1. The sender shall advise the DATE of KTT MT 199 Pre-Advise transmission in advance.
Copy of the verbiage below.
2. The Receiver's bank responds to the Sender's Pre-Advice by KTT 199.
3. The sender sends the MT103 KTT message to the Receiver's bank.
4. On the same day, immediately afterwards the sender will transmit the Copy via Email of the Telex KTT MT103/202 transfer slip receipt to Receiver's bank officer email address TBA:
5. The Receiver's bank responds (or confirms) that the MT103 message by KTT was received.
6. The Sender sends MT202 Cover Payment KTT message to the Receiver's bank.
7. The Receiver's bank responds to the MT202 Cover Payment message by KTT that funds are on deposit in the Receiver's bank account.
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...
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