Date: 22nd December 2024
The Deputy Managing Director & CBO
Prime Bank PLC
Corporate & Institutional Banking Division
Simple Tree Anarkali, (6th Floor),
89 Gulshan Avenue, Dhaka-1212
Dear Sir,
2. Sanction Advice Letter;
3. Demand Promissory Note;
4. Letter of Country;
5. Letter of Disbursement;
6. Letter of Agreement /Arrangement;
9
Subject: Submission of documents for acceptance of LJC Sanction of BDT 1,50,00,000/= to import
spare parts for Textile Machinery. Ref: Prime/HO/CAD/CNIB/2024/391.
7. Letter of Revival;
8 Letter ofAuthority;
1. Notice &Minutes of board meeting after Sanction Advice Letter;
muratec
With reference to the above-mentioned subject I would like to inform you that the below documents are
submitted for Murata Machinery Bangladesh Ltd. acceptance renewal of L/C Sanction:
MURATA MACHINERY BANGLADESH LTD.
Paradise Tower (13th Floor), Plot No. 11, Road No. 2,
Sector No. 03, Uttara, Dhaka-1230, Bangladesh
Tel: +88-02-48955001 Fax: +88-02-48955a02O
Letter ofUndertaking, Indemnity and Declaration;
Koboru do
'Managing Director
R
ECEI
Murata Machinery Bangladesh Ltd.
Conter
Date:
Time:...*
10. Letter of Lien for Advance Against FDR/SDR/MBDR/Other Schemes.
titutional Bankina
Corporate & Institut
Prime
Bank
PLC..
Head
Office
Not
Kindly receive the documents and it is requested to take the necessary step as s0on as possible.
Regards,
Initial.*
y Ba ninery
SANCTION ADVICE LETTER
For:
Murata Machinery Bangladesh Limited
Date: December 09, 2024
Date: December 09, 2024
Prime Bank
Our Ref: Prime/HO/CAD/CNIB/2024/391
Murata Machinery Bangladesh Limited
Paradise tower, 13th Floor, Plot#11,
Sector#3, Uttara, Dhaka, Bangladesh
Attention: Mr. Noburu lde, Managing Director
Dear Sirs,
A. Facility Details:
We are pleased to write that Prime Bank PLC. (the "Bank") is willing to consider making available a revolving LC
(Sight) facility for BDT15.00 million subject to fulfillment of the following terms, conditions and security
documentations as detailed below:
Name of the facility
Facility Amount
B
Purpose
Margin
Expiry
Commission
Mode of Repayment
Security Arrangements
Note:
Other Conditions
Letter of Credit (Sight)-Limit
BDT15.00 Million (BDT Fifteen Million Only).
PLC.
To import machinery, equipment/spare parts of Shipping and Textile machinery for
trading purpose.
100% margin in the form of cash or FDR.
0.30% p.q.
01 year from the date of sanction advice letter; Every LC shall have specific validity
as per terms of indent/P!
a.
Sanction Advice Letter
From the kept margin or cash from own source of the customer.
b
b.
C.
d
e
STRICTLY CONFIDENTIAL
100% margin in the form of Cash/FDR.
LC related documents.
Other as details below.
Security/Collateral Details:
All prices of goods to be imported, must be verified before opening each LC.
Relevant regulatory instructions from Bangladesh Bank/NBR, CCI&E etc must
be meticulously followed.
Any additional cost due to FEX fluctuations or others reason, client will bear
the cost.
Bank shall open the LC after proper completion of documentation and other
necessary formalities as per sanction terms complying all the relevant rules &
guidelines of the bank, Import Policy, guidelines & Govt. circulars/policy
guidelines of the Government.
LC amount may increase/decrease due to exchange rate fluctuation. For such
increase excess amount shall be borne by the customer.
01. Bank may continue the above facility and allow drawing after validity/expiry which is fully Bank's
discretion.
