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COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT, 영문계약서, 수출 신용 계약서 본문
COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT, 영문계약서, 수출 신용 계약서
bangla 2017. 12. 11. 16:10COMPREHENSIVE INTERBANK
EXPORT CREDIT AGREEMENT
Between
[Name of the Borrower]
as Borrower
and
THE EXPORT-IMPORT BANK OF KOREA
as Lender
dated as of [•] , 20[•]
TABLE OF CONTENTS
Page
Article 1- DEFINITIONS ····································································· 1
Article 2- AMOUNT AND TERMINATION ··············································· 3
Article 3- RELENDING FACILITY ························································· 4
Article 4- REFINANCING FACILITY ······················································ 7
Article 5- L/C CONFIRMATION FACILITY ·············································· 9
Article 6- GUARANTEE FACILITY ······················································· 10
Article 7- OVERDUE INTEREST ·························································· 11
Article 8- PAYMENT ········································································· 12
Article 9- REPRESENTATIONS AND WARRANTIES ································· 13
Article 10- LAW AND JURISDICTION ··················································· 13
Article 11- REPORTS ········································································· 14
Article 12- AMENDMENT ··································································· 14
Article 13- ASSIGNMENT ··································································· 15
Article 14- WAIVER OF IMMUNITY ······················································ 15
Article 15- TERMINATION ·································································· 15
Article 16- COMMUNICATION ···························································· 15
Annex 1 RELENDING/ REFINANCING / L/C CONFIRMATION / GUARANTEE APPLICATION ················································································· 17
Annex 2 RELENDING/ REFINANCING / L/C CONFIRMATION / GUARANTEE APPROVAL[/DISAPPROVAL] ····························································· 20
Annex 3 REQUEST FOR DISBURSEMENT ············································· 22
COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT
THIS COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT (this “AGREEMENT”) is made and entered into as of [•] day of [•] 20[•], by and between the Export-Import Bank of Korea (“KEXIM”), a financial institution duly organized and existing under the Export-Import Bank of Korea Act of the Republic of Korea with its registered head office at 16-1 Yoido-dong, Youngdungpo-gu, Seoul, the Republic of Korea and [•] [Name of the BANK] (the “BANK”), a bank duly organized and existing under the laws of [Name of the Country] with its registered head office at [•].
WHEREAS,
KEXIM has offered to the BANK to provide a line of credit for: (i) interbank export credit purposes for the BANK to finance the Purchasers’(as defined below) purchasing Eligible Items (as defined below) with the financing period of 6 months or longer but less than Twenty-four (24) months (the “Interbank Export Loan Facility”); (ii) refinancing purpose for the Bank to finance the Purchasers’ purchasing Eligible Items with the financing period of less than 6 months (the “Refinancing Facility”) (iii) letter of credit confirmation purposes for KEXIM’s confirming certain documentary letter of credit issues by the BANK for facilitating the Eligible Transaction (the “L/C Confirmation Facility”) and (iv) guaranteeing purposes for KEXIM’s guarantee cover of the BANK’s liability under certain letter of credit or letter of guarantee (including the BANK’s guarantee on certain promissory note issued by the Purchaser) issued by the Bank for the Eligible Transaction (the “Guarantee Facility”), in accordance with the terms and conditions of this AGREEMENT; and
the BANK has accepted such offer.
NOW, THEREFORE, KEXIM and the BANK agree as follows:
Article 1- DEFINITIONS
“Availability Period” means the period commencing on the date hereof and terminating on the earlier of (i) [•] [Twenty-four(24) months from the date hereof] or such later date as may be agreed upon between KEXIM and the BANK and (ii) the date on which the Line of Credit is cancelled or terminated in accordance with the terms and conditions of this AGREEMENT.
“Banking Day” means a day on which banks are open for business in New York, Seoul and [•].
“Disbursement” means each disbursement of the Interbank Export Loan Facility and Refinancing Facility made in accordance with Article 3 and Article 4 of this AGREEMENT or the principal amount of such disbursement, as the context may require.
“Eligible Items” means the Goods including related services which are of Korean origin or manufacture purchasd by the Purchaser from the Korean Exporter and all or part of the payment for which are financed by the Line of Credit.
“Eligible Transaction” means a transaction of the Eligible Items whose tenor of price terms shall not exceed [•] years.
