The seller should be open an 2 non operative PBG before what does PBG stand for in this sentence?

pgb=guarantees issued by prime banks.

the seller should be open an 2% non-operative pbg before ..This phrase means "in." Previously, the seller should open its 2% non-operating bank guarantee.

pbg(proformance bank guarantee)

Bank's"pbg"The content of the counter-guarantee is roughly to ensure that the goods will not change and be shipped on time for a period of time.

c) Moisture If the loss of free moisture is at 105 degrees Celsius in accordance with the final determination sought**Clause 9 exceeds the maximum value of the guarantee mentioned in Clause 3, the seller will pay the buyer a penalty of 8% for the moisture applicable to the actual goods in full. Item 7 Payment The buyer will open within 5 business days upon signing the contract, a transferable, immutable and proven non-operative letter of credit with First Class International Bank of China through the HSBC Banking Corporation in favor of the seller for the amount in USD sufficient to cover 100% (one hundred) of the shipment value. Within five (5) business days of accepting a non-operative lc, the seller will provide a 2% guarantee for the performance of the contract (p b) and 100% of the value of the value in favour of the buyer through a mutually accepted banking channel as a guarantee of delivery.

l c will then become valid in the performance of the contract guarantor's offer. After the execution of the contract, the page will become deactivated and voided, and will be returned to the seller within 15 days of opening an account. a) Provisional payment The aforesaid l c is specified to be affordable by the opening bank against the seller's view of the draft for an amount of 98 per cent (ninety-hundredth-eight) of the shipping value accompanied by the documents in entry 7.

The weight certificate is issued by the certification agency by the ship's draft survey with laboratory proof together with the sample and the percentage of free moisture loss at 105 degrees Celsius is issued by the certification agency which will be the basis for the seller's provisional invoice. Attestation Agency: It is preferred by the buyer to use the CCIC as a proof agency for weight proof and analysis, if the CCIC is unable to obtain an attendance inspection at the time of loading at the port of loading, the seller is then approved to Carryout for analysis and weight proof by SGS India or SK Mitra India, at the seller's expense, which will be the basis for the seller provisional invoice b) final payment The balance due to the seller in the provisional payment will be paid by the provisional payment against the seller's final invoice after the replica is delivered directly to the buyer.

This invoice will be issued within 45 days from the completion date of release at the port of release according to CIQ certificate as provided in entries 8 and 9. If the judge analysis is required, a payment adjustment appears from which this will make proof as the judge is available. If the analysis is not performed at the discharge port shore within 45 days from the completion date of the release, the loading port results will be formed as the basis for the final invoice.

The LC shall include the following terms and conditions: i) l c will take into account 10% more or less in value and quantity. ii) The document is presented within 15 days from the date of b l.

v) l c will merge the following: - Transshipment is not allowed - Partial shipment is permitted.

8.The buyer issues an informal (prior to the official version) bank guarantee and sends it to the seller's bank upon the seller's request with proof equivalent to 100% of the accounts payable. The seller will issue a performance bond of 2% of the total contract amount to the buyer's bank to activate the standby letter of credit.

9.The seller specifies the vessel and the stevedoring plan, and submits the estimated time of arrival to the buyer.

10.The seller issues an invitation letter and asks the buyer's legal representative to send a visit to the seller's headquarters in Moscow for a site visit and exchange of the final written contract.

14.Means of payment: negotiable (financial in parentheses here should refer to actual payment in currency).

1.The terms of this contract can be reversed, the benefits of the contract cannot be passed on, and the supply process can be recycled (i.e. the content related to the supply will be repeated in each delivery process).

2.The terms of payment are confirmed by default and cannot be changed (unless all parties involved in the contract change them uniformly), and the monthly payment is made on the same day by MT 103 23 high-speed wire transfer.

8。The buyer establishes a non-surgical BG 100% payment in favor of the seller's bank and the seller's spot (owner) issue 2% performance guarantee to the buyer's bank to initiate the standby letter of credit.

9。The seller (owner) appoints the vessel, loads and gives it to the ETA buyer.

10。Letter of invitation from the seller (owner) to the buyer, enabling the buyer's legal representative to come to Moscow, the Russian Federation to inspect the configuration, logo and exchange of the contract in hard copy at the seller's office in Moscow, the Russian Federation.

14。Payment (Financial) Instruments: Negotiable.

1。Revocable, non-negotiable, revolving documentary credits.

2。Revocable letter of credit, confirmation, SWIFT wire transfer by machine translation 103 23 value of goods total monthly shipment value.

Popular documents held in the seller's bank.

We are the official management of the company.

and undertaking to share liability with the buyer who purchases the following products on certain terms and conditions and has authoritative instructions.

As follows: Quantity: 2,400,000 metric tons every 13 months.

Specifications: Enclosed as a letter.

Duration: May be extended within 12 months.

Target: Fixed net weight USD 300 per MT and gross weight USD 310 per ton.

Payment method: 200000MT is irrevocable, transfer invoices will not be accepted.

A single letter of credit pays 100 in sight.

Port of loading: Black Sea or Baltic Sea.

Packing: Bulk by ship.

Performance Bond: 2 Lead CIF **.

The focus of the inspection: the cost of the seller by passing the SGS for quantity and quality at the port of loading.

Special conditions"1 。For the first month delivery of 50,000MT for 12 months, for the second time, for the additional monthly delivery of 150,000MT for 12 months.

2 。The seller should provide the following documents;

Payable for licensed exports of energy by the Ministry of Internal Affairs of the Russian Federation;

Payable for approval of export by the Ministry of Justice of the Russian Federation;

Payable claims available products.

Procedure: 1 The buyer sends INTERPOL to the seller, and INTERPOL requires the buyer's letterhead and sufficient bank information.

2 The seller's questions are fully provided by the enterprise (cartel bureau) and signed by the buyer and returned, draft.

The contract is sent to the buyer by email.

3 The buyer and seller sign the final contract and send out by scanning email.

4 The buyer's bank issues a letter of credit in the BCL or prior consultation with the seller's bank MT799 promptly.

5 Seller shall, no later than five (5) days after receiving MT799 from the international banking industry, the Bank will issue a non-surgical two percent of the PBG and pop it up promptly by the Bank.

6 The Buyer shall, within five (5) days after receiving the Non-Surgical 2 Lead and Pop** from the International Banking Sector, issue an executed Letter of Credit (LC) to the Seller.

Bank. 7 The Executive Council will automatically receive non-surgical lead.

with the bank that is popular from the seller.

8 The seller nominates the vessel, loads, and gives ETA to the buyer.

9 Delivered on a per contract basis.