1.PARTY A – THE (SENDER) and PARTY B – THE (RECEIVER) executes, sign and seal Deed of Monetization Agreement (DOA). This hereby automatically becomes a FULL COMMERCIAL RECOURSE CONTRACT.
2.Within (72) banking hours, PROVIDING BANK issue a PRE-ADVICE MT799/MT199 to RECEIVING BANK to manifest its readiness to send the XXXM SBLC MT760 OPERATIVE. RECEIVING BANK responds accordingly to manifest its readiness to receive the XXXM SBLC MT760 OPERATIVE With MT799/MT199 BPU.
4.Within another (72) banking hours after successfully PRE-ADVICE response With BPU from RECEIVINGBANK, PROVIDING BANK issue the XXXM SBLC OPERATIVE SWIFT MT760 on behalf of Beneficiary designated account number and sent SOFT COPY via EMAIL.
5.Within 10 International Banking days after the SWIFT SBLC MT760 OPERATIVE have been confirmed by RECEIVING BANK, PARTY B – THE (RECEIVER) will instruct his bank to release the Agreed Amount Of Non-Recourse Funding by wire transfer to PARTY A – THE(SENDER) designated accounts and in same time wire the Intermediary COMMISSION, to INTERMEDIARIES designated account details.
6.Should PARTY B – THE (RECEIVER) fail to pay the fees within allowed time (10 banking days) as stipulated in this agreement after confirmation of the XXX MILLION SBLC in PARTY B – THE (RECEIVER)’s bank, PARTY A – THE (SENDER) will instruct the issuing bank to put a claim on the bank instrument thereby forcing the RECEIVING BANK to return the bank instrument XXX MILLION SBLC to the issuing bank Via MT792.
The LTV Percentage For Rated Bank SBLC Will Be Lying Between 60% to 80% Depending Upon The Face Value Of the SBLC and Type of SBLC (whether it is leased or purchased)
The LTV Percentage for Non-Rated Bank BG/SBLC will be lying between 15% to 25% depending on face value of the BG/SBLC
Accepted Rated Banks: Barclays Bank, HSBC Bank, Deutsche Bank and other top 25 Banks
Accepted Non-Rated Banks: Winter Bank, Soleil Chartered Bank, Credit Suisse Capital and other banks.
1.Client Information Details
2.Passport of the authorized signatory
3.Copy of the SBLC (if the SBLC is already issued) or RWA Letter from issuing Bank with ATV stating the readiness of the bank to issue the SBLC.( If the SBLC is going to be issued)
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