“Euro” means the lawful currency of the Eurocurrency zone countries.
“Facility” means each or all of the Interbank Export Loan Facility, Refinancing Facility, L/C Confirmation Facility and/or Guarantee Facility in accordance with the terms and conditions of this AGREEMENT
“Korea” means the Republic of Korea.
“Korean Exporter” means an individual, juridical entity, or such other entity acceptable by KEXIM residing and carrying business in Korea, which sell Eligible Items to the Purchaser.
“L/C” means an irrevocable documentary letter of credit issued by the BANK which letter of credit shall: (i) be issued at the request and for the account of a Purchaser in favor of a Korean Exporter; (ii) be denominated in U.S. Dollars or Euro; (iii) expire not later than [•] days after its issuance and (iv) be subject to Uniform Customs and Practice for Documentary Credits (Revision 1993) ICC Publication 500 or such later revision as may be adopted by the ICC from time to time (“UCP”).
“Line of Credit “ means the facility to be made available in favor of the BANK under this AGREEMENT in the form of Interbank Export Loan Facility, Refinancing Facility, L/C Confirmation Facility and/or Guarantee Facility.
“LIBOR” means the rate displayed on the “3750” page, or such other page for the purpose of displaying such rate of interest, of the Telerate Matrix by the British Bankers Association as the applicable percentage rate of interest per annum offered by principal banks in the London inter-bank market for deposits in relevant currency at or about 11:00 a.m. London Time two (2) London Business Days prior to the beginning of relevant Interest Period specified in Article 3.3 and Article 4.4 hereof.
“Purchaser” means a buyer who purchases the Eligible Items from the Korean Exporter.
“SWAP Rate” means the fixed interest rate with such name determined, promulgated and applied by KEXIM from time to time.
“U.S. Dollars” or “US$” means the lawful currency of the United States of America.
Article 2- AMOUNT AND TERMINATION
2.1 KEXIM hereby establishes the Line of Credit in the aggregate maximum amount of [•] U.S Dollars (US$ [•]) in favor of the BANK. The BANK may utilize the Line of Credit in the form of Interbank Export Loan Facility, Refinancing Facility, L/C Confirmation Facility and/or Guarantee Facility in accordance with the terms and conditions of this AGREEMENT.
2.2 The Line of Credit shall be a revolving one. The BANK may utilize and/or re-utilize the Line of Credit up to the maximum amount specified in Article 2.1 unless the aggregate of i) the outstanding principal amount under the Export Credit Facility and Refinancing Facility extended by KEXIM in accordance with Articles 3 and 4 respectively, ii) the un-cleared outstanding amount of L/C confirmed by KEXIM in accordance with Article 5 and iii) the outstanding guarantee amount of the securities guaranteed by KEXIM in accordance with Article 6 exceeds such maximum amount.
2.3 The Line of Credit shall be utilized only during the Availability Period. No application for utilizing the Line of Credit shall be made by the Bank and approved by KEXIM after the expiry of the Availability Period, unless KEXIM consents in writing to extend the Availability Period.
Article 3- INTERBANK EXPORT LOAN FACILITY
3.1. Utilization Procedure
3.1.1 To utilize the Interbank Export Loan Facility, the BANK shall submit to KEXIM a duly completed and executed application in the form of Annex 1 attached hereto (the “Application”). Within [•] Banking Days from the date of receipt of the Application, KEXIM shall determine whether it approves or disapproves the Application at its sole discretion and notify the BANK of its approval or disapproval in the form of Annex 2 attached hereto (the “Notice of Approval/Disapproval”).
3.1.2 Upon KEXIM's Notice of Approval, the Interbank Export Loan Facility shall be established and the BANK may make Disbursement from the Interbank Export Loan Facility in the following letter of credit, direct payment, and/or reimbursement procedures within 12 months from the date of the Approval unless KEXIM consents in writing to extend such period beyond 12 months.
3.1.3 Letter of Credit Procedure. (a) An at sight L/C shall be opened by the BANK in favor of the Korean Exporter, and shall be advised through KEXIM. The negotiation under the L/C shall be restricted to KEXIM. Each L/C shall be issued in the form and substance acceptable to KEXIM and shall bear the following clause:
“This letter of credit is to be financed in accordance with the AGREEMENT dated [•] between KEXIM and our BANK. We agree to reimburse, on the due date, all amounts in principal and the accrued interest of the Disbursement made for the payment of the conforming documents value under this letter of credit as per the terms and conditions of the AGREEMENT.”
