Asked in Economics
What is IMFPA?
April 01, 2011 8:36AM
Irrevocable Master Fee Protection Agreement
where you as buyer's or seller's mandatatry, who signs this IMFPA with either the seller or the buyer for claiming your commission.
Asked in Business and Industry
I am Middleman for foreign Seller who have agreed to pay me commission after complete the business transaction how to ensure my commission being paid to me in my country?
Asked in Investing and Financial Markets, Business Accounting and Bookkeeping, Microsoft Corporation, Accounts Payable
What is a Ledger to Ledger Currency transaction?
1) USD Provider and EURO Provider, directly or through their authorized mandated representative would accept, sign, seal and returna private currencies exchange agreement, along with IMFPA which is an integral part of this PFCTA, by fax or e-mail (hard copies to be sent by courier service if required). 2) The EURO Provider arranges the USD Provider's multi currencies account for the purpose of this transaction. The USD Provider shall provide to the EURO Provider the necessary documents for the account opening. 3) The transaction will start as per the agreed schedule immediately following the activation of the specialised bank account. 4) The USD Provider shall transfer daily the face value of each scheduled Tranche less the Discount to his specialised bank account. The EURO Provider executes the exchange immediately when the funds are received on the Customer's specialised account. The balance of the face value meaning EURO Provider's Bonus and intermediaries' Commission, the Discount, will be transferred the very next day as per Addendum 4. This way, fees are paid after performance of the EURO Provider