PROCEDURES
LESSEE SUBMITS LOI TOGETHER WITH COMPLIANCE DOCUMENTS :
2.LESSOR’S REVIEWS AND CONDUCTS DUE DILIGENCE ON THE LESSEE AND UPON SATISFACTORY VERIFICATION, THE LESSOR COMPLETES ITS PORTION AND COUNTERSIGNS THE SECURITIES LEASING AGREEMENT AND SENDS IT BACK TO LESSEE AS A FULL COMMERCIAL RECOURSE CONTRACT.
3.LESSEE WILL LODGE AND REGISTER THE SIGNED AGREEMENT IN HIS RESPECTIVE BANK AND SEND REGISTERED COPY TO THE LESSOR. AFTER RECEIPT OF THE REGISTERED COPY BY THE LESSEES BANK, LESSOR LODGE AND REGISTER CONTRACT IN HIS RESPECTIVE BANK.
4.AFTER BOTH SIDES REGISTER THE CONTRACT, WITHIN 3 INTERNATIONAL BANKING DAYS, LESSEE’S BANK WILL SEND SWIFT MT-799 (POF) TO LESSOR’S BANK, THE POF VALID FOR 7 BANKING DAYS VERIFY LESSEE’S CAPABILITY TO RECEIVE THE SAID BG.
5.WITHIN FIVE (5) INTERNATIONAL BANKING DAYS UPON RECEIPT OF MT-799 (POF) AND SUCCESSFUL VERIFICATION, THE LESSOR’S BANK WILL SEND THE SWIFT MT-799 TO LESSEE’S BANK CONFIRMING THAT THEY ARE READY TO ISSUE AND SEND THE INSTRUMENT BY SWIFT MT-760 AND ASKING THE LESSEE’S BANK TO CONFIRM THEIR READINESS TO RECEIVE THE FINANCIAL INSTRUMENTS AND THE AVAILABILITY OF FUNDS FOR THIS TRANSACTION.
6.WITHIN 72 HOURS UPON RECEIPT OF MT 799 AND SUCCESSFUL VERIFICATION LESSEE’S BANK WILL ANSWER WITH SWIFT MT799 PAYMENT GUARANTEE CONFIRMING THAT THEY ARE RWA TO RECEIVE SWIFT MT-760 AND TO RELEASE IRREVOCABLE PAYMENT COMMITMENTS AS PER THIS CONTRACT.
7.WITHIN (5) INTERNATIONAL BANKING DAYS AFTER RECEIPT OF MT 799 PAYMENT GUARANTEE AND ITS SUCCESSFUL VERIFICATION LESSOR’S BANK WILL DELIVER SWIFT MT-760 TO LESSEE’S BANK FOR AUTHENTICATION & VERIFICATION OF THE BG IN FAVOUR OF LESSEE.
8.WITHIN 8 BANKING HOURS AFTER RECEIPT AND VERIFICATION THE MT-760, LESSEE’S BANK WILL PROVIDE THE PAYMENT BY SWIFT MT-103 INTO THE LESSOR’S BANK ACCOUNT, AND 2% OF THE FACE VALUE OF THE BG AS COMMISSION FEES TO THE BROKER’S BANK’S ACCOUNTS.
EMAIL : spz.resources@gmail.com
LESSEE SUBMITS LOI TOGETHER WITH COMPLIANCE DOCUMENTS :
2.LESSOR’S REVIEWS AND CONDUCTS DUE DILIGENCE ON THE LESSEE AND UPON SATISFACTORY VERIFICATION, THE LESSOR COMPLETES ITS PORTION AND COUNTERSIGNS THE SECURITIES LEASING AGREEMENT AND SENDS IT BACK TO LESSEE AS A FULL COMMERCIAL RECOURSE CONTRACT.
3.LESSEE WILL LODGE AND REGISTER THE SIGNED AGREEMENT IN HIS RESPECTIVE BANK AND SEND REGISTERED COPY TO THE LESSOR. AFTER RECEIPT OF THE REGISTERED COPY BY THE LESSEES BANK, LESSOR LODGE AND REGISTER CONTRACT IN HIS RESPECTIVE BANK.
4.AFTER BOTH SIDES REGISTER THE CONTRACT, WITHIN 3 INTERNATIONAL BANKING DAYS, LESSEE’S BANK WILL SEND SWIFT MT-799 (POF) TO LESSOR’S BANK, THE POF VALID FOR 7 BANKING DAYS VERIFY LESSEE’S CAPABILITY TO RECEIVE THE SAID BG.
5.WITHIN FIVE (5) INTERNATIONAL BANKING DAYS UPON RECEIPT OF MT-799 (POF) AND SUCCESSFUL VERIFICATION, THE LESSOR’S BANK WILL SEND THE SWIFT MT-799 TO LESSEE’S BANK CONFIRMING THAT THEY ARE READY TO ISSUE AND SEND THE INSTRUMENT BY SWIFT MT-760 AND ASKING THE LESSEE’S BANK TO CONFIRM THEIR READINESS TO RECEIVE THE FINANCIAL INSTRUMENTS AND THE AVAILABILITY OF FUNDS FOR THIS TRANSACTION.
6.WITHIN 72 HOURS UPON RECEIPT OF MT 799 AND SUCCESSFUL VERIFICATION LESSEE’S BANK WILL ANSWER WITH SWIFT MT799 PAYMENT GUARANTEE CONFIRMING THAT THEY ARE RWA TO RECEIVE SWIFT MT-760 AND TO RELEASE IRREVOCABLE PAYMENT COMMITMENTS AS PER THIS CONTRACT.
7.WITHIN (5) INTERNATIONAL BANKING DAYS AFTER RECEIPT OF MT 799 PAYMENT GUARANTEE AND ITS SUCCESSFUL VERIFICATION LESSOR’S BANK WILL DELIVER SWIFT MT-760 TO LESSEE’S BANK FOR AUTHENTICATION & VERIFICATION OF THE BG IN FAVOUR OF LESSEE.
8.WITHIN 8 BANKING HOURS AFTER RECEIPT AND VERIFICATION THE MT-760, LESSEE’S BANK WILL PROVIDE THE PAYMENT BY SWIFT MT-103 INTO THE LESSOR’S BANK ACCOUNT, AND 2% OF THE FACE VALUE OF THE BG AS COMMISSION FEES TO THE BROKER’S BANK’S ACCOUNTS.
EMAIL : spz.resources@gmail.com
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