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.