(b) Upon presentation of the documents conforming with the L/C, KEXIM shall pay the value of such documents to the beneficiary as the Disbursement under this AGREEMENT and immediately notify the BANK of its payment through authenticated SWIFT or tested telex with the following details:
(i) L/C number;
(ii) Date of payment;
(iii) Amount paid to the beneficiary;
(iv) Maturity date; and
(v) Applicable interest rate.
(c) Such notice given as per paragraph (b) shall, in the absence of any manifest error, be conclusive evidence and binding on the BANK as to the date and amount of the Disbursement.
3.1.4 Direct Payment Procedure. (a) The BANK may request KEXIM to pay directly to the Korean Exporter the amount of any Disbursement under the Eligible Transaction by submitting to KEXIM the Request for Disbursement substantially in the form of Annex 3 attached hereto. The Request for Disbursement under this procedure shall be delivered to KEXIM by authenticated SWIFT or by tested telex within [•] days after the Korean Exporter dispatches relevant shipping documents or Korean Exporter's claim to the BANK.
(b) Within [•] Banking Days after the receipt by KEXIM of the Request for Disbursement, KEXIM shall pay the requested amount directly to the Korean Exporter and such payment shall constitute a Disbursement hereunder as of the date of such payment.
3.1.5 Reimbursement Procedure. (a) The BANK may request KEXIM to reimburse the BANK the amount of any payment made by the BANK to the Korean Exporter for the Eligible Transaction by submitting the Request for Disbursement substantially in the form of Annex 3 attached hereto. The Request for Disbursement under this procedure shall be delivered to KEXIM by authenticated SWIFT or by tested telex within [•] days after the BANK or the Purchaser has paid Korean Exporter all or any portion of the contract price of the Eligible Transactions.
(b) Within [•] Banking Days after the receipt by KEXIM of the Request for Disbursement, KEXIM shall reimburse the requested amount by making payment to the account of the BANK with a bank designated by the BANK, which payment shall constitute a Disbursement hereunder as of the date of such payment.
3.1.6 Notice of Disbursement. Upon each Disbursement made in accordance with Article 3.1.4 and 3.1.5, KEXIM shall notify the BANK in writing of the date and amount of such Disbursement. Such notice shall, in the absence of any manifest error, be conclusive evidence and binding on the BANK as to the date and amount of the Disbursement of the Interbank Export Loan Facility concerned.
3.2 Transaction of goods and/or services which are not Korean origin or manufacture may be financed under prior written consent of KEXIM.
3.3 Financing Period and Interest Period
3.3.1 The financing period for each Disbursement (the “Financing Period”) shall (i) be six (6) months or longer but (ii) less than [•] months from the date of the Disbursement.
3.3.2 The interest periods for each Disbursement (the “Interest Period”) shall be the period commencing on the date of relevant Disbursement and ending on the date [•] months thereafter and, from then on, each of the six-month periods shall commence on the last day of the immediately preceding Interest Period. The last Interest Period shall end on the last day of the Financing Period.
3.4 Interest
3.4.1 The BANK shall pay to KEXIM interest on the amount of each Disbursement then outstanding in arrears on the last date of each Interest Period.
3.4.2 As to the interest rate applicable to each Disbursement (the “Interest Rate”), the BANK shall have the right to request to apply the SWAP Rate plus margin or six (6) months LIBOR plus margin as follows:
(i) the BANK shall specify in the Application its request of SWAP Rate or LIBOR as the applicable Interest Rate to be applied to the Disbursement;
(ii) where the SWAP Rate is requested as the applicable Interest Rate, it shall be the SWAP Rate applicable by KEXIM as of the date of KEXIM’s receipt of the BANK’s Application;
(iii) the applicable margin added to the applicable SWAP Rate or LIBOR shall be determined by KEXIM and shall remain unchanged for the entire Financing Period; and
(iv) immediately after the applicable SWAP Rate or LIBOR and the applicable margin is determined, KEXIM shall, by specifying them in the Approval, notify them to the BANK.
3.4.3 The interest shall accrue from and including the respective dates on which each Disbursement is made to but excluding the last day of then current Interest Period. The interest shall be computed on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days.
