Note:
*** Required 15% face value POF
Transaction Procedures:
1. Beneficiary
issues a full intake package in English of the LOI/DOA duly completed in all respects and
signed with Beneficiary’s full banking co-ordinates to include:
1.1 Client Information
Sheet (CIS) – Annex ”A”
1.2 Corporate Resolution
(CR) – Annex ”B”.
1.3 Non-Solicitation
Statement (NSS) – Annex ”C”.
1.4 Non-Circumvention and
Non-Disclosure Agreement (NCND) – Annex ”D”.
1.5 Irrevocable
Fee Protection Agreement (IFPA) – Annex ”E”.
1.6 Beneficiary’s Signatory’s Color
Copy Passport Enlarged (140%) – Annex ”F”.
1.7 Beneficiary’s Certificate of Incorporation (COI) –
Annex ”G”.
1.8 Beneficiary List Of Shareholders
& Directors issued by the Government – Annex ”H”
1.9 PROOF OF
FUNDS LETTER within 5 banking days
current for 15% of
face value
- (ANNEX ”I”) BANK TEAR SHEET PLUS BANK STATEMENT
1.10 ATV Letter to verify bank POF
– Annex ”J”.
1.11 Pre-Advice Swift MT-799 Verbiage – Annex ”K”
1.12 Bank Payment Undertaking Swift MT-799 Verbiage
– Annex ”L”
1.13 Swift MT-760 Verbiage – Annex ”M”.
2. After
successful due diligence, Provider countersigns LOI with Provider’s Signatory
Color Copy Passport (Annex ”N”) and Certificate Of Incorporation (Annex ”O”) which
automatically becomes a Deed Of Agreement.
3. At
the agreed window time, Provider’s Issuing Bank will send Pre Advice Swift
MT799 (Pre-advice shall be valid for (4) four banking days ONLY) to
Beneficiary’s Bank with a courtesy copy by e-mail.
4. Within
Three (3) international banking days after verification, authentication and
confirmation of the Pre-advise Swift MT799, Beneficiary’s Bank will send Bank Payment
Undertaking Letter via Swift MT799 of 8+2% of the face value to PROVIDER’s Bank
with a courtesy copy by e-mail.
5. Within
Three (3) international banking days upon successful verification and
authentication of BPU, PROVIDER’s Issuing Bank sends Swift MT760 to BENEFICIARY’s
Bank with a courtesy copy by email.
6
Within Five (5) international banking days upon successful verification and
authentication of Swift MT760, Beneficiary’s Receiving Bank will wire transfer invoice price
of Eight percent (8%) plus 2% intermediary fees to PROVIDER’s bank via
SWIFT MT103 Fed Wire Cash Transfer. Simlutaneously Provider distributes
consultant fee (total: 2%) to all intermediaries as per IFPA (2%) and provide a
courtesy copy by e-mail
7. Within
Seven (7) international banking days upon successful verification and
authentication of Swift MT103, Provider’s Issuing Bank will send hard copy of
the instrument by Bank Bonded Courier to Beneficiary’s Receiving Bank
with a courtesy copy by email.
8. All
subsequent tranches will be based on the same procedures until collateral or
funds become exhausted.
9. Fifteen (15) days prior to maturity date of
instrument, the Provider’s Receiving Bank will return the instrument to the
Issuing Bank unencumbered and free of all liens.
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