Sale Agreement Between Three Parties

The procuring entity and the contractor are parties to the contract concluded from [DATE], including all amendments thereto individually and collectively referred to as “agreements” which provide for the advance of funds under accreditation (the “akkreditiv”). The agreements provide that the credits deducted will be used exclusively to finance [DESCRIPTION]. These funds must be deposited in an account separate from the contractor`s general or other funds, with a bank that meets the requirements set out in the agreements; and if the bank meets the requirements, the parties agree to deposit these sums into an account (the “Account”) with the bank. The Contractor may at any time terminate the Tripartite Agreement with a period of at least [NUM] days in respect of the Bank if the Contractor finds that the Bank has not fulfilled the full extent of its obligations under the Tripartite Agreement or that the Bank is fulfilling its obligations in a manner that prevents the Contractor from effectively and efficiently managing the applicable programme. The CLIENT may at any time terminate this tripartite agreement by written notice to the other two (2) parties. This Agreement (this “Tripartite Agreement”) applies from [date] and consists of [customer`s name] (hereinafter referred to as “customer”); [NAME OF CONTRACTOR] (hereinafter referred to as `the Contractor`); and [BANKNAME] (hereinafter referred to as “bank”). The bank agrees that, without the prior written consent of the customer, it will not enter into any agreement with any other party to assume primary responsibility for this tripartite agreement.