3.5 Repayment
Article 4- REFINANCING FACILITY
4.1 Conditions
To utilize the Refinancing Facility under this AGREEMENT, subject to other applicable terms and conditions herein, the following terms and conditions shall be met:
(i) Type of L/C for KEXIM’s refinancing : irrevocable at sight letter of credit issued by the BANK;
(ii) Financing Period : less than [•] months but not including [•] months.
(iii) Amount of each L/C: more than US$ [•] but not exceeding US$ [•].
4.2. Utilization Procedure
4.2.1 To utilize the Refinancing Facility, the BANK shall submit to KEXIM a duly completed and executed application in the form of Annex 1 attached hereto (the “Application”). Within [•] Banking Days from the date of receipt of the Application, KEXIM shall determine whether it approves or disapproves the Application at its sole discretion and notify the BANK of its approval or disapproval in the form of Annex 2 attached hereto (the “Notice of Approval/Disapproval”).
4.2.2 Upon KEXIM's Notice of Approval, the BANK may make Disbursement as per the letter of credit procedure as stipulated at Article 3.1.3.
4.3 Notice of Disbursement. (a) Upon each Disbursement made hereunder, KEXIM shall notify the BANK of its payment through authenticated SWIFT or tested telex with following details:
(i) L/C number;
(ii) Date of payment;
(iii) Amount paid;
(iv) Maturity date; and
(v) Applicable interest rate.
(vi) Interest amount payable at maturity; and
(vii) Total amount payable at maturity
(b) Such notice shall, in the absence of any manifest error, be conclusive evidence and binding on the BANK as to the date and amount of the Disbursement of the Refinancing concerned.
4.4 Financing Period and Interest Period
The Financing period for each Disbursement (the “Financing Period”) shall be less than [•] months from the date of such Disbursement. The interest periods for each Disbursement (the “Interest Period”) shall be the period commencing on the date of relevant Disbursement and ending on the last day of the Financing Period.
4.5 Interest Rate
(a) Interest rate applicable to each Disbursement (the “Interest Rate”), shall be LIBOR displayed for the period same as or the nearest to the Refinancing Period plus margin, and the applicable margin added to LIBOR shall be determined by KEXIM and shall remain unchanged for the entire Financing Period; and
(b) The interest shall accrue from and including the respective dates on which each Disbursement, and the interest shall be computed on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days.
4.6 – Interest and Repayment
The BANK shall repay KEXIM for the principal amount of each Disbursement on the last day of the Financing Period with the accrued interest according to Article 4.5.
Article 5- L/C CONFIRMATION FACILITY
5.1. Conditions
To utilize the L/C Confirmation Facility under this AGREEMENT, subject to other applicable terms and conditions herein, the following terms and conditions shall be met:
(i) Type of letter of credit: an irrevocable and freely negotiable one issued by the BANK; and
(ii) Amount of letter of credit: more than US$ [•] but not exceeding US$ [•]
5.2. Utilization Procedure
5.2.1 The BANK shall submit to KEXIM a duly completed and executed Application for L/C Confirmation in the form of Annex 1 attached hereto. The BANK shall specify in the Application the one who will pay the confirmation fee to KEXIM. Within [•] Banking Days from the date of receipt of the Application, KEXIM shall determine whether it approves or disapproves the Application at its sole discretion and notify the BANK of its approval or disapproval in the form of Annex 2 attached hereto.
5.2.2 In case KEXIM has approved the Application, when KEXIM receives the relevant L/C, it shall add its confirmation in the L/C and notify it to the beneficiary.
5.2.3 The BANK shall inform KEXIM whether it takes up or refuses draft and the documents specified in the relevant L/C without delay but no later than the close of the [•]th Banking Day following the day of receipt of the documents.
5.3. Fees
Whenever the L/C Confirmation Facility is utilized, the letter of credit confirmation fee shall be payable by the beneficiary under the relevant L/C, in principle. In case it is agreed that the BANK shall bear the letter of credit confirmation fee, the BANK shall pay the letter of credit confirmation fee within [•] days from KEXIM’s confirmation of the relevant L/C, provided that the rate and calculation method of the fee shall be agreed in writing between the BANK and KEXIM prior to each utilization of the L/C Confirmation Facility.
5.4. Claims
In case KEXIM makes payments for the claim under the L/C, the BANK shall reimburse to KEXIM (i) any amount disbursed by KEXIM to the beneficiary of the L/C directly or indirectly through its commercial bank and (ii) fees payable hereunder by the BANK.
