Circular Letter 4/2016
 
Secured Email RWA First against new BCL Verbiage
 
 
Provider will send you RWA to issue BG or SBLC FIRST
 by bank to bank Secured Email
 IF YOU SEND BCL OF OUR REQUIRED VERBIAGE
 
Most of the clients want MT799 first from the PROVIDER. But all Providers refuse to do so.
 
Secondly, most of the client banks usually refuse to send BCL through MT799 FIRST without any initiation through Provider Bank First. Again all Providers refuse to do
 
Under our new Procedure, Provider will send you RWA to issue BG or SBLC first by bank to bank Secured Email. It is possible if your bank is prepared to send us BCL of the Verbiage as given in the Appendix A below through your bank's Top Correspondent Bank.
 
Kind Regards,
Hussain Khan, M. A., Tokyo
Skype ID:hkhanjp
 

APPENDIX A

Bank Confirmation Letter

 

Date:            April ...., 2015

To:               --------------------------

Reference:    SBLC or BG Transaction

 

 

                                      

                                           BANK COMFORT LETTER (BCL)

Dear Sirs,

 

We, -----------------------------, at -------------------------------------, as per instructions of our client, ----------------------------------------, hereby confirm with full banking responsibility that our client herein-referenced Account Holder, --------------------------------------, as of JAN___, 2016, has, on deposit, in the Account Number ----------------- cash funds /Credit line in the total amount of EURO xxx, 000,000.00 (XXXXX Million Euros)-12% OF FACE VALUE. 

 

Further, we confirm that the funds are legally owned by our client herein-referenced Account Holder, ------------------------, of good, clean and non-criminal origin and that they are unencumbered and freely disposable. We confirm that our Account Holder has full custody over the cash funds in their account and the funds shall remain reserved under their exclusive instructions.

 

We are Ready, Willing and able to receive your RWA Letter by Secured Bank Email confirming your capability of delivering Standby Letter of Credit with a face value of xxx,000,000.00 (One Hundred Million Euro). We have been instructed by our client, ----------------------, upon receipt your RWA Letter by Secured Email, to confirm via MT-799 the funds are reserved as the payment for Standby Letter of Credit against the SWIFT MT-760 delivery.

 

We do hereby authorize the recipient Bank Officer to confirm with our Bank, (Receiving Bank Name), at (Address), and the undersigned officers on a bank-to-bank basis, the availability and authenticity of this Bank Comfort Letter.

 

FOR AND ON BEHALF OF -----------------------

.....................................                                             .....................................

Bank Officer No. 1                                                      Bank Officer No. 2

PIN / Title                                                                 PIN / Title

                                    / Bank Stamp /

 

 

DESCRIPTION OF BANK INSTRUMENT :

 


Instrument Type:

Bank Guarantee or Standby letter of Credit (SBLC), Cash Backed

Lease Price

 

12% (+4%

Total Face Value:

Minimum 100M Euros R & E

1St Tranches

 Minimum 100M Euros

2Nd Tranches

 

3Rd Tranches

 

4Th Tranches

 

Currency:

 

Issuing Bank:

AAA RATING BANK

Validity:

One  (1) Year and  One  (1) Day with Rolls and Extension

Payment Schedule:

Within Five (05) Banking days after verification and authentication of the Swift MT760, the Provider will receive 12 % of the Face Value.

Delivery Bank:

Swift Mt760 & Original Hard Copy By Bank Bonded Courier

Payment Mode:

MT103 or Bank Wire – After verification and authentication of Instrument

Transaction Procedure:

Lessee submits duly sign LOI on Letterhead with full Banking Coordinate with below compliance documents include:

 

1.1 Letter of Intent/Contract (LOI)

1.2 Client Information Sheet (CIS)

1.3 Corporate Resolution (CR)

1.4 Non-Solicitation Statement (NS)

1.5 Non-Circumvention and Non-Disclosure Agreement (NCND)

1.6 Irrevocable Master Fee Protection Agreement (IMFPA)

1.7 Lessee Signatory and Color Copy of Passport

1.8 Lessee Certificate of Incorporation (COI)

1.9 Bank Confirmation Letter or Bank Acceptance Letter (Appendix A)

 

2. After Successful Due diligence, Provider countersigns the LOI. The Signed LOI becomes Legal binding Commercial Contract (agreement) between the parties. Both parties shall lodge the agreement in their respective banks.

 

3. Within Two Banking days , Provider ‘s bank shall issue RWA (Appendix B) by Bank Email to Receiving Bank and Corporate Invoice to Lessee Email ID: ……………………..

 

4. Within Two (2) Banking days of receipt of the RWA Email and Corporate invoice, Lessee bank shall issue Two Irrevocable Conditional Bank Pay Order (ICBPO) or Payment Undertaking (PU) OF 12% Via MT 799 as per (Appendix D) send  a copy to Provider’s email (----------------------------).

 

6. Within Two (2) days after Provider’s bank receive and authenticate Irrevocable Conditional Bank Pay Order´s (ICBPO) or (PU) Via MT 799, Provider’s bank shall issue MT 760 as per (Appendix E)  to Lessee  bank coordinate and send a copy to Lessee email. (-------------------------------------)

 

7. Within Five (4-7) banking days upon successful verification and authentication of the MT 760, Lessee bank shall issue Total Payment of fee 12 % as per contract by  MT 103 unconditional payment to Provider’s designated accounts and send a copy to Provider email (--------------------------------) and commission also.