1. Seller sends SPA with copy of his intâ€™l passport and company profile. Buyer signs SPA and returns it in PDF format and NOR Format. The signed contract is binding and legally enforceable. Both parties lodge same copy with their respective banks.
2. Sellerâ€™s bank issues a Block Fund (via MT799) worth US$1,000,000 (One Million US Dollars) in favour of buyer as indemnity (copy shall be sent to buyer via email for confirmation).
Note: Seller's bank will contact buyer'sbank and confirm their readiness to Block Fund $1m upon receipt of seller's $1m BF indemnity. Upon confirmation from Buyer's bank, Seller then blocks fund of $1m indemnity
3. On confirmation of sellerâ€™s indemnity, buyer instructs his bank to swift a Block Fund (via MT799) worth US$1,000,000.00 (One Million US Dollars) to sellerâ€™s bank in favour of seller, and copy is sent to seller as well.
4.Upon confirmation of buyerâ€™s MT799 Block Fund, Sellr within 48 hours issues MNOR/ETA to Ghana
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