Article 6- GUARANTEE FACILITY
6.1. Conditions
To utilize the Guarantee Facility under this AGREEMENT, subject to other applicable terms and conditions herein, the following terms and conditions shall be met:
(i) Type of securities for KEXIM guarantee: letter of credit or letter of guarantee (including the BANK’s guarantee on certain promissory note issued by the Purchaser) issued by the Bank for the Eligible Transaction
(ii) Tenor of securities : less than [•] years;
(iii) Amount of each securities: more than US$ [•] but not exceeding US$ [•]; and
(iv) Amount of each guarantee: Up to [•] percent ( [•] %) of the face value of the securities
6.2. Utilization Procedure
6.2.1 The BANK or, as the case may be, a Korean commercial bank may request the issuance of a guarantee by submitting to KEXIM of a duly completed and executed Application for the Guarantee Facility in the form of Annex 1 attached hereto.
6.2.2 In the event that the Application is submitted to KEXIM by a Korean commercial bank, KEXIM shall request the BANK to advise whether the BANK consents to the issuance of KEXIM guarantee under the Guarantee Facility. Where the BANK consents to KEXIM’s issuance of such Guarantee under the Guarantee Facility, KEXIM shall proceed to review such Application.
6.2.3 The approval for guarantee shall be at the sole discretion of KEXIM. Within [•] Banking Days from the date of receipt of the Application, KEXIM shall notify the BANK of its approval or disapproval in the form of Annex 2 attached hereto.
6.2.4 Promptly upon the issuance of the guarantee, KEXIM shall send a certified copy of the issued guarantee to the BANK by airmail or telefax transmission.
6.3. Fees
A guarantee fee shall be payable by a Korean commercial bank as a beneficiary, in principle. In case it is agreed that the BANK shall bear the guarantee fee, the BANK shall pay the guarantee fee within [•] days of the issuance of KEXIM guarantee, provided that the rate and calculation method of the fee shall be agreed in writing between the BANK and KEXIM prior to each utilization of Guarantee Facility.
6.4. Claims
In case KEXIM receives a notice of unpaid claim duly delivered by a Korean commercial bank or otherwise, KEXIM shall disburse and pay to the relevant Korean commercial bank the amount stated in the notice subject to the terms and conditions of the relevant guarantee.
Article 7- OVERDUE INTEREST
7.1. In the event of any payment and/or repayment of principal, reimbursable amount, interest, fee, or other amount to be made by the BANK to KEXIM under this AGREEMENT is made later than it is due (whether at its stated maturity, by acceleration, or otherwise), the BANK shall pay interest (the “Overdue Interest”) on the amount due and unpaid for the delayed period at the rate of:
(i) [•] percent ( [•] %) per annum above the relevant Interest Rate applicable in accordance with Article 3.4 or Article 4.6 in case of Interbank Export Loan Facility or Refinancing Facility, respectively; and
(ii) [•] month LIBOR plus [•] percent ( [•] %) per annum in case of L/C Confirmation or Guarantee Facility.
7.2. Such Overdue Interest shall be computed on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days.
Article 8- PAYMENT
8.1 Place of Payment.
All repayments and/or payments to be made by the BANK under this AGREEMENT shall be made in immediately available and freely transferable funds to the account of KEXIM with the [Name and Address of the Bank], (Account No. [•]) for US$, or with [Name and Address of the Bank] (Account No. [•]) for Euro, or to such other account as KEXIM may designate to the BANK in prior written notice from time to time.
8.2 Grossing-up of Payment.
8.2.1 If the BANK or any other person is required by any law or regulation to make any deduction or withholding (on account of tax or otherwise) from any payment under this AGREEMENT, the BANK shall, together with such payment, pay such additional amount as will ensure that KEXIM receives the full amount which it would have received if no such deduction or withholding had been required.
8.2.2 All sums payable by the BANK under this AGREEMENT shall be paid in full without setoff or counterclaim or any restriction or condition, and free and clear of any tax or other deductions or withholdings of any nature.
8.2. 3. In case any sum payable under this AGREEMENT is to be made on a day which is not a Banking Day, such sum shall become due on the next succeeding Banking Day and interest amount shall be adjusted accordingly.
