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ESCROW PROCEDURES

Updated; 4/25/2012

 

ESCROW PROCEDURES & MUTUAL UNDERSTANDING BETWEEN BUYER & SELLER

IT IS RESPECTFULLY ADVISED THAT AN ESCROW ACCOUNT BE ESTABLISHED AS A SIGN OF PERFORMANCE BY THE BUYER AND SELLER (RECOMMENDED $500,000.00 EACH PARTY) ESTABLISHED ESCROW ACCOUNT WILL BE APPROVED AT BUYER’S OWN BANK AS LONG AS THERE IS A BRANCH OF THE SAME BANK INSIDE THE RUSSIAN FEDERATION TERRITORY.  BUYER SHOULD APPROVE THEIR BANK WITH THE SELLER AS BUYER’S BANK FOR ESCROW TRANSACTION.  SELLER WILL ALSO MATCH ON THE AGREED FUNDS OF USD $500,000. ADDITIONALLY THE SELLER WILL ALSO PROVIDE FULL POP AT THE ESCROW, AS AGREED BY THE ESCROW PROCEDURES DESCRIBED BELOW BETWEEN THE BUYER AND SELLER. ANY PARTY IN DEFAULT OF THIS AGREEMENT, SHALL SURRENDER THEIR USD 500,000.00 ESCROW PAYMENT TO NOMINATED BANK TO BE AWARDED TO THE PARTY OF COMPLIANCE.

 

ESCROW PROCEDURES

1) Buyer opens Escrow account of agreed amount USD $500,000 at buyer's bank (Sample HSBC bank etc.).  Buyer’s Bank Must also have Bank Branch to be located within Russia Federation see http://www.banki.ru/banks/ratings/?LANG=en. After establishing Escrow Account at buyer’s bank, The BUYER’S Bank Officer should contact the Russia Bank Officer where the name of Both the Buyer selected Branch & Russia Branch Officer names are on the same document, where both are aware of the ESCROW account.

2)  ONCE Buyer Opens the Escrow account with the agreed amount of USD $500,000, within 5 days of the document provided to seller, than seller will go to Branch Office in Russia Federation & match the Escrow amount that has been established/opened by the buyer, also, seller will provide a FULL POP at the SELLER’S ESCROW Bank,

3) That upon Buyer receiving Full POP, within the 72 banking hours for confirmation of validation of the Full Pop, Buyer will open their financial instrument (via. MT103 and IRDLC) for the amount of one Month of the product.

4) That as agreed between buyer & seller the shipment of product commences.

 

BUYER SIGNATURE                                                                         SELLER SIGNATURE 

 

 

 

 

 

 

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U.S. Supreme Court "Free Speech":
http://www.supremecourt.gov/search.aspx?search=Free%20Speech&type=Site Also see U.S. Federal Courts "What Does Free Speech Mean?" http://www.uscourts.gov/EducationalResources/ClassroomActivities/FirstAmendment/WhatDoesFreeSpeechMean.aspx Also Wikipedia "Freedom of Speech": http://en.wikipedia.org/wiki/Free_speech Also, "UNIVERSAL DECLARATION OF HUMAN RIGHTS" http://www.un.org/en/documents/udhr/index.shtml
Also laws indicated at Wikipedia: "International Law"
http://en.wikipedia.org/wiki/International_law
Also, All Applicable U.S. Constitutional Amendments & The Bill of Rights see
http://www.archives.gov/exhibits/charters/bill_of_rights_transcript.html

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