL construes
or creates a partnership or employer/employee relationship between or among the
Payer and recipient(s) of payment. All taxes, Federal, State or other are the
independent responsibility of each of the recipient party hereto.
THIS IRREVOCABLE PAYMENT GUARANTEE LETTER WILL COME INTO EFFECT WITHIN 24 (TWENTY-
FOURS) AFTER BOTH PARTIES HAVE EXECUTED THE AGREEMENT.
NOTE: EVERY BENEFICIARY HAVE THE RIGHT TO CHANGE HIS OR HER RECEIVING ACCOUNT OR
USE MULTIPLE ACCOUNTS TO RECEIVE HIS OR HER PAYMENT WITHOUT HICCUP.
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AGREED AND ACCEPTAED BY THE RECEIVER:
Sign:___________________________
The Parties hereto covenant and agree that each of them will execute such other
and further instruments and/or documents as may become reasonably necessary so
as to effectuate the purpose of this Agreement.