Monetization
GENERAL
PROCEDURES FOR MONETIZATION OF ACCEPTABLE FINANCIAL INSTRUMENTS FOR
COLLATERAL AGAINST CREDIT FACILITIES
1.
After both parties have executed this Agreement, Party’s 2
Bank will send RWA (Ready, Willing & Able) by Bank secured E-mail to
Party’s 1 Bank secured E-mail for confirmation of willingness to issue the
instrument as per mutually agreed verbiage.
2.
Party’s 1 Bank will make the communication with
Party’s 2 Bank for verification, confirmation of the RWA as well on providing
the confirmed transaction Banking’s coordinates and the terms and conditions of
the agreement signed with of the schedule proposed transaction.
3.
Within seven (7) International Banking days
Party’s 2 Bank will send SWIFT MT-799 Pre-Advice on the readiness and
capability to issue the SBLC to Party’s 1 Bank as per agreed verbiage by both
and the amount of the face value.
4.
Within seven (7) International Banking days upon
receiving the MT799 from Party’s 2 Bank, Party’s 1 Bank will confirm back by
MT199 to Party’s 2 Bank to confirm able and ready to receive the MT760 to
collaterise the loan for project financing as per agreed verbiage terms and
conditions.
5.
Within seven (7) international Banking days,
Party’s 2 Bank will make arrangement to delivers the SBLC via SWIFT MT760 to
the Party’s 1 Bank as per agreed verbiage and face amount of the SBLC
6.
The Party’s 2 Bank will send to Party’s 1 Bank by secured
Bank’s email a copy of the sent SWIFT MT760 to enable Party’s 1 Bank as proof
and to confirm, authenticate and verify the SWIFT by Party’s 2 Bank.
7.
Upon the successful delivery and verification of
the SWIFT MT760 as operative instrument, within seven (7) International Banking
days, Party’s 1 Bank will release payment SWIFT MT103 to Party’s 2 nominated
account.
8.
The Receiver will
send 50% of the value of the instrument
to the Provider nominated account . 10% of the will buy paper for used in
trade. The 5% will be divided by both parties.
9.
Hard copies will be sent Bank to Bank via bonded courier in
seven (7) banking days thereafter.
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