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    MT 998

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    Santo Xing
    Suisse Credit Capital Limited has issued a performance bank guarantee of USD 118,750 to Whashin Industrial Co., Ltd. on behalf of First Eastern Spectrum Sdn. Bhd. The guarantee is to secure a contract for the supply of refined white sugar from First Eastern Spectrum Sdn. Bhd. to Whashin Industrial Co., Ltd. and is valid until February 17, 2017. The bank guarantee can be called upon by Whashin Industrial Co., Ltd. if First Eastern Spectrum Sdn. Bhd. breaches its obligations under the supply contract.

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    MT 998

    Uploaded by

    Santo Xing
    5K views2 pages
    Suisse Credit Capital Limited has issued a performance bank guarantee of USD 118,750 to Whashin Industrial Co., Ltd. on behalf of First Eastern Spectrum Sdn. Bhd. The guarantee is to secure a contract for the supply of refined white sugar from First Eastern Spectrum Sdn. Bhd. to Whashin Industrial Co., Ltd. and is valid until February 17, 2017. The bank guarantee can be called upon by Whashin Industrial Co., Ltd. if First Eastern Spectrum Sdn. Bhd. breaches its obligations under the supply contract.

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    Mt998

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    Mt998

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    Suisse Credit Capital Limited has issued a performance bank guarantee of USD 118,750 to Whashin Industrial Co., Ltd. on behalf of First Eastern Spectrum Sdn. Bhd. The guarantee is to secure a contract for the supply of refined white sugar from First Eastern Spectrum Sdn. Bhd. to Whashin Industrial Co., Ltd. and is valid until February 17, 2017. The bank guarantee can be called upon by Whashin Industrial Co., Ltd. if First Eastern Spectrum Sdn. Bhd. breaches its obligations under the supply contract.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    5K views2 pages

    MT 998

    Uploaded by

    Santo Xing
    Suisse Credit Capital Limited has issued a performance bank guarantee of USD 118,750 to Whashin Industrial Co., Ltd. on behalf of First Eastern Spectrum Sdn. Bhd. The guarantee is to secure a contract for the supply of refined white sugar from First Eastern Spectrum Sdn. Bhd. to Whashin Industrial Co., Ltd. and is valid until February 17, 2017. The bank guarantee can be called upon by Whashin Industrial Co., Ltd. if First Eastern Spectrum Sdn. Bhd. breaches its obligations under the supply contract.

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    --------------------------- MESSAGE HEADER -------------------------

    SWIFT INPUT : FIN 998 PROPRIETARY MESSAGE


    SENDER : SBLTGB2LXXX
    SUISSE CREDIT CAPITAL (2009) LIMITED
    LONDON GB
    RECEIVER : HVBKKRSEXXX
    --------------------------- MESSAGE TEXT ---------------------------
    20: TRANSACTION REFERENCE NUMBER
    701/1127-4/5212
    12: SUB-MESSAGE TYPE
    798
    77E: PROPRIETARY MESSAGE
    ATTN: REPEATEDLY MT760 DATED:170118 SENT TO YOUR GOOD BANK VIA SOGEKRSE.
    .
    QUOTE (1)
    .
    27: SEQUENCE OF TOTAL
    1/1
    20: TRANSACTION REFERENCE NUMBER
    701/1127-4/5212
    23: FURTHER IDENTIFICATION
    ADVISE
    30: DATE OF ISSUE
    170118
    40C: APPLICABLE RULES
    OTHER
    77C: DETAILS OF GUARANTEE
    PERFORMANCE BANK GUARANTEE
    .
    DEAR SIRS, WE RELAY THIS MESSAGE AS RECEIVED FROM SUISSE CREDIT CAPITAL LTD,
    97 JUDD STREET, LONDON WC1H 9 JG, RNZ: 3618711, UK, PLEASE ADVISE THIS
    MESSAGE TO SWIFT CODE: HVBKKRSEXXX (WOORI BANK, BANGWHA STATION BRANCH, SEOUL
    KOREA) FOR ITS RECIPIENT.
    .
    QUOTE
    .
    BENEFICIARY: WHASHIN INDUSTRIAL CO., LTD.
    NO. 123-11, YANGCHUNRO-30GIL, KANGSUH-KU, SEOUL KOREA 07595
    APPLICANT: FIRST EASTERN SPECTRUM SDN. BHD.
    NO.19&20, JALAN 1/2, GOPENG INDUSTRIAL PARK, 31600, GOPENG,
    PERAK DARUL RIDZUAN, MALAYSIA
    CURRENCY: USD
    AMOUNT: 118 750.00 USD
    DATE OF ISSUE: 170118
    DATE OF EXPIRY: 170217

