4.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
  • Price/ Commission:   25% of Full Face Value + 2% commission
  • Total Face Value:   €$5Million to 30Billion
  • Issuing Bank:   HSBC BANK /Barclay‘s/ Deutsche Bank
  • Validity:   One (1) Year and One (1) Day
  • Payment Schedule:   Within Three (03) Banking days after verification and authentication of the Swift MT760, the Provider will receive 25% of the Face Value + 2% commission for Intermediaries /Brokers as stated in the “Fee Agreement”.
  • Delivery Bank:   Swift MT760 & Original Hard Copy By Bank Bonded Courier
  • Payment Mode:   MT103 or Bank Wire – After verification and authentication of SBLC

Transaction Procedure

Buyer submits Compliance info for Due Diligence:

  • Client Information Sheet (CIS)
  • Corporate Resolution (CR)
  • Non-Circumvention and Non-Disclosure Agreement (NCND)
  • Company info; Colour Copy of Passport

1.   PROVIDER requests above compliance info to conduct Due Diligence. Buyer submits above info or attach them to DOA and sends back to PROVIDER.

2.   Upon successful checks with Underwriters; PROVIDER approves the bank operations and sends an MOU and/or countersigned Deed of Agreement, (DOA) to the BUYER, with PROVIDER’s full corporate and bank Info; Agreement automatically becomes a full recourse commercial contract.

3.   Within 2 days of receiving the signed contract, the Buyer shall instruct the receiving bank to issue “Bank Comfort Letter” to the Issuer’s designated bank OR to Provider.

4.   PROVIDER initiates the process of Security Registration/ Title transfer to BUYER’s name; Upon approval copies are sent to both parties for confirmation.

5.   At same time, PROVIDER sends, endorsed Corporate Refund Undertaking Letter and Invoice for (Bank Transmission costs) to the BUYER, guarantying to refund to the BUYER any cost incurred by BUYER, in the event of delay or failure of PROVIDER‘S to deliver their obligations in line with Agreement terms.

BUYER makes payment by direct wire transfer to the PROVIDER’S Bank Coordinates, for the Transmission charges to MT760 via Swift Network.

6.   Within 1 banking day after confirmation of receipt of the Bank Transmission charges for sending the bank instrument; PROVIDER instructs their bank issuer to commence the bank operation. PROVIDER/Issuer bank reconfirm BUYER bank coordinates.

7.   Within 1 banking day, PROVIDER auhthorises issuer bank to send SWIFT MT760 to BUYER bank (Beneficiary bank); and send copies to BUYER for confirmation. Upon confirmation of the MT760 by BUYER’s bank; Buyer pays 25% Purchase Fees plus other agreed Intermediary fee.

8.   Within 3 banking days, after PROVIDER confirms the Purchase fees in their account, PROVIDER’S bank will deliver the HARD COPY to BUYER’S bank by bank bonded courier service.

9.   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.

Bank Transmission/ Guarantee Registration Fees to send MT760 Guarantee

BANK TRANSMISSION FEE FOR USD/EUR 5M       TO USD/EUR 50M     IS USD/EUR     70,000.00
BANK TRANSMISSION FEE FOR USD/EUR >50M   TO USD/EUR 100M  IS USD/EUR   110,000.00
BANK TRANSMISSION FEE FOR USD/EUR >100M TO USD/EUR 500M  IS USD/EUR   150,000.00
BANK TRANSMISSION FEE FOR USD/EUR >500M TO USD/EUR 1B        IS  USD/EUR  250,000,00
BANK TRANSMISSION FEE FOR USD/EUR >1B      TO USD/EUR 3B          IS USD/EUR  400,000.00
BANK TRANSMISSION FEE FOR USD/EUR >3B      TO USD/EUR 5B          IS USD/EUR  CALL TO REQUEST
BANK TRANSMISSION FEE FOR USD/EUR >15B    TO USD/EUR 30B        IS USD/EUR  CALL TO REQUEST
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.