Invest finance bank

Purchase of Goods by Buyer as Agent

1. 
   From time to time, the Buyer shall identify Goods that:
   
   1. 
      it wishes to purchase from the Supplier on behalf of the Bank in accordance with the terms of this Agreement; and
      
   2. 
      it wishes to purchase from the Bank after such Goods have been procured by the Buyer on behalf of the Bank in accordance with the terms of this Agreement.
      
2. 
   The Buyer shall submit to the Bank the terms and conditions of the draft Purchase Contract along with a Purchase Notice for the approval of the Bank before it concludes any Purchase Contract.
   
3. 
   The Bank shall communicate to the Buyer its approval of the Purchase Contract by sending to the Buyer a Notice to Proceed. Following receipt of a Notice to Proceed the Buyer shall enter into the Purchase Contract on behalf of the Bank.
   
4. 
   The Buyer undertakes to ensure that the Supplier is not on the Boycott List of the Organization of the Islamic Conference concerning the Boycott of Israel.
   
5. 
   In acting as an agent of the Bank, the Buyer shall act as if acting for its own account and shall take all necessary measures to protect the Bank’s rights and interests and will not do or omit to do anything which will be inconsistent with its obligations and responsibilities under the Agreement.
   
6. 
   The Buyer undertakes to select the Goods and to exercise as much care in satisfying itself as to matters of quality and quantity of the Goods and title thereto and of performance by the Supplier as if it were purchasing the Goods for its own account directly from the Supplier.
   
7. 
   The Buyer shall be fully and solely responsible for the quality, condition, selection and specifications of the Goods and for deciding the need for, and the extent and the manner of, the transaction and storage thereof.
   
8. 
   The Buyer shall ensure that all necessary permits, exchange control approvals, import licenses and all other consents and clearances required in connection with the import of the Goods are obtained.
   
9. 
   Once approved by the Bank, no material amendment to the Purchase Contract or waiver or cancellation of the Purchase Contract shall be made or agreed by the Buyer without the prior written consent of the Bank.
   
10. 
    The Buyer shall ensure that the purchase of the Goods will be done without the assistance or intervention, whether direct or indirect, of any middleman, commission agent or a similar person unless otherwise agreed by the Bank.
    
11. 
    The Buyer shall, on behalf of the Bank, do all things and observe and perform all obligations falling to be done or observed under the Purchase Contract as if the Goods are purchased by the Bank directly from the Supplier.
    

Delivery

The Buyer shall ensure that the Purchase Contract provides for the delivery of the Goods directly to the Buyer or to its order, and the Buyer shall be responsible for checking its quality, quantity, specifications and all other matters relating thereto.

4.