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shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
Post
by shahriar » Thu Feb 19, 2009 12:40 pm
dear friends,
i need your help to understand a letter of intent. i received a letter from a german bank, titled letter of intent and shows the following
we are please to inform that subject to fulfillment of the terms and conditions of the above mentioned contract and the underlying loan agreement we are in principle prepared to pay to you an amount of 25% of the contract price against delivery of xxxxx to xxxx
what kind of guarantee is this? i need to verify the message as well. what kind of swift message should i use?
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iLC
- Posts: 504
- Joined: Thu Jun 26, 2008 10:33 pm
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by iLC » Sat Feb 21, 2009 10:05 am
there is no reason for a bank to issue a letter of intent. an LOI should be always from a the buyer. please counter check
