1.DESCRIPTION OF PROCEDURES

WORD FOR WORD AND NO CHANGES

Investments Company Limited of United Kingdom started in 1971 providing business and commercial funding through Private Investors. We are one of the leading private providers of bank instruments services for both institutional and individual clients.
 
MT103 one way Credit Enhancement,  for bank guarantee / credit guarantee  –  ( same as Guarantee )
 
  • INSTRUMENT TYPE:  MT103 VIA SWIFT ONE-WAY
  • ISSUING BANKS:   HSBC, BARCLAYS OR OTHER AAA RATED BANK
  • TOTAL NOMINAL:  €1,000,000,000.00 (ONE BILLION EURO) WITH R&E
  • FIRST TRANCHE:   €500,000,000.00 (FIVE HUNDRED MILLION EUROS)
  • INVOICE PRICE:     8% (EIGHT PERCENT) FROM INSTRUMENT’S NOMINAL VALUE
  • COMMISSION FEE: 4% (TWO PERCENT) OF TOTAL FACE VALUE, WITH SHARE 50:50 TO THE BOTH PARTIES SIDE CONSULTANTS
  • PAYMENT:   WIRE TRANSFER
  • DURATION OF PAYMENT:  WITHIN 3 (THREE) BANKING DAYS UPON INSTRUMENT’S SWIFT MT103 RECEIVE AND AUTHENTICATION ON INTERBANK SCREEN

PROCEDURES :

1.   Provider and beneficiary execute, sign and initial a deed of agreement which thereby automatically becomes a full commercial recourse contract after beneficiary application have been accepted.

2.   After signing the agreement and simultaneously with the return of the agreement to the beneficiary. Beneficiary bank shall provide a bank payment undertaking letter to guarantee the issuance fee and to also confirm availability of a credit line.

3.   Upon receipt and validation of the beneficiary bank payment undertaking letter, within (72hrs) provider shall instruct the sending bank to issue the swift mt103 message (one way) in the amount of €00 ,000,000 (xxxx xxxx million euro) to the beneficiary’s receiving bank.

4.   Within (72) hours, of the beneficiary’s bank receipt of a positive delivery of the swift mt103 message (one way) on their bank, the beneficiary’s bank shall release the 8% of the swift mt103 message face value by mt103 bank wire transfer to the provider nominated bank account and confirm satisfaction to provider bank making the conclusion of the delivery of the first tranche.

5.   The beneficiary bank shall also effect [2%] commission payment to all the identified intermediaries according to the fee protection agreement attached without delay or withholding, including all rolls and extensions.