PROCESS OF MONETIZATION

 

(1). The client completes and returns the Client Information Sheet (CIS) ~ if you do not have, we will send a CIS to you. A scan clear color copy of the applicant's passport, a screenshot of the front and back of the instrument, authorization to verify, corporate resolution, certificate of incorporation, and other required documents.

 

(2). Our lender’s compliance office will execute Due Diligence (within 72 hours) upon receipt of those above documents. If a client’s compliance is approved, the lender or his representative will confirm the same by sending an email.

 

(3). A lender will forward a contract to the client for review.

 

(4). If the client approves of the terms of the contract, return the signed copy to our Lender and instruct your bank to SWIFT the instrument to our Lender’s bank (Lender will give coordinates to receive SWIFT MT760 in the loan contract). We will only do a transaction with Swift Transmission. NO screen to screen.

 

(5). Lender’s bank upon receipt of the BG / SBLC will verify, authenticate and confirm it.

 

(6). A lender will disburse trenches and full payment within 15 days to the client.

 

About the requirements, we will need the following documents:

 

Client Information Sheet + Passport Copy, accompanied with BR & ROC (Board Resolution & Registrars of Companies cert.) since it has to be a corporate client. This is compulsory.

 

Full documentation of the bank instrument (BG / SBLC). A scan clear color copy of the instrument or screenshot showing the ISIN number (if applicable) and if the instrument is registered on Euroclear and or Bloomberg ~ it is always very helpful.

 

If the instrument has not been issued ~ we need the Authorization to verify the asset backing the instrument and a Proof of asset (if available). We will check all the documentation and if necessary, we will look it via Bloomberg. We will not do it via Screen to Screen.

 

We will need the Swift MT799 and Swift MT760 verbiage sanctioned by the issuing bank and some key documents relating to the uses of the loan.

 

Other questions that our Lender would need to have clarified is ~ if the owner of the bank instrument is RWA (Ready, Willing and Able) to send first a SWIFT MT 799 to be followed by a MT 760 for going through with the transaction. We will not do Screen to Screen check.

 

* The next question to follow will be ~ what is the name and location of the BG / SBLC issuing bank?

*  If the BG / SBLC has been issued and is in custody of another bank, which bank is the present custodian of the instrument that will be sending the MT760?

 

Please note that it is a quality sign for our Lender if the instrument ~ from the client ~ will be delivered by a well-rated bank (preferably World Top 25) or AA rated bank.

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