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Date: Fri, Jun 28, 2013 at 1:40 PM
Subject: Monetization of BG’s/SBLC’s
To: Jeff Allen <ir>
Hi Jeff, sorry for the deal in getting this info to you…
let me know if you have any questions or have clients with deals you want to run by me…
We can provide a 13 month non-recourse loan (no-payback) on
(a) unencumbered (no debt) or unsubordinated cash accounts,
(b) certificate of deposits, (c) bank drafts, (d) Sovereign guarantees,
(e) bank guarantees, (f) standby letter of credit,
(g) medium term notes, (h) and/or DTC/Euroclear financial instruments.(*)
Non-recourse loan (no payback) can be anywhere between 15% to 90% net to account/title holder, subject to structure of transaction -Bank Instrument (owned or leased) ICBPO – bank to bank undertaking and availability.
Securing client collateral account may include MT799/MT760, DTC/Euro pull down, subject to bank to bank acceptable scenario.
To proceed we require the following documents from you:
1. NCND (attached)
2. CIS (attached)
4. Confirmation of ASSET: (please select what applies to your transaction)
a) If instrument has NOT been issued (Fresh Cut) than please provide an RWA from issuing Bank and account statement showing ability to make application
b) If instrument is leased – provide copy of final/signed contract with provider
c) If you have a BG/SBLC (Issued), you must send a copy of the BG/SBLC and account statement/ custody receipt where on account
d) If instrument has been issued and SWIFTed to bank other than issuing bank- send copy of SWIFT received by current bank stamped by banker
e) If you wish to purchase/ lease a BG/SBLC we must see Proof of Funds, in the form of a bank letter signed by a bank officer or a bank tear sheet which is less than three days old.
f) ATV- authorization to verify instrument (this is issued by client but lodged with banker)
5. Request for Services Letter: (attached) this letter describe the transaction in detail
***The Monetization program can be suited to just about any instrument as long as it is on delivered SWIFT MT760
After ALL documents are submitted and reviewed we will send a Joint Venture/ Consulting Agreement for acknowledgment –then the Monetization contract will be sent.
There are NO “BLIND SWIFTS” meaning there will be a call to the issuing banker- who YOU (the client/applicant) will direct the call to at the issuing bank via “ATV” (enclosed- this must be lodged with the banker as this letter will be referenced on the incoming call).
A Banker to Banker call between the Issuing Bank’s banker and the Monetizer’s Bank’s banker is required before SWIFTING begins…..
NON-RECOURSE PROCEDURES (instruments delivered SWIFT MT760)
ALL Calls will be made the following morning from when the complete package is submitted- I will advise you to the incoming banker and bank so you can advise your banker of same– the ATV/RWA/account statement will be used as reference
On the call the banker will ask if the bank is RWA to SEND the SWIFT on behalf of the client named in ATV letter- (see letter for details)
On this call, the Issuing Banker must state that their bank is RWA to send the instrument. On this same call, the Monetizer’s Bank’s banker will then confirm readiness to receive the MT-760 as well as the Monetizer’s capacity to fund the transaction. In addition, if required, an ICBPO can be sent by the monetizing Bank to the Issuing Bank to cover the leasing fees prior to the MT-760 being sent.
1) REQUEST FOR SERVICES LETTER
2) Submit CIS, Passport, Description of Instrument, copy of Instrument (if cash) and account statement/SKR-custody of instrument -if instrument has been issued and SWIFTed to bank other than issuing bank- send copy of SWIFT received by current bank stamped by banker, or verbiage (if Fresh Cut) and RWA from issuing Bank with REQUEST FOR SERVICES LETTER and Requested verbiage from provider- if this is NOT we will supply verbiage for the SWIFT
*****PAYMENT UNDERTAKING by FUNDING BANK – (BPO- ICBPO)….if you require the payment to the issuer for fees please confirm amount on request for services letter
2) After compliance- call with principal call
3) Client issues ATV- acknowledged by banker (sighed) and lodged (upon receipt – you will advise banker of incoming call (incoming call reference details)
4) Commercial finding agreement/ Contract
5) Bank to Bank verification (Issuing or Custodial bank to say they are willing to issue or send MT760)
BANKERS WILL DISCUSS DELIVERY PROCEDURES BANKER TO BANKER (and Payment Undertaking if necessary) for MT760 (it will be determined on this call if RMA is established between institutions) as well as the monetizer’s capacity to fund the transaction. In addition, if required, an ICBPO can be sent by the monetizing Bank to the Issuing Bank to cover the leasing fees prior to the MT-760 being sent.
6) MT799 Pre-advice from Client (if necessary)
7) MT799 RWA from Funder (if instrument requires bank undertaking for payment ICBPO will be confirmed bank to bank)
8) MT760 is sent from issuing bank to funding bank
9) Funds will be available within 48/72 hours of confirmation of MT760 (confirmation timing depends on if RMA between banks is established)
LTV ARE SUBJECT TO ISSUING BANK CREDIT, LANGUAGE OF MT760, CASH BACKED OR LEASED INSTRUMENT AND CLIENT COOPERATION
We have other credit partners that have different procedures depending on their credit and treasury agreements with their banking institutions.
…All Financial Instruments (Bank Undertakings) must be SWIFTed via MT 760, MT542 (with or without pre advice depending on RMA relationship between institutions) or if the instrument is listed on Euroclear, Clearstream or DTCC (free delivery) AND is owned by the client, it likely qualifies for this program.
… The monetization is offered both in a “recourse” loan (REPO) this is usually 20- 25% buy back over emission rate or a “non-recourse loan’ generally for 1 year and 1 day. Repurchase Option- The borrower does have the option to repurchase the financial instrument for the full face value of financial instrument 15 days prior to the due date of maturity.
THESE ARE NON-NEGOTIABLE PROCEDURES….
SEE ENCLOSED OVERVIEW FOR DETAILED PROCEDURES……(for clients)
PROCEDURES ARE SUBJECT TO CHANGE DEPENDING ON WHAT FUNDING PROGRAM IS AVAILABLE….
Incomplete Submissions will NOT be Reviewed or Acknowledged!
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GLOBALCROSSROADSCAPITAL.COM is an IR media firm and is not a funder, lender, investor, buyer, seller or broker-dealer. If you are interested and eligible for the above program you must be a client to pursue it. Procedures in becoming a contractual client are disclosed abundantly on our website & blogfeed. Start with the CONTACT page at the top of this blogfeed.
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