Scribd
Upload
153 views

Memorandum of Understanding

This Memorandum of Understanding is between Scrap Metal LLC, a Ukrainian trading company, and Al Ameen For Trading and Industrial Investments LLC, a company based in Dubai. Scrap Metal wants to expand its banking facilities to facilitate more business opportunities. Al Ameen will provide banking facilities through its UAE banks to create a platform for Scrap Metal's banking transactions with other countries. Al Ameen will only be involved in transactions using standby letters of credit, deferred letters of credit, and letters of credit. It will not handle direct bank transfers. Al Ameen will add a Scrap Metal director as a signatory on the account providing Scrap Metal's banking facilities for transactions requiring standby

Uploaded by

natasha cattery
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
153 views

Memorandum of Understanding

This Memorandum of Understanding is between Scrap Metal LLC, a Ukrainian trading company, and Al Ameen For Trading and Industrial Investments LLC, a company based in Dubai. Scrap Metal wants to expand its banking facilities to facilitate more business opportunities. Al Ameen will provide banking facilities through its UAE banks to create a platform for Scrap Metal's banking transactions with other countries. Al Ameen will only be involved in transactions using standby letters of credit, deferred letters of credit, and letters of credit. It will not handle direct bank transfers. Al Ameen will add a Scrap Metal director as a signatory on the account providing Scrap Metal's banking facilities for transactions requiring standby

Uploaded by

natasha cattery
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Memorandum of Understanding

SCRAP METAL LLC

AND

AL AMEEN FOR TRADING AND INDUSTRIAL INVESTMENTS LLC

This Memorandum of Understanding (hereinafter referred to as “MOU”) is made


on the 5th Day of April 2020 between the following parties:

SCRAP METAL LLC, a limited liability company established under the laws of
Ukraine with its registered office at 87506. Donetsk Oblast, Ukraine (hereinafter
referred to as the “First Party”) and;

AL AMEEN FOR TRADING AND INDUSTRIAL INVESTMENTS LLC


having its registered office at office No 2405 King Salman Bin Abdulaziz Street , Al
Sufouh-2, Al Khail, Dubai ,United Arab Emirates (hereinafter referred to as the
“Second Party”)

The First Party and the Second Party are jointly hereinafter referred to as the
“Parties”.

Whereas, the First Party is a Ukrainian based trading company and Focus wishes to
expand its banking facilities and banking instruments by way of SBLC, DLC AND LC to
facilitates more business opportunities and serve their clients in all possible manner.

Whereas the Second Party shall co-operate with the first party through it banking
facilities in creating a banking gateway for the first party to help facilitate their future
business ventures and expansion plans
PURPOSE

The purpose and function of the MOU is to facilitate the first party banking facilities
available outside its country of origin for the sole purpose of smooth banking transactions
with the rest of the world.

The second party shall be responsible through its banking facilities in UAE to create
this platform for smooth banking transactions between the first party and its potential
business clients.

Whereas the first party shall introduce the second party with its potential business clients only
when the payments’ structure requires the use of SBLC, DLC & LC.

Further Stated, the second party shall not be involved in any transactions involving Bank
Transfers by way of TT / SWIFT / WIRE TRANSFERS directly into the first party
banking system in Ukraine.

Further stated, the second party shall introduce one director from the first party as a
mandate holder in the business account which provide banking facilities to the first party
when the payments structures require the use of SBLC, LC & DLC.

Al Ameen For Trading and Industrial Investments llc Scrap Metal LLC
Sign Sign

You might also like