FIAT CASH (BANK WIRE TRANSFER) SWAP FOR USDT

This document outlines the proposed procedure for:

USDT swap (TRC20 or ERC20) for FIAT CASH

It is intended to facilitate a secure and verified transaction process for the selling of

USDT via a Swap Mechanism using Fiat Cash Payment for USDT (TRC20 or ERC20)

between Seller and Beller.

Agreed Procedure - Buyer moves first

1   The Seller shall agree to transfer USDT (USDT Network) to the Buyer's USDT receiving Wallet in tranches of USDT (Minimum in value of XXXX USDT or more) after successful clearance of payment using Fiat currency into the seller's Bank Account.

2   Upon successful confirmation of receipt of the Fiat Cash Payment (Bank Wire Transfer) into the Seller's receiving Bank Account, the USDT Transfer to the Buyer shall immediately be transferred back to the seller using the blockchain.

Additional transfers of Fiat Cash for USDT shall continue as mutually agreed within a contract.

Each $300m tranche is insured up to $5b per day. 

When performing the Crypto Currency Swap using the "Virtual Method", the Seller confirms that they have in place an Insurance Coverage to protect each transfer of USDT made from the Seller to the Buyer. The insurance coverage policy is activated upon receipt of the Fiat Cash funds (Bank Wire Transfer) into the Seller's receiving Bank Account. At that point of clearance, the Seller will commence the transfer of USDT to the Buyer. The hashtag is generated upon each successful transfer of USDT on the Blockchain to the Buyer. As soon as the hashtag is generated, both the buyer and Ping An are notified that the trade has gone 'live' and will be both monitoring the trade contemporaneously to ensure a smooth completion of the process.

This cover exists between the Seller's insurance company (Ping An) and the Seller and guarantees to the Buyer that the digital asset value of each tranche within the trade is covered. Should for any technical reason the Seller not be able to send the equivalent USDT back to the Buyer upon successful clearance of the Fiat Payment into the Seller's receiving Bank Account, then Ping An Insurance will 'step in' and perform the completion of the tranche value and directly return the Fiat Cash Funds directly to the Buyer.

Email david@jetblackholdings.co

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