    WE HAVE BEEN INFORMED THAT FIRST EASTERN SPECTRUM SDN. BHD.(HEREINAFTER


    CALLED ‘THE APPLICANT’) HAS ENTERED INTO A CONTRACT WITH WHASHIN INDUSTRIAL
    CO. LTD.(HEREINAFTER CALLED ‘THE BENEFICIARY’), DATED 18th JANUARY, 2017,
    TRANSACTION CODE/CONTRACT NUMBER PRO FORMA NUMBER FB/THAI-LAEM-
    CHABANG/SGR/11/16/13 FOR THE SUPPLY OF THAILAND REFINED WHITE SUGAR ICUMSA 45
    THAT A PERFORMANCE BANK GUARANTEE OF TWO (2) PERCENT IS REQUIRED, IN THE SUM
    OF USD 118,750.00 (ONE HUNDRED EIGHTEEN THOUSAND SEVEN HUNDRED FIFTY USD) FOR
    12,500 X 12 MT PER SHIPMENT INITIAL.

    FURTHERMORE, WE UNDERSTAND THAT, ACCORDING TO THE CONDITIONS OF THE CONTRACT,


    A PERFORMANCE BANK GUARANTEE IS REQUIRED.

    AT THE REQUEST OF THE APPLICANT, WE, SUISSE CREDIT CAPITAL LIMITED, ADDRESS:
    97 JUDD STREET, LONDON WC1H 9JG, UNITED KINGDOM, RNZ:3618711, HEREBY
    IRREVOCABLY UNDERTAKE TO PAY TO YOU ANY SUM OR SUMS NOT EXCEEDING IN TOTAL AN
    AMOUNT OF USD118,750.00(SAY US DALLARS ONE HUNDRED EIGHTEEN THOUSAND SEVEN
    HUNDRED FIFTY ONLY) UPON RECEIPT BY US OF YOUR FIRST DEMAND WITH OUR PRIOR
    WRITTEN CONSENT OUR MT799 (COPY ATTACHED) IN WRITING AND YOUR WRITTEN
    STATEMENT STATING THAT :

    (I)THAT THE APPLICANT IS IN BREACH OF HIS OBLIGATION(S) UNDER THE UNDERLYING


    CONTRACT(S) : AND
    (II) THE RESPECT IN WHICH THE APPLICANT IS IN BREACH.

    THIS GUARANTEE IS VALID UNTIL THE OFFICIAL CLOSING TIME ON 17TH FEBRUARY, 2017
    IN SEOUL KOREA (HEREINAFTER CALLED ‘THE EXPIRY DATE’) AND AFTER THE EXPIRY
    DATE THIS GUARANTEE WILL BECOME NULL AND VOID AUTOMATICALLY WHETHER RETURNED
    TO US OR NOT.

    CONSEQUENTLY, ANY DEMAND FOR PAYMENT UNDER IT MUST BE RECEIVED BY US AT THIS


    OFFICE ON OR BEFORE THE EXPIRY DATE.

    THIS IS AN OPERATIVE INSTRUMENT AND THIS GUARANTEE IS SUBJECT TO THE UNIFORM


    RULES FOR DEMAND GUARANTEE (URDG) 2010 REVISION,ICC PUBLICATION NO. 758,
    UNLESS OTHERWISE EXPRESSLY STATED IN THE GUARANTEE.

    ALL BANKING CHARGES OUTSIDE SEOUL KOREA ARE FOR ACCOUNT OF THE BENEFICIARY.

    FOR AND ON BEHALF OF


    SUISSE CREDIT CAPITAL LIMITED RNZ:3618711
    .
    UNQUOTE
    .
    UNQUOTE (1)
    .
    REGARDS
    SBLTGB2L

    --------------------------- MESSAGE TRAILER ------------------------

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