Product Disclosure Bank Securities

The Bank offers 2 types of SBLC, briefly summarized below:

(a) Non-Financial SBLC (ICL’s SE2 Package)

• Non-Financial SBLC are performance related Issued in support of the Customer’s fulfilment of a contractual obligation in accordance with the terms and conditions of an underlying contract or agreement.

• It provides an assurance of compensation in the event of inadequate or delayed performance on a contract.

• Performance related contingencies typically involve a counterparty’s failure to fulfil or perform contractual obligations such as delivery of goods and/or services or payment of the same by a specified date.

(b) Financial SBLC (ICL’s BS1 Package)

• Issued in support of the Customer’s undertaking to secure the repayment of a debt or liability.
• Is a SBLC of indebtedness (loans, securities and any other financial liabilities and obligations)
• Has a flavour of direct extension of credit such as an undertaking to make payment to a third party in the event that a counterparty fails to meet a financial obligation

Financial SBLC can also take the form of credit substitution SBLC.

 

If you are applying for a Financial SBLC under ICL’s BS1 Package, you have to clear the BS1 Package fee of £ 9,999.00 in advance after the initial “Service Level Agreement (SLA)”. The Fee will be guaranteed by transaction insurance covering the SLA. The transaction Insurance is issued within 72 Hours of the receipt of the BS1 Package Fee. The Lease / Purchase Fee for the SBLC has to be cleared within 15 Days after the receipt and verification of the MT760 SWIFT at the receiving Bank.

If you are applying with Non-Financial SBLC under ICL’s SE2 Package, you have to clear the SE2 Fee of £ 999.00 and submit all the documents relating to the trade transaction. The SBLC under this package is non-transferable, non-divisible, non-renewable etc. The client has to clear the Lease / Purchase fee within 10 Days after the receipt and verification of the MT760 SWIFT at the receiving bank.

 

#ICL offers 2 additional services for the clients who have applied for SBLC under ICL’s BS1 Package.  The client can choose to Monetize or Trade the SBLC though ICL’s Platform.

Conditions for the Trade or Monetization:

1. The SBLC must be issued through ICL’s BS1 Package.
2. The Face Value of the SBLC must be above 100M
3. You must be prepared to provide all relevant documents for the transaction.

Program Profits

1. 1. 1. For Purchased SBLC
         1. Monetization: We offer about 90% of the Face Value as non-recourse loan to the client. The Instrument is cancelled at the end of the term. The issuance and monetization take about 14 Banking Days.
         2. Trade: We offer about 300% of the Face Value as trade profit in instalment of 42 Weeks. First Instalment is issued on the 15^th Day from the issuance and then weekly. The Instrument is cancelled at the end of the term.
      2. For Leased SBLC
         1. Monetization: We offer about 80% of the Face Value as non-recourse loan to the client. The Instrument is returned at the end of the term. The issuance and monetization take about 14 Banking Days.
         2. Trade: We offer about 200% of the Face Value as trade profit in instalment of 42 Weeks. First Instalment is issued on the 15^th Day from the issuance and then weekly. The Instrument is returned at the end of the term.