3.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.
 
  • Instrument Type:   STANDBY LETTERS OF CREDIT /SBLC/ Cash Backed
  •                                  BANK GUARANTEES /BG’S/ Cash Backed
  • Total Face Value:   €$1Million to 10Billion
  • Issuing Bank:   HSBC BANK /Barclay‘s/ Deutsche Bank
  • Price/ Commission:   6% of Full Face Value + 2% commission
  • Paymente:   LESSEE Pay For Bank Charges First, PROVIDER’S Bank Send Swift MT799 and MT760.
  • Hard Copy:   Provider’s bank  will send hard COPY BY Bonded Courier within 7 banking days.
  • Bank Charges:   Refundable within 14 days after completion

Transaction Procedure

1.   PROVIDER will send application form to LESSEE. LESSEE will go through the Deed of Agreement and if happy with the transaction procedure, LESSEE  fill out the form and send back within 24hrs. PROVIDER will carry out due diligence based on information on the application form, once it comes back okay, PROVIDER  will now approve the transaction and a copy of the  form will be sent to  the LESSEE.

2.   LESSEE executes, sign and initial the Deed of Agreement with a copy passport, company’s resolution and Client’s Information Sheet (CIS) and send it back to PROVIDER, PROVIDER countersigns it with a copy of representative passport and company’s registration certficate which thereby automatically becomes a full recourse commercial contract and a copy sent to LESSEE.

3.   PROVIDER sends signed and sealed Corporate Refund Recourse Undertaking letter with the Invoice, LESSEE will make payment by direct wire transfer to the PROVIDER’S Bank cordinate for  the receiving of the bank transmission/Adminstrative charges to send the MT799 and MT760 by Swift.

4.   Within 3 banking days after confirmation of receipt of the bank transmission charges for sending the bank instrument pre-advice via Swift MT799 and MT760, within 2 banking days, PROVIDER’S issuing bank sends Swift MT799 and copy to LESSEE for confirmation.

5.   Within 2 banking days, the PROVIDER’S Bank deliver the BG by SWIFT MT760 to the BUYER’S Bank. Upon confirmation of the MT760 by LESSEE’S bank, Lesse pays 6% of leasing fee  before PROVIDER’S bank will  send the hard copy of the BG through bank bonded courier within 7 banking days .

6.   Within 3 banking days, after PROVIDER confirms the 6% in their account, PROVIDER’S bank will deliver the hard copy to LESSE’S bank by bank bonded courier service.

7.    Upon completion of the transaction. Which is between 5-14 banking days, the bank charges shall be refunded back to LESSEE’S  bank account.

8.   Any unauthorised calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.

9.    Failure of Provider to issue Bank Collateral Services, Swift MT760 as indicated and in line with contract terms, will result to a financial compensation of upto 1% of instrument value paid to Lessee and refund of Transmission fees paid. Failure of Lessee to perform any duty or obligations will result to cancellation of operation and or fifnancial fee.

BANK TRANSMISSION/HANDLING FEES TO SEND MT799/MT760

BANK TRANSMISSION FEE FOR USD/EUR >1M     TO USD/EUR 50M IS USD/EUR     45,000.00
BANK TRANSMISSION FEE FOR USD/EUR >60M   TO USD/EUR 100M IS USD/EUR   75,000.00
BANK TRANSMISSION FEE FOR USD/EUR >101M TO USD/EUR 600M IS USD/EUR   100,000.00
BANK TRANSMISSION FEE FOR USD/EUR >601M TO USD/EUR 2B      IS  USD/EUR  200,000,00
BANK TRANSMISSION FEE FOR USD/EUR >2B      TO USD/EUR 10B     IS USD/EUR   300,000.00
THE BENEFICIARY MUST TO PROVE THAT THEY CAN AFFORD THIS OPERATION BY PAYING FOR THE SETUP FEES. UPON COMPLETION OF THE TRANSACTION. WHICH IS BETWEEN 5-14 BANKING  DAYS, THE BANK CHARGES CAN BE REFUNDED BACK TO BENEFICIARY BANK ACCOUNT.