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IRREVOCABLE PAYMENT ORDER. THIS PAY ORDER CONSTITUTES A GUARANTEED,
UNCONDITIONAL AND NON‐RETRACTABLE IRREVOCABLE PAYMENT ORDER AND IS ISSUED TO
THE BENEFICIARIES MENTIONED BELOW:
I, ……………………………… the undersigned, citizen of …………………….., with Full Corporate
Responsibility, as Seller, under penalty of perjury do legally represent for myself, to guarantee
to pay fees in compliance with the terms hereof, and confirm my irrevocable commitment the
said fees in United States Dollars (USD) upon settlement of transaction as referenced in below.
CUSTOMER’S NAME
BENEFICIARY BROKER:
CONTRACT NO
BUYERS CODE
COMMODITY
ORIGIN
CONTRACT QTY
CONTRACT PERIOD
COMMISSION RATE
BROKER TO THE SELLER
REPRESENTED BY
SELLER
Terms and Conditions: The Fees of this transaction will be paid in USD directly to the BANK
ACCOUNT of the following Beneficiary’s mentioned below. This pay order becomes effective
and shall remain valid and enforceable for the full term of the referenced contract, shall apply
to any and all renewals, extensions, rollovers, additions or any new agreements between the
Buyer and the Seller, or their shareholders and or their heirs and assigns. The BROKER TO THE
SELLER will lodge this Irrevocable Pay Order with his bank. This fee protection obligation will
remain in force for a period OF THE CONTRACT AND ITS RENEWAL from the date of execution
or beginning of the contract. The applicable non‐circumvention, non‐disclosure conditions of
the ICC 500 rules and regulations are binding on all parties to this agreement or any other
pending or future transaction(s).
This agreement is transferable and the rights and obligations hereof are binding upon and inure
to respective heirs, legal representatives, assignees and/or successors of the parties hereof. The
BROKER TO THE SELLER agrees to submit to arbitration under the rules of the INTERNATIONAL
CHAMBER OF COMMERCE (article 48 and 49 of ICC 55) should any dispute occur. This
agreement will become an integral part of the sale and purchase contract agreement as soon as
the contract becomes valid and signed. All signed copies of this agreement including facsimile
transmissions thereof shall be considered legally binding documents. We, the BROKER TO THE
SELLER hereby agree and guarantee to irrevocably instruct All parties involved in this
transaction herewith irrevocably agree that the above mentioned Agents / Mandates and or
Intermediaries do not assume any responsibility for the above named transaction and cannot
be held liable for any reason associated with the above transaction, our bank to pay in favor of
the beneficiaries, the amount in USD as stated by the percentage commission discount payable
against each name below.
The Information will be kept strictly confidential by you and your Representatives and will not,
without our prior written consent, be disclosed by you or your Representatives in any manner
whatsoever, whether in whole or in part, and will not be used by you or your Representatives
other than in connection with this Agreement.
TOTAL COMMISSION SHALL BE PAID BY THE SELLER AS FOLLOWS:
We, the SELLER, do hereby irrevocably guarantee with full corporate authority and
responsibility and under penalty of perjury, to provide fee protection to the beneficiary named
below a sum of $‐‐‐ United States Dollars per Metric Tonne every month for a period of 12
months from the first transaction and shall remain valid and enforceable for the full term of the
referenced contract, shall apply to any and all renewals, extensions, rollovers, additions or any
new agreements between the BUYER and the SELLER, or their shareholders and or their heirs
and assigns.
Payment of said fees are to be made within fifteen (15) calendar days in United States Dollars
(USD) upon settlement of transaction as referenced below.
CONTRACT NO
BUYERS CODE
Beneficiary Broker Name/ Address
Represented By
Title
Passport Number
Date of Issue
Date of Expiry
Nationality
Sign / Seal / Date
Bank Name
Bank Address
Account No.
Account Name
Branch Code
IBAN Code
BY SIGNING BELOW I HEREBY ENTER INTO THIS AGREEMENT.
Signed and Attested by Seller Representative on (date) / /
…………………………………………………
Name :
Position :
Company :
Signed and Accepted by Beneficiary Representative on (date) / /
…………………………………………………
Name:
Position:
Company: