PROCEDURES:
1.
KTT SENDER and KTT RECEIVER execute, sign and initial this Deed of Agreement which thereby automatically becomes a full commercial recourse contract.
2.
KTT SENDER will provide a Pre-advise via Telex and KTT RECEIVER should reply Readiness and ASSURANCE via Telex – as Bank Protocol.
3.
Upon receiving reply READINESS AND ASSURANCE from KTT RECEIVER Bank, KTT RECEIVER should issue payment undertaking acknowledged by the Payment Banker to KTT SENDER & INTERMEDIARIES.
4.
Upon receiving the payment undertaking, KTT SENDER will delivery KTT MT103 and KTT RECEIVER should reply with request RECONFIRMATION from KTT SENDER (if needed).
5.
Upon done KTT MT103 delivered, payment should be released within 72 hrs.
6.
KTT ISSUER will cause his Issuing Bank of the KTT MT 103, to issue a CONFIRMATION FOLLOWED upon delivery the First KTT MT103 with text as follows:
SEE THE ATTACHED VERBIAGE; ANEX A AND B.
REFERENCE: AFFIRMATION AND CONFIRMATION OF KTT MT103 sent on xxxx at xx:xx
WITH REFER TO OUR CLIENT INSTRUCTION, WE, xxxxx
BANK, xxxxxBANK ADDRESS, wITH FULL BANK RESPONSIBILITY HEREBY PRESENT OUR AFFIRMATION AND CONFIRMATION OF THE KTT MT103 MESSAGE DELIVERY ON XXXXX, AT XX:XX FOR BENEFICIARY NAME: XXXXXX, MESSAGE CONTENT IS BELOW:
QUOTED:
PLEASE PUT THE SAME VERBIAGE FROM THE FIRST ktt mt103.
unquoted
sincerely,
for and on behalf of
NORDEA bank
officer name officer name
title/id title/id
7.
Upon receiving the Confirmation Telex Message from the KTT SENDING bank to the KTT Receiving bank, the account holder must cause his bank to issue payments to the paymaster and principal issuers account as detailed bellow (Probable Answer to the Question on Draw down Code).
8.
Payment within 72 hours of KTT MT103 (Two Ways with Confirmation Followed) accepted by KTT RECEIVER, to the nominated account of KTT ISSUER and per instructions on FEE PROTECTION AGREEMENT.
9.
KTT SENDER: BENEFICIARY BANK CO-ORDINATES WHERE PAYMENT OF ISSUER 90% WILL BE FORWARD:-
SAMPLE TELEX KTT MT103 VERBIAGE FORMAT
Confirmable KTT MT103(2 WAYS) Verbiage
DELIVERED COPY :
TRANSMISSION :
REF :
TRANSMISSION CODE :
COUNTRY :
DATE OF ISSUE :
FROM SENDING BANK :
COMPANY NAME :
COMPANY ADDRESS :
BANK NAME :
BANK ADDRESS :
ACCOUNT N° :
TO RECEIVING BANK:
BANK NAME :
BANK ADDRESS :
CORRESPONDING BANK :
SWIFT :
IBAN :
SORT CODE :
ACCOUNT NUMBER :
NAME CUSTOMER :
ACCOUNT NUMBER :
ACCOUNT ID :
BANK OFFICER :
EMAIL BANK OFFICER
BANK TELEPHONE :
BANK FAX :
ACCOUNT REFERENCE
*** WE, XXXXXXXXXXXXX.FOR AND BEHALF OF OUR ACCOUNT HOLDER XXXXXXXXXXXXXXXX WITH FULL BANKING RESPONSIBILITY HEREBY PRESENT OUR IRREVOCABLE, TRANSFERABLE AND CONFIRMED CASH TRANSFER IN FAVOR OF XXXXXXXXXXXXXXXX IN THE AMOUNT OF EURO ONE BILLION (EUR 1,000,000,000.00) FOR INVESTMENT PURPOSE. WE HEREBY CONFIRM THAT THE FUNDS ARE GOOD, CLEAN, CLEARED FROM ANY CRIMINAL ORIGIN AND ARE FROM LEGAL SOURCE. THIS IRREVOCABLE KTT IS BINDING FULLY PERFORMED DUE BILL AND IMMEDIATELY CALLABLE FOR CASH PAYMENT, WE CONFIRM THAT PAYMENT SHOULD BE RELEASED IMMEDIATELY. THIS UNDICONDITIONAL, IRREVOCABLE, ASSIGNABLE, TRANSFERABLE AND CALLABLE KTT103 WIRE TRANSFER IS VALID FOR SAME DAY PAYMENT, THE DAY OF RECEIPT. THIS IS AN OPERATIVE INSTRUMENT FOR AND ON BEHALF OF XXXXXX BANK SUBJECT TO THE EUROPEAN REMITTANCE REGULATION, FOR IMMEDIATE CREDIT CASH PAYMENT SAME DAY VALUE TO BENEFICIARY BANK ACCOUNT, PLEASE ADVISE BENEFICIARY FUND TRANSFER OF THE AMOUNT OF ONE BILLION (EUR 1,000,000,000.00) NO HARD COPY WILL FOLLOW .
FOR AND ON BEHALF XXXXXXXXXXXXX BANK
_________________________________ __________________________
AUTHORIZED OFFICER AUTHORIZED OFFICER
XXXXXXXXX XXXXXXXXX
ID: XXXXXX ID: XXXXXXX
TITLE: XXXXXX TITLE: XXXXXX
*** UNQUOTE