Article 9- REPRESENTATIONS AND WARRANTIES
The BANK hereby represents and warrants to KEXIM as follows:
9.1 Status and Power
The BANK is a financial institution duly organized and validly existing the laws of [Name of the Country], and has full power and authority to incur and repay all indebtedness to be incurred by it with respect to the utilization of each Interbank Export Loan Facility, L/C Confirmation Facility or Guarantee Facility under this AGREEMENT and to perform and observe the terms and conditions hereof and thereof.
9.2 Governmental Approval
All necessary governmental approvals have been obtained for the execution, delivery and performance of this AGREEMENT and all other documents or AGREEMENTs required hereunder, and the performance and observance of the terms and conditions hereof and thereof.
Article 10- LAW AND JURISDICTION
10.1 Governing Law
This AGREEMENT shall be governed by and construed in accordance with the laws of [The State of New York, United States of America].
10.2 Jurisdiction
10.2.1 The BANK and KEXIM irrevocably agree to submit to the jurisdiction of any court of [The State of New York or any Federal court of the United States of America, sitting in the City and State of New York, the United States of America] in any action or proceeding arising out of or relating to this AGREEMENT and the BANK and KEXIM irrevocably agree that all claims in respect of such action or proceeding may be heard or determined in such court of [The State of New York or such Federal court of the United States of America]. The BANK and KEXIM agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
10.2.2 The foregoing provisions of this section shall not limit the right of the KEXIM to bring any such action or proceeding against the other party or its property in the courts of any other jurisdiction.
10.3 Process Agent
The BANK agrees to appoint [·] as its agent to receive on its behalf service of process in any action or proceeding instituted in [the State of New York] with respect to this AGREEMENT, and further agrees that, throughout the terms of this AGREEMENT and until all the BANK’s obligation under this AGREEMENT are fully discharged, it will maintain an agent in [The State of New York] for such purpose. The BANK also irrevocably consents to service of process upon it in any such action or proceeding in any manner authorized by the laws of the appropriate jurisdictions.
Article 11- REPORTS
The BANK and KEXIM agree to provide each other with a certified copy of each other's annual financial statements audited by an independent accountant or accounting firm or, if appropriate, an audited annual report, not later than one hundred and fifty (150) days after the close of each fiscal year.
Article 12- AMENDMENT
Any amendment to this AGREEMENT shall be in writing and shall be signed by duly authorized representatives of both parties hereto.
Article 13- ASSIGNMENT
The BANK shall have no right to assign or transfer any of its rights or obligations under this AGREEMENT without prior written consent of KEXIM.
Article 14- WAIVER OF IMMUNITY
The BANK irrevocably waives all immunity to which it, its properties or assets may be or become entitled on the ground of sovereignty or otherwise, from set-off, legal proceedings, attachment prior to judgment, other attachment, or execution in any action or proceeding arising out of or relating to this AGREEMENT.
Article 15 – TERMINATION
This AGREEMENT may be terminated at any time by either party upon giving a written notice to the other party thirty (30) days prior to the intended termination date. Termination of this AGREEMENT will not affect the validity or enforceability of any obligations under this AGREEMENT or any other AGREEMENT entered into by the BANK in connection with this AGREEMENT.
