Bank Instrument Leasing Details
Option No.1
LEASE FRESH CUT
BG, SBLC, BOND, OR CD
1 YEAR AND 1 DAY
NO UP FRONT POF
$500M MINIMUM LEASE
BUYER/LESSEE RECEIVES
COUNTER SIGNATURE AND INVOICE
BEFORE POF MT103/23
FEE IS 7+2
FPA 2/3RDS OPEN
TRANSACTION PROCEDURES
1. Borrower sends letter of intent (LOI) to the Creditor. The LOI should contain copies of Buyer’s passport, Company’s resolution and Client’s Information Sheet (CIS), IMFPA.
2. Creditor countersigns this LOI and returns to Borrower with Creditor’s company registration no and signatory’s passport, and this LOI automatically becomes a full commercial recourse contract. Both parties shall lodge the executed contract to their respective banks.
3. After both sides sign the contract and lodge in their respective banks, Creditor issue invoice to the borrower.
4. Borrower receive the invoice and show POF via SWIFT MT103-23 of 7% for the first trench of the BG/SBLC/CD/MTN to the Creditor given account and send a confirmation copy via mail to the seller for verification by the Creditor bank.
5. After five banking day’s Creditor confirm the POF via MT103-23 into his account, Creditor’s Bank sends Pre-Advice of MTN/BG/SBLC/CD/BOND full information by SWIFT MT-799 to Borrower’s Bank. On receipt of the SWIFT MT-799, Borrower’s Bank starts verification with Creditor’s Bank, inclusive of confirming delivery of the BG upon satisfactory verification.
6. Within one banking days the Creditor bank will send MT760 to Borrower bank account Borrower will verify the paper inform of MT760 for the MTN/BG/SBLC/CD/BOND after successful verification Borrower bank confirm acceptance of the issued PAPER
7. Within 7 banking days after borrower confirmed the acceptance of the MTN/BG/SBLC/CD/BOND, the issuing bank sends the original hard copy of the MTN/BG/SBLC/CD/BOND to Borrower’s bank by bank-bonded courier. Borrower bank release full payment by Lifting the FIELD -23.
8. Any unauthorized calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited.
9. This Letter of Intent is a full recourse commercial commitment governed by the Law of the jurisdiction that both parties reside. This LOI is also governed by the standard under ICC Regulation.
All subsequent tranches will be based on the same procedures until collateral or funds become exhausted.
10. Buyer’s Bank pays the fees to all consultants, intermediaries and beneficiaries through their Respective Paymasters as stipulated in the Fee Protection Agreement within the same Banking day.
LEASE FRESH CUT
BG, SBLC, BOND, OR CD
1 YEAR AND 1 DAY
NO UP FRONT POF
$500M MINIMUM LEASE
BUYER/LESSEE RECEIVES
COUNTER SIGNATURE AND INVOICE
BEFORE POF MT103/23
FEE IS 7+2
FPA 2/3RDS OPEN
TRANSACTION PROCEDURES
1. Borrower sends letter of intent (LOI) to the Creditor. The LOI should contain copies of Buyer’s passport, Company’s resolution and Client’s Information Sheet (CIS), IMFPA.
2. Creditor countersigns this LOI and returns to Borrower with Creditor’s company registration no and signatory’s passport, and this LOI automatically becomes a full commercial recourse contract. Both parties shall lodge the executed contract to their respective banks.
3. After both sides sign the contract and lodge in their respective banks, Creditor issue invoice to the borrower.
4. Borrower receive the invoice and show POF via SWIFT MT103-23 of 7% for the first trench of the BG/SBLC/CD/MTN to the Creditor given account and send a confirmation copy via mail to the seller for verification by the Creditor bank.
5. After five banking day’s Creditor confirm the POF via MT103-23 into his account, Creditor’s Bank sends Pre-Advice of MTN/BG/SBLC/CD/BOND full information by SWIFT MT-799 to Borrower’s Bank. On receipt of the SWIFT MT-799, Borrower’s Bank starts verification with Creditor’s Bank, inclusive of confirming delivery of the BG upon satisfactory verification.
6. Within one banking days the Creditor bank will send MT760 to Borrower bank account Borrower will verify the paper inform of MT760 for the MTN/BG/SBLC/CD/BOND after successful verification Borrower bank confirm acceptance of the issued PAPER
7. Within 7 banking days after borrower confirmed the acceptance of the MTN/BG/SBLC/CD/BOND, the issuing bank sends the original hard copy of the MTN/BG/SBLC/CD/BOND to Borrower’s bank by bank-bonded courier. Borrower bank release full payment by Lifting the FIELD -23.
8. Any unauthorized calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited.
9. This Letter of Intent is a full recourse commercial commitment governed by the Law of the jurisdiction that both parties reside. This LOI is also governed by the standard under ICC Regulation.
All subsequent tranches will be based on the same procedures until collateral or funds become exhausted.
10. Buyer’s Bank pays the fees to all consultants, intermediaries and beneficiaries through their Respective Paymasters as stipulated in the Fee Protection Agreement within the same Banking day.