02. BDT 20,000.00 will be realized as Loan Processing fee at the time of availing the facility.
01. Board Resolution from Murata Machinery Bangladesh Limited toavail the credit facility from Prime Bank
02. Demand Promissory Note and Letter of Continuity for BDT 15.00 Million each from Murata Machinery
Bangladesh Limited
D
03.. Letterof tisbursement for B Re¡NAUR from Murata Magangladesh Ligt
SPage 1 of 4
Prime Bank PLC.Head Office- Simpletree AnarkHotingNo: 89,Plot No: 03, BlaskWs(A, Glshan Avena Gistan bhaka-1212,Bangladesh
PABX: 880-2-223387265, 223390747-8, Fax: 880-2-55068685, E-mail: info @primebaniközbdi, SwIFT: PRBLBDDFNelsite: www.primebank.com.bd
Prime Bank
04. Letter of Agreement/ Arrangement for BDT 15.00 Million from Murata Machinery Bangladesh Limited
05. Letter of Revival BDT 15.00 Million from Murata Machinery Bangladesh Limited
06. Letter of Authority from Murata Machinery Bangladesh Limited
07. Letter of Undertaking from Murata Machinery Bangladesh Limited
C. Special Conditions:
01 Submission of your Financial Statement (Audited /Management Prepared) should be made upon
completion of each yearly/interim audit within 30 days from the date of completion and in any case within
90 days of the financial year end and Audit is to be done by Bangladesh Securities and Exchange
Commission's (BSEC) enlisted auditors.
02 Credit Rating of the firm/company by External Credit Assessment Institutions (ECAIs) to be provided to the Bank.
03 Insurable assets of the Borrower need to be insured properly and original insurance policy (covering at least
Flood, Fire and Cyclone) along with original Premium Paid Receipt need to be submittedto Bank. If the same
is not done, then the Bank reserves the right to obtain new insurance policy debiting borrower's account
keeping Prime Bank PLC. as beneficiary.
04 The Borrower shall not enter into borrowing arrangements of any sort with any other Bank, Financial
Institution, company or otherwise without prior written consent from Prime Bank PLC.
05 The borrower undertakes to pay all additional payment, arising due to the fluctuation of exchange rate
against any liability in foreign currency either in direct or contingent. The exchange rate as decided by the
Bank willbe conclusive and final.
06 The Borrower shall permit the Bank or its appointed contractors or agents to inspect factories, warehouses,
offices, establishments and other premises of the Borrower or its agents, contractors or representatives as
the Bank shall require.
D. Terms and Conditions for LC:
07 The Bank will ensure satisfactory Credit Report on the supplier before opening the Letter of Credit (if
applicable).
08 Pre-shipment inspection to be made by the "agency" approved by the Government of Bangladesh (if
applicable).
09 The Bank shall open the LC after proper completion of documentation and other necessary formalities as
per sanction terms complying all the relevant rules &guidelines of the Bank, Import Policy, Guidelines for
Foreign Exchange Transactions of Bangladesh Bank &Govt. Circulars/policy guidelines of the Government.
10 Before opening the LC, Insurance Policy must be obtained covering goods/items to be imported complying
all the relevant rules &guidelines from time to time.
E.
11 Additional fund, if any arises at the time of lodgment /making payment against shipping documents under
the LC due to fluctuation of exchange rate must be borne by the Borrower.
12 For opening of LC, Duty/ VAT and other costs shall be borne by the Borrower from it'sown sources.
General Condition:
01. In accordance with the Bank's policy, the Facility(ies), ifmade available, are subject to the Bank's periodic
review, and continuation thereof is subject to the Bank's satisfaction as to the circumstances deemed
relevant by the Bank.
02. Prime Bank PLC. reserves the right to change the interest rates and/or charges mentioned regarding the
above mentioned facility(ies) as guided by Bangladesh Bank from time to time, including but not limited to
the event where the Borrower utilizes the above facility(ies)in any manner beyond the terms of this letter.
