2/ Leasing SBLC with up front fee
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Instrument Type |
BG/SBLC |
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Total Face Value |
AMOUNTS IN EITHER – USD/EUR: |
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Issuing Bank |
HSBC/ BARCLAYS / DEUTSCHE BANK AG / STANDARD CHARTERED / other World Top 25 banks. |
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Selling Fee |
36% of Full Face Value (6% of Full Face Value- In case of Lease) + 2% brokers commission to be shared 50-50 as specified here below. |
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Payment |
1/ After DOA is signed, Provider sends signed DOA in PDF form, invoice and refund undertaking letter.
2/ Within Two Banking days of receiving copies of the final Deed of Agreement, Invoice and Refund undertaking, Receiver pays the Liquidation and bank auditors handling charges and sends the transfer confirmation copy to Provider for his confirmation
2/ MT799 and MT760 will be issued to Receivers designated Account immediately after Providers confirmation of the bank handling charges paid via MT103.
3/ Provider sends swift copies of the MT799 and MT760 to the Receiver.
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Hard Copy
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Bonded Courier within 7 banking days. Refundable within 30days.
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Bank Charges |
See as below
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PROCEDURES:
- Provider and Receiver sign the Deed of Agreement, which thereby automatically becomes a full recourse commercial contract after the Provider has accepted Receiver’s application.
- Within Two banking days after both parties sign the Deed of Agreement, Provider submits the Deed of Agreement to their bank, Provider also sends a copy of the signed Deed of Agreement, Invoice, Refund undertaking letter to Receiver.Receiver also submits the Deed of Agreement to their bank
- Within Two Banking days of receiving copies of the final Deed of Agreement, Invoice and Refund undertaking, Receiver pays the Liquidation and bank auditors handling charges and sends the transfer confirmation copy to Provider for his confirmation.
- Within Three banking days after confirmation of the Liquidation and Auditors bank handling charges, Providers Bank sends the swift MT799 and the MT760, the MT760 can be send on the same day or on the next day.
- Provider sends copies of the swift MT799 and MT760 to Receivers for confirmation.
- Receiver pays the broker fees within two banking day of receiving the MT760. Providers Bank sends Hard copy of the BG or SBLC within Seven banking days to Receiver bank by bonded courier.
- Receiver pays to Provider all fees due within Twenty-One Banking days after Hard copy of MT760 is delivered
- Should Receiver default to pay according to as agreed in the Deed of Agreement, the Provider will instruct the Issuing Bank to put a claim on the BG or SBLC thereby forcing the Receiver’s Bank to return the BG or SBLC by SWIFT MT760 to the Issuing Bank.
- After Thirty banking days Provider will refund back to Receiver the Liquidation and auditors bank handling charges to Receivers provided account.
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LIQUIDATION OF BLOCKED CASH ASSET AND EXTERNAL AUDITORS’ FEES FOR FRESH CUT BG/SBLC (MT799 AND MT760). |
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Liquidation/external auditors’ fees for 1M to 50M is USD/EUR 35,000.00 |
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Liquidation/external auditors’ fees for 51M to 100M is USD/EUR 65,000.00 |
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Liquidation/external auditors’ fees for 101M to 250M is USD/EUR 100,000.00 |
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Liquidation/external auditors’ fees for 251M to 500M is USD/EUR 150,000.00 |
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Liquidation/external auditors’ fees for 501M to 1B is USD/EUR 250,000.00 |