Article 16- COMMUNICATION
All notices and communications under or in connection with this AGREEMENT between the BANK and KEXIM. must be in writing and in the English language and could be made, except otherwise expressly stated herein, by tested telex or authenticated SWIFT to the following addresses and numbers:
To the BANK
Attention : [•], [•] Department,
Address : [•],
[Name of the Bank]
Telex : [•]
Fax : [•]
SWIFT : [•]
To KEXIM
Attention : [•], [•] Department
Address : [•]
The Export-Import Bank of Korea
Telex : [•]
Fax : [•]
SWIFT : [•]
For and on behalf of For and on behalf of
By : By :
Name : [•] Name : [•]
Title : [•] Title : [•]
<Annex 1>
INTERBANK EXPORT CREDIT / REFINANCING / L/C CONFIRMATION / GUARANTEE APPLICATION
[DATE]
TO : The Export-Import Bank of Korea
Attention : [•] Department
Gentlemen :
This Application is hereby made pursuant to the COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT of [DATE] between KEXIM and [Name of the Bank](the “AGREEMENT”). Details of the transaction are as follows:
1. Korean Exporter
N a m e : [•]
Address : [•]
Telephone : [•]
Facsimile : [•]
2. Purchaser
N a m e : [•]
Address : [•]
Telephone : [•]
Facsimile : [•]
3. Goods to be purchased from Korea : [•]
4. Contract amount : [•]
□ INTERBANK EXPORT LOAN
5. Loan Amount : [•]
6. Financing Period : [•]
7. Disbursement Method : [Letter of Credit Procedure/ Direct Payment Procedure/ Reimbursement Procedure]
8. Type of interest : [Libor/SWAP Rate]
9. Repayment type of Loan : [Lump Sum Repayment/Installment Repayment]
10. Repayment Schedule : [In case of Installment Repayment]
11. Others
□ REFINANCING
12. Refinancing Amount : [•]
13. Financing Period : [•]
14. L/C Terms and Conditions : [•]
15. Others : [•]
□ L/C CONFIRMATION
16. L/C Amount : [•]
17. L/C Terms and Conditions : [•]
18. Others : [•]
□ GUARANTEE
19. Form of the security, Ref No : [•]
20. Stated face value of the security : [•]
21. Date of issue of the security : [•]
22. Expiry date of the security : [•]
23. Amount of the security : [•]
24. Others : [•]
This Application shall be subject to the terms and conditions of the AGREEMENT.
The undersigned hereby agrees to provide KEXIM, upon the KEXIM’s request, with any document which is in the possession of the undersigned and which confirms the details of the transaction given above.
For and on behalf of
[Name of the Bank]
By_______________________
Name :
Title :
Encl : Copies of the security( in case of Guarantee)
<Annex 2>
INTERBANK EXPORT LOAN/ REFINANCING / L/C CONFIRMATION / GUARANTEE APPROVAL[/DISAPPROVAL]
[DATE]
To : [Name and Address of the Bank]
____________________________
Attention : [•], [•] Department
Gentlemen :
Reference is made to the COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT of [DATE] between yourselves and KEXIM (the “AGREEMENT").
Pursuant to the AGREEMENT, KEXIM hereby approves [disapproves] your Relending/ L/C Confirmation/ Guarantee/Refinancing Application dated [•], 20[•] under the terms and conditions of the AGREEMENT and subject to the following conditions :
□ LOAN
1. Loan Number : [•]
2. Loan Amount : [•]
3. Financing Period : [•]
4. Repayment Type of Loan : [•]
5. Interest Rate : [•] % p.a.
6. Disbursement Method : [Letter of Credit Procedure/ Direct Payment Procedure/ Reimbursement Procedure]
7. Others : [•]
□ REFINANCING
9. Eximbank Refinancing Number : [•]
10. Refinancing Amount : [•]
11. Financing Period : [•]
12. Interest Rate : [•]
13. Others : [•]
□ L/C CONFIRMATION
14. Confirmation Number : [•]
15. L/C Amount : [•]
16. Confirmation Fee : [In case the bank pay confirmation fee]
17. Others : [•]
□ GUARANTEE
18. KEXIM Guarantee Number : [•]
19. Amount of KEXIM Guarantee : [•]
20. Terms and Conditions of KEXIM Guarantee : [•]
21. Expiry Date of KEXIM Guarantee : [•]
22. Guarantee Fee : [In case the bank pay guarantee fee]
23. Others : [•]
For and on behalf of
The Export-Import Bank of Korea
By ____________________________
Name : [•]
Title : [•]
<Annex 3>
REQUEST FOR DISBURSEMENT
Date : [•]
To : The Export-Import Bank of Korea
Attn : [•],[•] Department
From : [Name of the Bank]
Re : Request For Disbursement under COMPREHENSIVE INTERBANK EXPORT CREDIT AGREEMENT of [DATE] between yourselves and KEXIM (the “AGREEMENT")
With regard to the your Interbank Export Loan Facility (Loan Number) , and pursuant to article 3 of the referenced AGREEMENT, [Name of the Bank] hereby requests that disbursement of the sum of United States Dollars [•] (US$ [•] ) be made:
to [Name of the Korean Exporter] for and on behalf of [Name of the Bank] (in case of Direct Payment procedure); or
to the account number [•] of [Name of the Bank] (in case of reimbursement procedure).
For and on behalf of
[Name of the Bank ]
Name : [•]
Title : [•]
:
1_4 Comprehensive Interbank Export Credit Agreement.doc
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