Shohimardonobod mastona chashmalari

Operation No: ITFC/AGROBANK/UZB/204/0003

MURABAHA AGREEMENT

BETWEEN

INTERNATIONAL ISLAMIC TRADE FINANCE CORPORATION
AND

“SHOHIMARDONOBOD MASTONA CHASHMALARI” LLC

FOR THE PURCHASE AND SALE OF THE GOODS TO “SHOHIMARDONOBOD MASTONA CHASHMALARI” LLC (THE COMPANY)
PURSUANT TO A LINE OF TRADE FINANCING AGREEMENT
CONCLUDED BETWEEN THE
INTERNATIONAL ISLAMIC TRADE FINANCE CORPORATION AND
JOINT STOCK COMMERCIAL BANK “AGROBANK”, UZBEKISTAN (THE LINE BANK)
ON 23/11/2020


MURABAHA AGREEMENT
THIS AGREEMENT is made on 21/01/2021 between the International Islamic Trade Finance Corporation, an international financial institution, established pursuant to its Articles of Agreement signed/ratified by its Member Countries and having its headquarters in Jeddah, Kingdom of Saudi Arabia at P.O. Box 55335, Jeddah 21534 Kingdom of Saudi (hereinafter referred to as “ITFC”) and “SHOHIMARDONOBOD MASTONA CHASHMALARI” LLC (hereinafter referred to as the “Company”).
ITFC and the Company collectively referred to as the “Parties” and individually as “Party”.

Whereas,

1. 
   ITFC and Joint-Stock Commercial Bank “AGROBANK” (hereinafter referred to as the “Line Bank” or the “Guarantor”) signed on 23/11/2020 a Line of Trade Financing Agreement (hereinafter referred to as the “Line Agreement”) by which ITFC allocated an amount (hereinafter referred to as the “Aggregate Amount”) to the Line Bank with a view to invest the same in Murabaha Operations in US$10,000,000 (Ten million US dollars) in accordance with the terms and conditions of the Line Agreement.
   
2. 
   ITFC has authorized the Line Bank under the Line Agreement to identify, appraise and approve Operations strictly in accordance with the terms and conditions thereof and to sign the Murabaha Agreement on its behalf.
   
3. 
   The Line Bank, as a guarantor, and not merely as a surety, has unconditionally and irrevocably guaranteed to ITFC the due and punctual execution of the payment obligations of the Company under the Murabaha Agreement.
   
4. 
   The Company has requested ITFC to purchase a quantity of soft wheat (hereinafter referred to as the “Goods”) and sell the same on Murabaha basis to the Company; and the Line Bank has agreed to provide a Bank Guarantee prior any Utilization.
   
5. 
   ITFC has, on 04/01/2021 approved the purchase of the Goods in an amount not exceeding USD 1 000 000,0 (one million US Dollars) (hereinafter referred to as the “Approved Amount”), and the sale thereof to the Company against the security of a Guarantee from the Guarantor and subject to the terms and conditions of this Agreement.
   
6. 
   ITFC has agreed, subject to the terms and conditions of this Agreement, to authorize the Company, as an agent of and for and on behalf of ITFC and to the extent of the Approved Amount, to negotiate with a supplier or suppliers and to conclude a contract/contracts for the purchase of the Goods (hereinafter referred to as the “Purchase Contract(s)”);