03. The rate of interest determined by Prime Bank PLC. from time to time shall remain in full force, even though
the account(s) in the Borrower's name with the Bank are closed, become dormant or are subject to
litigation, until full settlement of all the Borrower's liabilities to the Bank.
04. The Bank may grant credit facility(ies) subject to its receipt of clean ClB report on the Borrower, as instructed
by Bangladesh Bank at alltime during the availability or outstanding of Facility(lies), the borrower's CIB status
needs to be clean.
05. In addition to the approved rate of interest on regular credit, Penal Interest @1.50% p.a. will be realized on
the unpaid amount from the following day of the expiry date on which the said amount was due to be paid,
but not paid. chiner Bang
(DL.. Page 2 of 4
Prime Bank PLC., Head Office- Simpletree Anarkali, Holding No: 89,Plot No: 03, BlocHAI, Gulshan Avenue Gsa phaka-1212, Bangladesh
PABX: 880-2-223387265, 223390747-8,Fax: 880-2-55068685, E-mail: into@ primebank.Com-bd, SWIFT: PRBLBDDH; Wbse: www.primebank.com.bd
Prime Bank
06. By accepting this offer of the Bank, the Borrower hereby confirm and undertake that they are not enjoying any other available lines of credit facility(ies) from any lender, apart from those disclosed in writing to the Bank.
07. By accepting this offer of the Bank, the Borrower hereby confirm and undertake that no Director/Sponsor of Prime Bank PLC. or any of their family Members/Dependent has got any direct or indirect interest in your business and/or in the business of your sister/allied concern. 08. By accepting this offer of the Bank, the Borrower hereby confirm and undertake that they will utilize the loan amount for the approved purpose only. The Borrower further agrees that they shall not use any fund availed as facility(ies)of the Bank for direct or indirect financing of tobacco farming, trading or curing or for any other purposes prohibited by regulations and shall use any amounts advanced in accordance with Mandatory Jute Packaging Act 2010 where applicable. Any deviation may result in cancellation of the credit facilities extended under this sanction advice.
09. The Limit/Facility(ies) may, without prior notice, be modified or canceled, in whole or in part, at the Bank's sole discretion, whereupon all outstanding amounts owing under the Limit/Facility(ies) shall become
immediately due and payable, forthwith on demand.
10. The Borrower accepts and consents that, the Bank may at any time, without prior notice to the Borrower,
apply any credit balance (whether or not then due) to which the Borrower, apply legally or beneficially
entitled on any account(s) and any sum(s) held to the Borrower's order with the Bank.
11. The Borrower shall indemnify the Bank against all legal and out-of-pocket costs and expenses relating to the
establishment of the Facility(ies) and the enforcement by the Bank of any of its rights, whether or not as a
result of any default by the Borrower of its obligations, under the Facility(ies) or otherwise, and the same
be paid by the Borrower forthwith on demand by the Bank.
12. The Borrower shall not change its ownership structure, including Board of Directors, Shareholding or
Memorandum of Association and/or Articles of Association without prior written consent of the Bank as per
the provision of Bank Company Act, 1991.
13. The Borrower declares that they shall keep the Bank informed about the happening of any event and the
information and data furnished and to be furnished to the Bank are and shall be true and correct.
14. If the directors and/or significant shareholders of the borrower engage in litigation amongst themselves and
if such activity impairs the repayment capacity of the borrower (as it deemed by the lender), the Bank shall have the right to cancel the facility and demand repayment in full.
15. The Borrower accepts, confirms and consents for the disclosure and sharing of all or any information and
data relating to the Borrower, the Facility(ies), the Borrower account and the Facility(ies) agreement(s) and
documents by the Bank to any competent body required under law.
16. The disbursement of the above offered credit facility(ies), if accepted by the Borrower, would at all times
and in any event be subject to and dependent on the availability with the Bank of loanable funds.
17. The Borrower will continue to conduct their business in compliance with all legal and applicable lawS and
shall not conduct any business that violates all present and future Anti-Corruption and Anti-Money
Laundering Laws of the land.
