20/05/2024
Our SBLC/BG Issuing+monetize one roof prosedur (policy)
I will go straight to the point and tell you that non recourse loans are possible through our company via the bank instrument monetization route. We issue and monetize bank instruments (SBLC) under one roof. We are one of the few financial services providers that are offering this service. Most others will issue a SBLC for you to start looking for a monetizer, and 99% of the time, those kinds of transactions fail because different parties are involved.
The advantage of doing it under one roof with the same company is because it is faster, easier, efficient and most importantly you are sure that you will be funded.
Having said that, it is important to also note that there are so many so-called clients who are pure jokers and time wasters, everyday they are trolling all over the internet looking for free money or free bank instruments without upfront fees. They want the bank instrument provider to either move with swifts first or send MT760, or they want to receive the instrument before paying any money. The simple truth is that those types of deals do not exist in the real world because there is no free money anywhere.
Moving forward, the SBLC will be issued by either HSBC Hong Kong or Barclays bank London. These are prime banks that is why their LTV is very high. We only work with AAA rated banks, we do not work with unrated banks because bank instruments from unrated banks are worthless, useless and also they cannot be monetized, that is the advantage of using a premiere bank instrument provider like us.
DESCRIPTION OF BANK INSTRUMENT and NON-RECOURSE PROJECT FUNDING
Instrument Type:
Standby Letter of Credit (SBLC), Cash Backed
Total Face Value:
$10,000,000.00USD (Ten Million USD)
Currency:
$USD
Issuing Bank:
HSBC Hong Kong or Barclays Bank London
Age/Validity:
One (1) Year and One (1) Day
Leasing Price:
4% (to be deducted from approved funds)
Bank Transmission fee:
$50,000 (Fifty Thousand US Dollars) To be paid upfront
Arrangement Fee:
$10,000 (Ten Thousand US Dollars) To be paid upfront
Monetization fee:
$250,000 (Two Hundred & Fifty Thousand Dollars) To Be Taken from the Monetized Funds
Project Fund To Value:
$8,000,000.00 (Eight Million USD) Non-Recourse Project Funding to be paid out.
Payment Schedule:
Within five (5) banking days after confirmation, verification and authentication of the Swift MT760, the Project Owner will receive 80% net of the Face Value via direct cash wire transfer (MT103)
Funding Repayment:
Approved Project Funds are Non-Recourse. No Repayment Required.
Intermediary Fee:
2% Commission: 1% Project Funder Side, 1% Project Owner Side (This applies only when deal was introduced by a broker or intermediary)
Delivery:
By Swift MT760 to Project Funder's Bank account
Hard Copy:
Bank Bonded Courier within Seven Banking Days
Chart of Bank Transmission Charges:
5M – 10M $60,000.00
11M -- 20M $120,000
21M – 50M $200,000.00
51M – 100M $300,000.00
101M – 200M $400,000.00
201M – 300M $500,000.00
PROCEDURE:
1. Within 24 hours after both parties sign the MEMORANDUM OF UNDERSTANDING/CONTRACT AGREEMENT; Provider/Project Funder will issue a Corporate Invoice plus the CRRUL (Corporate Refund Recourse Undertaking Letter) to the Receiver/Project Owner for payment of the arrangement fee / bank transmission charges of the instrument, to cover BG/SBLC Issuing Bank preparation and all SWIFT transmission charges.
2. Within 2 days after the Project Owner receives the invoice from the project funder, the project owner must transfer/remit the bank transmission charges/arrangement fee to the provider/project funders accounts within 48 hours hours otherwise the contract will be nullified/cancelled.
3. Within 2 banking days after Project Funder receives the bank transmission fee & arrangement fee from the Project Owner, The project funder will authorize his bankers HSBC or Barclays bank to send direct MT760.
4. On receipt of MT760, the provider/project funder shall issue/ transfer / deliver said SBLC hard copy as per agreed verbiage / text to and accordingly provide courtesy copy of SWIFT by email for followup;
5. Upon receipt of MT760 SBLC, The Provider/Project Funder will initiate process of monetization and thereafter facilitate disbursement of MONETIZED AMOUNT equivalent to 80% of the face value of SBLC within 5 banking days from the date of receipt/transfer of MT760 SBLC followed by HARD COPY.
6. The SBLC shall be authenticated by two AUTHORIZED officers of HSBC/Barclays.
7. The SBLC shall be issued as per agreed verbiage/text between parties and any amendment(s) shall be mutually decided.
DEFAULT PENALTY: Any delay or failure of performance by either party of their respective obligations under the contract, the defaulting party shall pay 1% penalty
Should the Project Funder default to release/transfer the monetized funds to the Project Owner as agreed after seven (7) banking days of receiving the swift transmission charges and arrangement fee from the Project Owner, the project funder will pay 1% penalty of non performance to the Customer/Project Owner.
Should the Project Owner/Customer fail to remit/transfer the bank transmission/arrangement fee to the project Funder within 2 days after receiving the invoice/contract agreement, the Customer/Project Owner will pay 1% penalty of non performance to the project Funder.
If you are ready and interested to proceed, please send us the following documents & requirements.
1. We want to know what you want to do with the funds/SBLC. Send us the documents to support your application.
2. Your Proof of Identity, such as national ID card or passport or driver's license.
3. Proof of address, such as utility bill payments, electricity, water, etc.
4. Proof of funds, we want to be sure that you are qualified and have the bank transmission fee readily available in your bank account to avoid wasting each other's time. This kind of transaction is for customers that can afford it, So customers' recent bank statements are mandatory. We wouldn't want to sign a contract and start having arguments, Once we send you the contract we expect the customer to pay the bank transmission fee within 2 days.
As soon as we receive the above information / requirements from you, we will immediately send you the contract to move forward.
Best regards the first mandate PT Haska Pakindo internasional
