Circular letter 9/2016 dated July 10, 2016

 

NEW BANK TO BANK, NO UPFRONT FEE PROCEDURE FROM SMALL AMOUNTS OF ONE MILLION TO FIFTY BILLION

 

3. RWA bank confirms client is capable of funds  

  Please find information below so it is clear for the client and anyone else.  

  Here is the format for RWA on clients bank letterhead and issued from their bank officers;  

  " FIRST LETTER FROM BANK ADDRESSED TO LESSEE/BUYER (Receiver) ON BANK LETTERHEAD  

   Dear Sirs  

  This is to kindly inform you that we (company name and authorised person) will send the ICBPO OR PAYMENT GUARANTEE of X % of face value of Euro/USDXXXXXXX (value written in words), to the Providers cash assets backers nominated account.  

The ICBPO OR PAYMENT GUARANTEE MT799 willl be valid for 90 days and will be in the name of your Providers cash assets backers. We understand once payment is made in full and accepted to the Provider and the consultants the ICBPO mt799 will be cancelled and returned immediately.  

Once we have sent the the ICBPO OR PAYMENT GUARANTEE out, we expect the providers issuing bank to then send an MT799 Per advice followed by mt760. "  

   

 

TRANSACTION DESCRIPTION:

1.         Instrument:                 Bank Guarantee (BG) / Standby Letter of Credit (SBLC)

2.         Total Face Value:       Minimum Euro/$ 1,000,000 (One Million to Fifty Billion)

3.         Issuing Bank:              Barclays Bank London, HSBC London, Deutsche Bank Frankfurtor as advised

4.         Age:                            One Year and One Day (With the option contract, of Rolls and Extension)

5.         Lease Fee:                   Based on the Face Value of SBLC Plus (8% + 2% + 2%) Commission, plus all rolls, extensions and additions thereafter.

            Purchase Fee:              Based on the Face Value of SBLC plus (37% + 2% + 2%) Commission, plus all rolls, extentions and additions thereafter.

6.         Delivery:                     Bank to Bank Swift MT799 and/or MT760

7.         Payment:                     MT103

8.         Hard Copy:                 By Bank Bonded Courier within 7 banking days after delivery of Swift.

 ;

 

TRANSACTION PROCEDURE:

• Provider’s side sends DOA for buyer to complete in full with supporting Coporate Undertaking letter and verfiable RWA buyer’s bank letter confirming the buyer has financial capacity and the bank is ready to issue bank undertaking of the required amount.


In the event of non-performance (including delays or delivery of Bank Undertaking or any payment demand) to pay to the Provider and to the respective Consultants 1.0% for provider and 0.5% for involved consultants (one and a half percent) of the face value of instrument. Timing is adhered to from both parties in the transaction.

 

• Receiver sends back completed documents as requested.

 

• After successful verfication of agreement, (at Provider’s discretion) coporate undertaking and RWA from buyer’s bank, from Provider’s own due diligence and satisfaction, the Provider executes in the DOA in full, signs and initials advised Deed of Agreement, which thereby automatically becomes a full commercial recourse contract to be lodged by both partiesfor initiation of the Swift Transmission.

 

The Receiver provides a corporate letter of undertaking confirming they have set aside commission fees of 1.0% for sell side and 1.0% for buy side consultants (total Two Percent of face value) of the face value () of the SBLC requested. 

 

• Within three (3) working days after the Receiver receives contract documents, the Receiver will send by direct Bank Undertaking Swift MT799 10% (Ten percent) of the face value into the Provider’s designated bank coordinates for the receiving of the Bank Undertaking MT799.

 

• Within Five (5) banking days after confirmation and acceptance of receipt of the Bank Undertaking from the receiver of the SBLC via Swift MT799 in Provider’s bank account, the Provider will deliver the SBLC via Bank to Bank confirmation MT799 followed by MT760 to the Receiver’s banker including the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days.

 

• Receiver paysfees of 8% by Swift MT103 to the Provider (Providers designated bank account) and 2% consultants commission fees (Consultants designated accounts) of total BG / SBLC Face Value by wire transfer within Three-Ten (3-10) banking days upon delivery, confirmation and verification of SBLC by MT760 in the Receiver’s nominated account and SBLC hard copy in the Receiver’s nominated bank.

 

• Provider confirms upon receipt of full payment is made by MT103, of fees of 8% to the Provider and 2% Consultant fees, the Bank Undertaking will be cancelled immediately and returned to Receiver’s bank.

 

• Any unauthorized calls made by any party or its representatives, lawyers to probe or communication in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.

 

* Should the Receiver default to pay the buyout fees to the Provider and Consultants commission fees as agreed within ten (10) banking days of confirmation of BG MT760 in Receiver's bank account, the Provider will instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Receiver's bankers to return the BG / SBLC MT760 to the issuing Bank.

 

* Any delay in or failure of performance by either party of their respective obligations under this agreement they shall pay 1% face value as penalty plus 0.5% fees for consultants.

 

Three Docs your client must send are: 

  

1. DOA 

  

2. Corporate Undertaking (penalty fee) - (This is not an upfront fee, we don’t do upfront. It’s just on the Client letterhead if they fail to perform they accept the penalty fee as on the DOA clause) 

  

3. RWA bank confirms client is capable of funds 

  

[SAMPLES BELOW] 

 

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Please find information below so it is clear for the client and anyone else. 

  

Here is the format for RWA on clients bank letterhead and issued from their bank officers; 

  

" FIRST LETTER FROM BANK ADDRESSED TO LESSEE/BUYER (Receiver) ON BANK LETTERHEAD 

  

 Dear Sirs 

  

This is to kindly inform you that we (company name and authorised person) will send the ICBPO OR PAYMENT GUARANTEE of X % of face value of Euro/USDXXXXXXX (value written in words), to the Providers cash assets backers nominated account. 

The ICBPO OR PAYMENT GUARANTEE MT799 willl be valid for 90 days and will be in the name of your Providers cash assets backers. We understand once payment is made in full and accepted to the Provider and the consultants the ICBPO mt799 will be cancelled and returned immediately. 

Once we have sent the the ICBPO OR PAYMENT GUARANTEE out, we expect the providers issuing bank to then send an MT799 Per advice followed by mt760. " 

  

 

===            ===            ===            === 

  

 

" SECOND LETTER ON COMPANY LETTERHEAD FROM BUYER ADDRESSED TO PROVIDER () 

  

This is to inform you that if in the event I/We (company name and authorised person) do not issue the ICBPO mt799 on time according to the DOA, I will immediately remit the 1% of the face value of BG/SBLC penalty charge into Provider's nominated account and 0.25% to the consultants nominated account, before Provider proceeds to issue the MT760. 

I can confirm that we (company name and authorised person) have the 1.25% penalty charge in my possession currently. " 

  

Kind Regards,

Hussain Khan, M. A., Tokyo

Skype ID:hkhanjp

www.bg-sblc.com 

http://pakmarineltd.com/

 

You can find out further information about me by putting my name, “HUSSAIN KHAN, TOKYO”, in Google, or YouTube or Amazon or Linkedin Search Engines 

http://www.dawahislamia.com/ 

http://www.dawahislamia.com/complete-para30-with-detailed-japanese-explanation.php