CLOSING TRANSACTION PROCEDURES
TRANSACTION DESCRIPTION:
| INSTRUMENT | STANDBY LETTER OF CREDIT/BANK GUARANTEE – CASH BACKED |
| CURRENCY | USD/EUR |
| TOTAL FACE VALUE | > 5.ooo.ooo |
| ISSUING BANK | BARCLAYS BANK PLC,CITI Bank NY |
| AGE | 1 YEAR AND 1 BANKING DAY |
| FEES | 42% + 2% Purchase / 10% + 2% Lease |
| DELIVERY | BANK TO BANK SWIFT MT799 AND/OR MT760 |
| PAYMENT | MT103 / Escrow Service |
| HARD COPY | By Bank Bonded Courier Within 7 days after delivery of Swift MT760 |
TRANSACTION PROCEDURES:
BUYING PRICE >42% + 2%
LEASE PRICE 10% + 2%
for Purchase only
Bank to Bank Procedere,
Price is 42+2 may be higher.
CITI-Bank NY or Barclay’s London (MT760)
Procedures
1. Buyer Provides
a) LOI on the Buyer’s letterhead.
b) KYC.
c) RWA signed by two bank officers and their business cards.
d) Due Diligence on the company and the principal. (About 5 days.)
e) Instrument is ordered and is issued in 5 to 10 banking days.
f) Provider sends MT 799 Pre-advice to Lessee’s bank.
g) Lessee’s bank responds with MT 799 BPU.
h) Provider sends MT 760
i) Buyer does due diligence, verification and has upto five days for acceptance.
j) Pays via MT 103.
k) Hard Copy is sent within 5 banking days.
———————-
for Lease.
Procedure Via Escrow
CITI-Bank NY or Barclay’s London (MT760)
Lease price 10% +2%
Cash backed. Insurance wrapped.
Procedures.
1. One page application.
2. Provider calls the Lessee
3. Paperwork is exchanged between the two parties.
4. Lessee moves funds to Escrow.
5. Instrument is issued and sent via MT 760 to the lessee.
6. Upon due diligence and satisfaction funds are transferred to the Provider from Escrow.
PROCEDURES FOR SBLC TRANSACTIONS:
1. Client or Broker completes information form
2. Quote is provided for review by Provider
3. Quote is accepted by client
4. Client notifies Provider of readiness to proceed
5 Provider generates documentation package
6. Client reviews and executes documentation package
7. Client pays fees for the instrument
8. Issuer issues the SBLC and sends it out for SWIFT
9. Receipt (SBLC Client Copy) is provided to client
10. If the transaction involves (MT760) it is performed
To quote you accurately we will need a CIS for basic information and the amount requested.
At the present time, the SWIFT Agent is sending the SBLC through CITI-Bank NY or Barclay’s London as (MT760)
If escrow company is requested, we are using U.S. Escrow Company at present. They are fully bonded, licensed, and insured to do “Holding Escrows”, they are in U.S. California. Their charges are included in the Cost of the Instrument as all other banking and legal fees.
The fees for the 366-day SBLCs sent via MT760 are set presently a total of 10% and those fees are all inclusive INCLUDING the escrow fees and the MT760 fees. The process can take from 5 to 15 days usually.
Procedures are non-negotiable and amazingly simple !
Rechtlicher Hinweis/Haftungsausschluss: Wir bieten keine Rechts- oder Steuerberatung an und übernehmen keine Haftung für gemachte Angaben oder daraus resultierende Auswirkungen im Einzelfall. Diese Website sollte nur als Informations- und Inspirationsquelle genutzt werden. Wir ermutigen jeden Leser ausdrücklich, die von uns gemachten Angaben selbst zu überprüfen.