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BG/SBLC Procedures Draft.....Only for real client...If your client don't have SRA Lawyer in UK to stand for him,

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Martin MD | 17 Feb 2017, 04:12 AM Agree 0

1. Instrument Type BG/SBLC
2. Total Face Value AMOUNTS IN EITHER - USD/EUR
3. Issuing Bank BNP Paribas, Deutsche Bank Frankfurt, Commerzbank Switzerland or Credit Agricole.
4. Selling Fee 13% of Full Face Value- In case of Lease + 2% commission to be shared 50-50 as specified here below.
5. Payment After DOA is signed, Receiver/ Client deposits fee amount into escrow and instructs his SRA regulated Law Firm to issue Fee Undertaking Letter to the Law Firm of the collateral Provider. This fee is only requested from their lawyer once the clients receiving bank has verified and confirmed the receipt of the MT799/760 "the instrument". (13% of Full Face Value - In case of Lease) + 2% commission.
MT799 and MT760 will be issued to Receivers designated Account immediately after Providers Law Firm confirmation of the Receiver’s Law Firm PAYMENT UNDERTAKING LETTER.
Provider’s Issuing bank sends SWIFT RWA MT799 to the Client’s Receiving Bank; Client’s Receiving bank confirms/verifies; Issuing bank issues SBLC/MT760 via SWIFT To Receiving Bank; Receiving bank verifies/confirms;
Receiver/client instructs Law Firm to release the MT103 PAYMENT for the benefit of the Provider.
6
7 Hard Copy
Bank Charges
Bonded Courier within 7 banking days.
NA


PROCEDURES OF COLLATERAL PROVIDER:


1. Client complete and return our KYC / CIS document.

2. Collateral Provider/compliance, review and approve client for acceptance. After acceptance, Collateral Provider send draft DOA.

3. After execution of the Introduction and Advisory Agreement, Client instructs his SRA regulated Law Firm to issue Fee Undertaking Letter to the Law Firm of the collateral provider.

4. Issuing bank sends SWIFT RWA and then bank officers conduct a bank to bank telephone call (if required by recipient bank).

5. Issuing Bank issues a pre-advice via bank SWIFT MT799, as prescribed in the contract, to the client’s receiving bank.

6. On receipt of the MT799 by the Receiving Bank, Receiving Bank will confirm acceptance and verification by SWIFT to the Issuing Bank.

7. Following receipt of the MT799 from the Receiving Bank, the Issuing Bank will issue the SBLC via bank SWIFT MT760 as prescribed in the contract to the Receiving Bank.

8. Upon receipt of SBLC/MT760 by the Receiving Bank, the Receiving Bank will confirm acceptance and verification by SWIFT to the Issuing Bank.

9. After the above are completed, and evidenced by the Issuing Bank, client instructs Law Firm to invoke the Fee Undertaking and transfer the fee as described in the undertaking.

10. Following transfer of the fee as defined by the Undertaking, the Collateral Provider Law Firm will confirm receipt of the fee and the procedures close.

Procedural Overview /Explanation below again.

- The client/applicant needs to sign and return our Client Information Sheets (CIS) and provide a Proof of Capability that they are able to pay the 13% & 2% commission fees.

- Then the client/applicant must deposit the fee into 'their' own SRA regulated lawyers client account in London and their lawyer sign an undertaking letter to pay the fee. This pre-deposited fee is only requested from their lawyer once the clients receiving bank has verified and confirmed the receipt of the MT799/760 "the instrument"

Once an applicant/client has begun the application process, there is a provable transaction track record upon request as many instruments have been issued and monetised, therefore we know that these instruments are able to be closed successfully.


They issue instrument SBLC from Credit Agricole Suisse, which is number 4 European strongest bank. http://www.relbanks.com/top-european-banks/assets

The Collateral Provider can also issue from Commerzbank Germany, Deutsche bank, BNP Paribas.

We are mandate to provider Executive Director.

Martin MD
Compliance Mandate
Email: mar.zfmc@outlook.com or martin@zfmc.co.uk
Skype ID: mar.zfmc@outlook.com
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