LEASED SBLC/BG - NO UPFRONT FEE - 13%+3% Ref.: #111620L

STRICTLY BANK TO BANK TRANSACTION : 

  1. No changes to Procedure or application requirements.
  2. Paying bank must meet Providers approval: 
    IMPORTANT:: You MUST complete this form>>CHECK IF CLIENT'S  BANK IS ACCEPTABLE<<
  3. Once the paying bank is approved we will send you the DOA for your client.
  4. BCL from the Bank of the client signed by 2 bank officers confirming that they are Ready, Willing & AbleTu  to Issue the Swift 799 (BPU) as they get  the swift MT799 from the bank of the Provider.
    The BCL must be part of the application and must be provided along with Buyer signed DOA.
  5. POL (Proof of life) must be part of the application and must be provided along with Buyer signed DOA.
  6. Any incomplete applications, client modified DOA, special requests etc. will not be considered.
  7. If any of the procedure or terms are not suitable to the applicant, please DO NOT APPLY and don't ask us for changes. 
  8. The commission structure is fixed and also not negotiable. There is no flexibility on the Lessors part.
  • Minimum Contract Value = 100 Million USD/€
  • Minimum Tranche Size = 50 Million USD/€
  • Commission to Introducing Agent = 0.50%

Bank to Bank Transaction Procedure:
(Please read carefully)

1. THE LESSEE SUBMITS CIS / LOI / CURRENT DATED BCL SIGNED BY 2 BANK OFFICERS MENTIONING THEIR PIN CODES ALONG WITH THE SIGNED DOA CONTRACT TO LESSOR.

2. AFTER SUCCESSFUL DUE DILIGENCE BY LESSOR’S BANK , LESSOR FILLS HIS SIDE OF INFORMATION IN THE DOA CONTRACT AND RETURNS CONTRACT AS COUNTERSIGNED .

3. THE LESSOR IN TWO BANKING DAYS WILL SEND PRE-ADVISE VIA SWIFT MT799 TO THE LESSEE’S NOMINATED RECEIVING BANK.THE LESSOR WILL SEND THE LESSEE COPY OF THE SWIFT FOR TRACKING.

4. THE LESSEE ON RECEIVING THE PRE-ADVICE VIA SWIFT MT799, WILL ISSUE BANK PAYMENT UNDERTAKING (BPU) IN THREE BANKING DAYS VIA SWIFT MT799 TO THE LESSOR’S NOMINATED BANK (13%+3%) OF THE TOTAL FACE VALUE). THE LESSEE WILL SEND THE LESSOR A COPY OF THE SWIFT FOR TRACKING.

5. THE LESSOR UPON RECEIPT OF THE BANK PAYMENT UNDERTAKING AND AFTER VERIFICATION THEIR BANK WILL ISSUE THE SWIFT MT760 SBLC TO THE LESSEE’S BANK. THE LESSOR WILL SEND THE LESSEE A COPY OF THE SWIFT FOR TRACKING.

6. THE LESSEE ON RECEIVING THE SWIFT MT760 SBLC AND AFTER VERIFICATION AND AUTHENTICATION, THE LESSEE’S BANK SHALL RELEASE FULL PAYMENT WITHIN TEN (10) BUSINESS DAYS TO THE LESSOR AND INTERMEDIARIES VIA UNCONDITIONAL SWIFT MT103.

7. WITHIN SEVEN (7) BANKING DAYS FROM THE LESSOR AND INTERMEDIARIES RECEIVING THE AGREED PAYMENT, THE LESSOR’S ISSUING BANK SHALL DELIVER THE SBLC HARD COPY TO THE LESSEE ’S BANK BY BANK BONDED COURIER.

8. ALL SUBSEQUENT TRANCHES WILL BE BASED ON THE SAME PROCEDURES, UNTIL THE REQUIRED AMOUNT IS DELIVERED IN FULL.

9. ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS, OR IMPROPER SOLICITATION OR DISCLOSURE INVOLVING THE RESPECTIVE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IN IMMEDIATE CANCELLATION OF THIS TRANSACTION AND THE VIOLATING PARTY WILL INCUR COSTS FOR DAMAGES

REQUESTING THE DOA

  1. The Receiver’s paying bank must be acceptable to the Provider. Top rated quality banks are accepted and all paying banks must be approved by the Provider prior to issuing the DOA. >>CHECK IF CLIENT'S  BANK IS ACCEPTABLE<< (This link will take you to a short questionaire which will provide the answers needed in issuing the DOA.)
  2. NON NEGOTIABLE APPLICATION REQUIREMENTS

    The following are APPLICATION REQUIREMENTS and not to be confused with the Transaction Procedures.

    We are forced to require certain documents with the application for the DOA because all too many clients and Agents are submitting the application without having access to the necessary funds.

    We had several instances of clients wanting to change the signed DOA and the Provider move first with MT199 in order to activate their credit line. This is impossible and will never happen.

    We also had Agents submit essentially fraudulent Application Documents without the knowledge and authorization of the supposed Signatory.

    The following steps and documents are required. If these documents are not provided we are unable to process your application:

    1. We require POL (Proof of Life) by the Signatory of the Lease Application. (We need to know we are dealing with the actual Signatory)
      Option A: Photo of the Signatory holding his Passport with the picture page clearly visible or a photo of the Signatory holding a current newspaper with the date clearly visible. (POL is becoming increasingly required by regulatory agencies.)
      Option B: Signatory has the signature notarized on all signature pages and including the copy of the passport in the DOA.
      Notary should be a Licensed Notary located in the same country as the registration address of the client.
    2. We require BCL letter from the buyers paying bank, signed by 2 banking officers.
      * All paying banks must be approved by the Provider.
    3. Monetizing the unpaid SBLC/BG and then use the funds generated by monetizing is not possible and is illegal. If there is any indication this is the applicants objective, the application will be rejected. 
    4. Once the paying bank is approved and the required Application Documents provided, we will send a DOA to be completed by the Client.
    5. If the Client returns a fully completed acceptable DOA, the Provider will, after successful due diligence, countersign the DOA.

    NOTE: This is a “No Upfront Fee Procedure”. Procedure is strictly Bank to Bank. The Provider is taking all the risk. Therefore no changes to the procedure, the pre-screening requirements or the commission structure are possible.

Office Hours:
Monday - Friday 04:00 - 15:45
Saturday 04:00 - 08:30
Sunday - CLOSED

This page is current. Friday-04-December-2020

 

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