We have an alternative provider that we use sometimes. The procedure is after contracts are executed, provider's bank issues MT799 RWA. Verbaige to be presented by client. After receipt and verification of MT799 RWA, client wires 2% of face value to provider as security deposit. After receipt of 2%, provider's issuing bank delivers MT760. Full payment is released no later than seven days after receipt and verification of MT760. Minimum transaction and tranche value is 50M. Confirm if your client will be interested in having the instrument monetized
Transaction Procedure. 1. Lessee Submits DOA, LOI, CIS, PASSPORT, Current dated Bank Comfort Letter, Copy of Certificate of Incorporation and Bank Details. 2. Provider will conduct Due Diligence and upon successful Due Diligence the DOA will be signed/counter signed between lessor and the lessee . 3. The Lessor will then send MT799 pre advice. 4. The Lessee’s bank replies with RWA / ICBPO or payment guarantee of 12+3 % and the transmission fees, payable in 5-7 business days after MT760 receipt . 5. The lessor’s Bank will then send the MT760 to Lessee’s bank 6. Lessee’s bank does MT103 wire transfer to Lessor’s designated bank accounts within 5-7 business days after MT760 swift receipt After Successful Due diligence, Lessor countersigns the LOI. The Signed LOI becomes a Legal binding Commercial Contract (agreement) between the parties. Both parties shall lodge the agreement in their respectiv...
Comments