Plainview International Education Group

Plainview (Beijing) International Education Technology Co. Ltd

Plainview (Beijing) International Education Technology Co. Ltd Funding Procedures

Step 1: Client submits Client Information Sheet (CIS) + Brief Proposal of its civil and social trade/welfare project(s). Client also provides Letter of Intent (LOI) from its bank and must confirmed or Pre-advised via any top 25 bank to state the Bank Guarantee (BG)/Standby Letter of Credit (SBLC) for the security of funds and project performance in the favor of Plainview (Beijing) International Education Technology Co. Ltd

Step 2: Plainview (Beijing) International Education Technology Co. Ltd carries Due Diligence (DD), involving either an investigation of a business or person prior to signing a contract, or an act with a certain standard of care (the degree of prudence and caution required of an individual who is under a duty of care).

Step 3: If the client successfully advances through the above two initial steps and work in accordance with the below nine basic rules (Project Limits), Plainview (Beijing) International Education Technology Co. Ltd

Step 4: Plainview (Beijing) International Education Technology Co. Ltd issues Draft Contract in 7-10 working days open for amendments and logical opinions of the client.

Step 5: After full review and satisfaction of the client, 4 original copies will be printed and signed between client and Plainview (Beijing) International Education Technology Co. Ltd. And Plainview (Beijing) International Education Technology Co. Ltd will be responsible to provide full CORPORAT INFORMATION SHET (CIS) and Proof of Funds (POF) to the applicant bank from beneficiary bank via authenticated swift message.

 Step 6: After satisfaction of the client and applicant’s bank, the applicant will responsible to reply with BG/SBLC according to ICC and accepted format via swift MT-760 to beneficiary bank in the favor of Plainview (Beijing) International Education Technology Co. Ltd             

Step 7: After the applicant bank issues the BG/SBLC, the funds will be awarded to the client in accordance with the agreed payment schedule in the final contract signed in step 5.

Step 8: The first payment will be made in 30 to 40 working days, and the rest of the payments will be made on 25th of each calendar month.

IMPORTANT NOTES

Note 1: After normal completion of the project the principal BG/SBLC will also be reimbursed to the client without any interest.

Note 2: The client will be responsible to renew the BG/SBLC until the completion of the project.

Note 3: The client is not allowed to use low quality material in the project, the project work will under full monitoring of the project management team of Plainview (Beijing) International Education Technology Co. Ltd.