18. The bank is authorized to sell or assign or transfer allor any portion of the credit facilities disbursed to a
third party and also authorized to transfer or assign the security documents/ collateral's/Guarantee
executed by the Borrower/Guarantor(s) in favor of the Bank, without the permission of the Borrower.
19. The Borrower shall comply with all environmental, labor and other social rules, regulations, guidelines and
laws of Bangladesh and shall conduct business and operations / activities with due diligence in line with
Environmental & Social Risk Management System.
20. The Borrower shall undertake to ensure that diligently designs, constructs, operates, maintains and
monitors all of its plants, sites and equipment in a safe, efficient and business-like manner and shallat all
times comply with relevant National laws.
21. The Borrower shall promptly notify the Bank of any serious events concerning the environment or
occupational health and safety or social issues.
22. The Borrower shall comply with allaction items agreed in the Environmental and Social Action Plan (if any
has been developed) to address any identified environmental and social non-compliance(s) in his business
operations. All action items should be completed within the deadlines agreed between the Bank and the
Borrower.
23. This Letter shall be governed by and construed in accordance with the laws of Bangladesh. The Borrower
accepts irrevocably to submit to the juris Hop tecourts of Banaesh
Page 3 of 4
Prime Bank PLC., Head Office- Simpletree Anarkali,Holding No: 89, Plot No: 03, Block: WSA Gulshan Avenug GuShän, Dhaka-1212,Bangladesh
PABX: 880-2-223387265, 223390747-8, Fax: 880-2-55068685,E-mail: info @primebank.com,bd, SWIFT: PRBLBDDH, Website: www.primebank.com. bd
F
Prime Bank
Events of Default:
The facility(s) extended to the borrower will be treated as "Defaulted". if: 01. Any borrower fails to pay any sum due from it hereunder on the due date or on demand, if so payable; 02. Any representation, warranty or statement which is made for deemed to have been made by the Borrower in this sanction letter proves to be incorrect in any material respect or if repeated at any time with reference to the fact and circumstances subsisting ate such time would not be accurate in all material respect. 03. Any provision of thissanction letter is or becomes, for any reason, unenforceable; 04. The Borrower is (or could be deemed by law or court to be) insolvent or unable to pay its debts and there is a material, adverse change in any borrower's financial positions; 05. Any petition or application is made for the appointment of administrator or similar officer in respect of all or any part of borrowers' business or assets; 06. Any borrower becomes (or could be deemed by law or court to be) insolvent or unable to pay debts or any step is taken by creditors for the winding up of borrower's business; 07. The Facility(ies) (thereby renewed/sanctioned/disbursed) is used for any purpose other than those specitied herein, it shall be treated as material breach and an event of default from borrower's end; 08. Any breach of regulatory requirement and non-compliance of remedial action as set by the concerned regulator(s)/court;
09. Any of the above General Covenants and Conditions is violated.
Required charge documents and all other security documents for the above credit facilities to be executed by any perSon duly authorized through Board Resolution provided to the Bank. You are also hereby requested to
put your signature on the Sanction Advice Letter as your acceptance of all the terms and conditions mentioned above against the facilities and return the same to the Bank on or before January 08, 2024.
Yours faithfully,
For Prime Bank PLC.
Muhamntad shafiqur Rahryan
Tean Head
Credit Administraion Divis/on
Agreed and Accepted
For and on behalf of the
Murata Machinery Bangladesh Limited
Sey'& signae of the Borrowerl Date:
LosadeSA
Md. Azad Hossain
Team Head
Corporate & Institutional Banking
Page 4 of 4
Prime Bank PLC.. Head Office- Simpletree Anarkali, Holding No: 89, Plot No: 03, Block: CWS(A), Gulshan Avenue, Gulshan, Dhaka-1212, Bangladesh
PABX: 880-2-223387265. 223390747-8, Fax: 880-2-55068685, E-mail: info@ primebank.com.bd, SWIFT: PRBLBDDH, Website: www.primebank.com.bd