DIRECTIONS TO PAYMASTER
Invoice No: XXXXXXXXXX
Buyer:
Seller:
Andy Treusch, Esq. is hereby appointed the paymaster for all funds to be received and distributed pursuant to the Pro Forma Invoice, number XXXXXXXXXX, dated XXXX XX, XXXX, hereby referred to as “The Agreement” and attached as Exhibit “A”.
Instructions
The following instructions are directed to XXXX XXXXXXX, Esq. of the Law Offices of XXXX XXXXXXXX, acting as paymaster on The Agreement. The paymaster is hereby directed as follows:
Receiving Funds
1. At designated times the paymaster shall accept from the buyer a wire transfer of funds into the paymaster’s Attorney Trust Account. 2. The account designated to receive the funds is; Bank: XXXXXXXXXXX Account Holder: XXXXXXXXXXXXXXXXXXXXXXXXXX Account No: XXXXXXXXXXXXXXXXX Routing No: XXXXXXXXXX SWIFT NO: XXXXXXXXX 3. Immediately upon receipt of funds the paymaster shall inform the seller in writing through fax or email that the funds have been received, the amount received and whether or not they have cleared. 4. All wire expenses incurred at Wachovia to complete these transactions are for the account of the seller.
Distributing Funds
5. Paymaster shall issue to Seller payment against documents enumerated in The Agreement. Faxed or emailed copies of the original documents shall suffice as receipt of documents for purposes of distribution of the funds to seller. 6. Each payment shall be in the amount and calculated as follows; the weight listed on the bill of lading multiplied by the contracted price per metric ton. 7. Transfer of the funds shall be made by wire into Seller’s designated bank account. The transfer shall occur as soon as possible upon receipt of the enumerated documents.
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DIRECTIONS TO PAYMASTER
8. Paymaster will forward all documents received to the buyer through fax or email as soon as practicable after receipt. 9. The seller’s account designated to receive the funds is; Bank: XXXXXXXXX XXXX Address: XXXXXXXXXXXXXXXXXX Account Holder: XXXXXXXXXXXXXXXX Account No: XXXXXXXXXXX Routing No: XXXXXXXXXXX 10. All wire expenses incurred to complete these transactions are for the account of the seller.
Return of Funds to Buyer
11. In the event Seller fails to deliver the contracted materials to the loading port within a reasonable time determined by the parties in writing but not to exceed 72 hours after (agreed upon date), the Paymaster shall return any monies to buyer deposited on account minus wire expenses. 12. All wire expenses incurred from XXXXXXXXXXXX to return the funds in this transaction are for the account of the seller.
Construction
13. For purposes of this document, facsimile signatures will suffice in the place of original signatures and will bind the parties to this document in the same manner as if the document contained original signatures.
Buyer Signature: Name: XXXXXXXXXXXX Position: XXXXXXXXXXXXX Date: Witness: Date:
Seller Signature: Name: XXXXXXXXXXX Position: XXXXXXXXXXXXXX Date: Witness: Date:
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