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:         BLOCKED FUNDS MT799
  • Total Face Value:         €$1Million to 1Billion
  • Issuing Bank:                HSBC BANK /Barclay‘s/ Deutsche Bank
  • Price/ Commission:     4% of Full Face Value + 2% commission
  • Payment:                       LESSEE Pay For Bank Charges First, PROVIDER’S Bank Send Swift MT799

Transaction Procedure

“Lessee also referred as the Buyer” submits Compliance info for Due Diligence:

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

1.   PROVIDER will request compliance info from LESSEE to complete Due Diligence. If satisfied, PROVIDER will approve the bank operations and send the MOU and/or Deed of Agreement, (DOA) to the LESSEE.

2.   LESSEE executes, sign and initial the Deed of Agreement with a copy passport, company’s resolution, certificate 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 begins the process of Collateral Assignment/Reassignment to Lessee’s name; and authorize the Issuer bank to transfer and allocate Collateral Rights to Lessee name. Upon approval copies are sent to both parties for confirmation.

4.   Within 2 banking days, PROVIDER sends signed, sealed, and endorsed Corporate Refund Undertaking Letter and Invoice to the Lessee, guarantying to refund to the Lessee any cost incurred by Lessee, (admin/transmission costs) in the event of failure of PROVIDER to deliver their obligations in line with contract terms.

LESSEE initiates payment by direct wire transfer to the PROVIDER’S Bank coordinates, before issuance of the MT799 BLOCKED FUNDS via SWIFT Network.

5.   Within 2 banking days after confirmation of receipt of the bank transmission charges for sending the bank instrument; PROVIDER instructs their bank issuer to commence the bank operation.

6.   Within 2 banking day, PROVIDER’S issuer bank sends SWIFT MT799 to LESSEE bank (Beneficiary bank); and send copies to LESSEE for confirmation. Upon confirmation of the MT799 by LESSEE’S bank; Lesse pays 4% of Leasing Fees or agreed Lease Fees to PROVIDER.

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

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 BLOCKED FUNDS via SWIFT MT799 as indicated and in line with contract terms, will result to a financial compensation of up to 1% of instrument value paid to Lessee and refund of Transmission/ Handling fees paid. Failure of Lessee to perform any duty or obligations will result to cancellation of operation and or 1% financial penalty.

BLOCKED FUNDS SETUP, ADMIN/TRANSMISSION CHARGES TO ISSUE MT799

BANK TRANSMISSION FEE FOR USD/EUR >1M     TO USD/EUR 60M   IS USD/EUR   10,000.00
BANK TRANSMISSION FEE FOR USD/EUR >61M   TO USD/EUR 150M  IS USD/EUR   15,000.00
BANK TRANSMISSION FEE FOR USD/EUR >151M  TO USD/EUR 400M  IS USD/EUR   25,000.00
BANK TRANSMISSION FEE FOR USD/EUR >401M  TO USD/EUR  1B       IS  USD/EUR   50,000,00
BANK TRANSMISSION FEE FOR USD/EUR >1B       TO USD/EUR  3B         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.