Due to issues concerning loss of fees, we have come to an agreement with our providers that all fees be paid directly to issuing bank. In light of this, see below new transaction procedures. Lease fee and purchase fee, remain the same. Issuing bank is Royal Bank of Scotland. Transaction is bank to bank

1) The Receiver sends letter of intent (LOI) to Provider. The LOI should contain copies of Receiver’s passport, Company’s resolution and Client’s Information Sheet (CIS), Company Registration and IMFPA.

2) The Provider countersigns this LOI and returns to Receiver with Provider’s company signatory’s passport, and this LOI automatically becomes a full commercial non- recourse contract. Both parties shall lodge the executed contract to their respective banks.  

3)  Within 3 working days the Receiver will provide bank statement not more than a week old, signed by two bank officers showing availability of funds to pay fees

4)  After receipt of bank statement  provider will issue a signed and sealed Corporate Refund Recourse Undertaking to the Receiver guarantying to refund Receiver all the cost incurred by Receiver for the bank administrative charges.

5) No later than two days after receipt of signed and sealed Corporate Refund Recourse Undertaking, receiver will wire 2% face value (security deposit) via MT103/direct wire into  SBLC ISSUING bank account

6) Within Three (3) banking days after confirmation of receipt of 2% security deposit in SBLC ISSUING account, the Provider will deliver the BG via bank confirmation of swift MT760 to   the Receiver's bankers including the hard copy of the SBLC via bank bonded courier in Seven (7) banking days.

7)The Receiver pays the Provider the complete 6% lease price and the brokers their commission fees not later than 7 banking days after the SBLC hard copy is received and confirmed at the Receiver's bank. Should Receiver default to pay the lease price to the Provider and the brokers’ commission fees as agreed after 7 banking days of confirmation of SBLC MT760 in Receiver's bank account, The Provider will instruct the issuing bank to put a claim on the SBLC thereby forcing the Receiver's bankers to return the SBLC MT760 to the issuing Bank


close procedure min 51m - 500m

1.      Receiver sign the draft Agreement and submits to Provider with Six Months Bank Account Statement showing that they have a balance of above 1% (510,000 to 5,000,000) of the BG/SBLC value (51,000,000 to 500,000,000) of the BG/SBLC They applied for. 

2.      Provider reviews and if acceptable signs which thereby automatically becomes a full recourse commercial contract. Provider returns the final contract to the Receiver.

3.      Within Two banking days after both parties sign the Deed of Agreement and Bank Account Statement is sent; Provider Bank will send MT799 Pre-Advice to Receivers Bank.
4.      Provider sends copy of the MT-799 Pre-Advice to the Receiver banking within Twenty Four Hours.

5.      Within Two Banking days of the Receiver confirms receipt of the MT-799, The Receiver Pays 1% (510,000 to 5,000,000) out of 38% Buy fee (or 6% Lease Fee - in case of lease) to the sender’s Nominated bank account and sends the swift payment copy to the Provider.

6.      Within Two Banking days of Provider receiving the 1% charge, Provider Bank shall send the BG/SBLC by MT-760. 


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email: spz.resources@gmail.com

close procedure min 500m - 1b

1.   Receiver sends to Provider a Letter from his Receiving Bank confirming that the Receiver the Bank to issue (ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL)) on behalf of Receiver. 

2.      Provider and Receiver sign the DOA, which thereby automatically becomes a full recourse contract after the Provider has accepted Receiver’s application.

3. Receiver. issues conditional ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) for 36% of Full Face Value (6% of Full Face Value - In case of Lease) + 2% commission.

4.      Within Three banking days after ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) is confirmed by Providers Bank; Provider Bank will send MT799 Pre-Advice and MT-760.

5.      The Receiver’s bank receives, confirms and verifies the MT760 (BG/SBLC);The Receiver's Bank then releases the ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) for the benefit Provider within two banking days.Provider then pays the respect 1% commission on seller’s side and the 1% commission of Receivers side to the respective brokers/agents.

(Should Receiver default to lease the ICBPO / MT799 PAYMENT UNDERTAKING (CONDITIONAL) within two banking days after receipt of Swift MT-760, Provider shall instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Receiver's bankers to return the swift MT-760 (BG/SBLC) to the issuing Bank.)

email: spz.resources@gmail.com
skype: kem5969