ITFI definition
Examples of ITFI in a sentence
You accordingly hereby irrevocably instruct ITFI to make the Supplier Payment on the respective BIE Disbursement Date, direc6y to the Exporter.
In the event of any disagreement, you hereby undertake to advise ITFI urgently by return fax.
If an L/C is issued on behalf of the Importer, an issuance fee of 0.55% for each 30 days or part thereof that the L/C is outstanding, calculated from the date of issuance of each L/C by ITFI to the final negotiation date of each UC.
Interest will be added to the amount of the corresponding Supplier Payment in computing the face amount of each B/E calculated from the date of dispatch of the required documents by ITFI (as detailed in paragraph 1 above) to the date which is three business days after the date of the maturity of the B/E as notified to you pursuant to Section 1 d) above (the "Term").
ITFI may assign or otherwise transfer all or any part of its rights, benefits and obligations under this agreement and under the B/E and ITFI may disclose to each potential assignee or other transferee such information about this transaction, as ITFI may consider appropriate.
Subject to the continuing availability of Credits insurance (which has been arranged by i Trade Finance under their policy with ▇▇▇▇▇ ACI) with costs to be borne by ITFI .
You agree to pay ITFI a non-refundable Confirmation fee (risk fee) calculated at the rate of 0.75% flat of the Supply Payment component of each B/E for each 3O-day period or part thereof during the period from the issue date of each POC to the maturity date of each corresponding B/E.
If any Taxes are levied, deducted or withheld on any payments made by you hereunder, you will pay to ITFI such additional amounts as are necessary to ensure that the net amount actually received and retained by ITFI (free and clear of such Taxes) will equal the full amount of the payment ITFI would have received had no such Taxes been levied, deducted or withheld.
Interest will be calculated at the rate of 1.75% per annum over HSBC Bank Canada, Toronto's Prime Rate or at the rate of 1.75% per annum over HSBC Bank Canada, Toronto's US Base Rate as that Bank defines those terms, for the Term as determined by ITFI based on the actual number of days in the Term divided by 365 in the case of Canadian Dollars or 360 days in the case of US Dollars.