CLAUSE 17BUYER NON-PERFORMANCE PENALTY
17.1 BUYER, UPON SIGNING THIS AGREEMENT, IF HE FAILS TO PROVIDE A TRANSFERABLE BANK INSTRUMENT (MT103-23) WITHIN 1 BANKING DAY, WILL BE CONISDERED IN DEFAULT AS FAILING TO COMPLY WITH THEIR OBLIGATIONS AS PER THIS CONTRACT. THEREFORE, THE SUFFERING PARTY OR SELLER WILL HAVE THE OPTION TO DECLARE NON-PERFORMANCE AGAINST THE DEFAULTING PARTY AND RECEIVE A PENALTY OF 2% OF THE CONTRACT VALUE.
I think, he want one and only the 2 % PB penalty. He have no D2 for saleQuoting from [Phonebonn]:I copy this posting to "Verifying a company"
He send me D2 draft contract for a spot deal, but he wrote in his terms:CLAUSE 17BUYER NON-PERFORMANCE PENALTY
17.1 BUYER, UPON SIGNING THIS AGREEMENT, IF HE FAILS TO PROVIDE A TRANSFERABLE BANK INSTRUMENT (MT103-23) WITHIN 1 BANKING DAY, WILL BE CONISDERED IN DEFAULT AS FAILING TO COMPLY WITH THEIR OBLIGATIONS AS PER THIS CONTRACT. THEREFORE, THE SUFFERING PARTY OR SELLER WILL HAVE THE OPTION TO DECLARE NON-PERFORMANCE AGAINST THE DEFAULTING PARTY AND RECEIVE A PENALTY OF 2% OF THE CONTRACT VALUE.
I think, he want one and only the 2 % PB penalty. He have no D2 for sale
Quoting from [Phonebonn]:
work
444 N Northwest Hwy, Ste 20
Park Ridge, IL60068-3263