Circular Letter 5/2016
 
Escrow Reduced to Euro 15K+5K or 35K+5K
to get MT799 Pre-Advice from the Issuing Bank
Then send ICBPO of 8% or remit cash 1% to get MT760
CONDITIONS TO REDUCE ESCROW TO 15K + 5K
 
1. Give Bank Statement of last 3 days
 
2. To get MT76o either issue ICBPO of 8% or Pay 1% cash after receiving and verifying MT799 Pre-Advice from the Issuing Bank
 
Escrow Receipient Jordan Attorney cannot be changed
 
(15 THOUSANDS EURO TO LAWYER ESCROW ACCOUNT with account statement) . (35 THOUSANDS EURO TO LAWYER ESCROW ACCOUNT WITHOUT ACCOUNT STATEMENT)
 
 

DESCRIPTION OF INSTRUMENTS

 

1

Instrument

BANK GUARANTTEE/ OR SBLC MT760  

2

Total Face Value

MIN 100 EURO - MAX 500 MILLION

3

Tranches

Minimum 100 MILLION USD/ EURO 

4

Issuing Bank

TOP WESTERN EUROPE BANK 

5

Age

One Year and One Day  

6

LEASE  Price

8+4 % of face value of instrument 

7

Delivery

SWIFT to SWIFT / 799 FIRST ( PRE-ADVICE )

8

Payment

By Wire Transfer  

9

Hard Copy

 

 

LEASE Price:

8+4%  EIGHT PLUS FOUR PERCENT

 

 

Beneficiary of BLOCKED FUND           (xxxxxxxxxxxxx)

Delivery Bank                                   (TOP 25 WESTERN EUROPE BANK)

 

  

Transaction Procedure: 

 

1.      RECEIVER shall execute, sign DOA WITH CIS, PASSPORT COPY AND ACCOUNT STATEMENT OF MIN 3DAYS.

2.      SENDER within 3 banking days after successfully DD will sign and sealed DOA and initial a Deed of Agreement which will automatically become full commercial recourse contract.

3.      Within TWO (2) banking days upon signed agreement by all parties, RECEIVER MUST TRANSFER (15 THOUSANDS EURO TO LAWYER ESCROW ACCOUNT with account statement) . (35 THOUSANDS EURO TO LAWYER ESCROW ACCOUNT WITHOUT ACCOUNT STATEMENT)

4.      Within three (3) banking days, SELLER SHALL SEND TO BUYER MT799 PRE-ADVICE FROM ISSUING BANK.

5.      Upon receipt and satisfactory verification of the SWIFT MT-799 Receiver has two options:

A-     Within TWO (2) banking days, the RECEIVER's bank sends the MT103 OF 1% OF FACE VALUE  to the SENDER....... OR

B-      Within Two (2) banking days, the RECEIVER’S bank issue MT799 ICBPO of 8% to Sender bank’s account

6.      Upon successful verification and authentication of the SWIFT MT-103 (1% OF FACE VALUE) or ICBPO 799,

SENDER will send the instrument BG/SBLC via MT760 .
 7.      Upon verification and authentication of MT760 ,
eceiver must pay 8% to the sender bank account and pay 4% to intermediaries within ( 5 ) banking days.