Application lease

The following is for informational purposes only and is not to be construed as a solicitation of investment funds or sale of securities for investment, nor is this a complete report or any form of contract. The reader agrees that the contemplated transaction is strictly one of a private nature and is in no way relying upon or relating to the United States Securities Act of 1933, as amended, or related regulations. The following is not prepared by nor does it represent the public policy of any bank or financial institution and is provided in response to your specific request.
DESCRIPTION OF BANK INSTRUMENT
TRANSACTION PROCEDURE: LEASING
  1. THE LESSEE SEND TO THE PROVIDER THIS LOI/DOA WITH ALL DOCUMENTS FOR DUE DILIGENCE AND COMPLIANCE (CIS, CERTIFICATE OF INCORPORATION, BOARD RESOLUTION, BANK RWA (BCL OR POF), ETC … AND WITHIN 48 HOURS PROVIDER CONFIRMS THE DUE DILIGENCE .
  2. WITHIN FIVE (5) BANKING DAYS, RECEIVING BANK OF THE LESSEE WILL ISSUE RWA VIA SECURE BANK E-MAIL OR SWIFT MT199/799 (EXHIBIT A) TO THE DESIGNED BANK BY THE PROVIDER AND SEND COURTESY COPY SWIFT MESSAGE TO THE PROVIDER WITHIN TWENTY-FOUR (24) BANKING HOURS.

    3. BANK: (PROVIDER’S COMPLIANCE BANK)
    BANK E-MAIL:
    BANK OFFICER

    ONCE RECEIVED THE BANKING E-AMIL, AND VERIFIED BY PROVIDER’S COMPLIANCE BANK, PROVIDER COUNTER SIGN THE DOA AND RETURN TO LESSEE, WHICH HEREBY AUTOMATICALLY BECOMES A FULL RECOURSE COMMERCIAL CONTRACT AFTER THE PROVIDER HAS ACCEPTED / COUNTERSIGNED THE RECEIVER’S APPLICATION.

  3. WITHIN FIVE (5) BANKING DAYS, THE ISSUING BANK OF THE PROVIDER WILL ISSUE AN MT-799 PRE-ADVICE (EXHIBIT B) CONFIRMING THAT THEY ARE READY, WILLING AND ABLE TO ISSUE AS PER THE FORMAT SET OUT IN EXHIBIT D. PROVIDER SENDS COPY OF THE MT-799 PRE-ADVICE TO THE BENEFICIARY/LESSEE WITHIN TWENTY-FOUR (24)
    BANKING HOURS.
  4. WITHIN FIVE (5) BANKING DAYS OF THE RECEIPT OF THE PROVIDER’S MT-799 PRE-ADVICE, THE RECEIVING BANK WILL SEND BY SWIFT MT-799 THE BPU (EXHIBIT C) CONFIRMING RECEIPT AND ABILITY TO PAY THE TOTAL AMOUNT UP TO 14% (12% + 2%) OF THE TOTAL FACE THE INSTRUMENT WHICH WILL INCLUDE ALL CONSULTANCY FEES.
  5. WITHIN FIVE (5) BANKING DAYS OF PROVIDER RECEIVING BPU FROM THE RECEIVING BANK, ISSUING BANK SHALL ISSUE SWIFT MT-760 (EXHIBIT D) & PROVIDER WILL SIMULTANEOUSLY ISSUE ITS CORPORATE INVOICE FOR THE SAME.
  6. THE RECEIVING BANK WILL RECEIVE, CONFIRM AND VERIFY THE SWIFT MT-760 SBLC. THE RECEIVER, WITHIN TEN (10) BANKING DAYS OF MT760 RECEPTION, WILL REMIT PAYMENT TO THE PROVIDER’S DESIGNATED ACCOUNT(S) THE ASSIGNEMENT FEES AND THE CONSULTANCY FESS TO THE INTERMEDIARIES’ DESIGNATED ACCOUNT(S).
  7. SHOULD THE BENEFICIARY/LESSEE DEFAULT IN PAYING THE LEASE FEES AND THE TRANSACTION FEES AS STIPULATED IN THIS DOA WITHIN THE STIPULATED TIME AFTER RECEIPT OF SWIFT MT-760, PROVIDER SHALL INSTRUCT THE ISSUING BANK TO PUT A CLAIM ON THE SBLC THEREBY FORCING THE RECEIVING BANK TO RETURN THE SWIFT MT-760 SBLC TO THE ISSUING BANK.
  8. WITHIN TEN (10) BANKING DAYS AFTER RECEIPT OF ALL FEES INCLUDING THE CONSULTANCY FEES, THE HARD COPY OF THE SBLC WILL BE SENT TO RECEIVING BANK BY BANK-BONDED COURIER.
  9. UPON SUCCESSFUL COMPLETION FIRST TRANCHE, AS MUTUALLY AGREED BY BOTH PARTIES, BEGINNING WITH PROCEDURE NEXT TRANCHES; PROVIDER WILL ISSUE SWIFT MT760 IN FAVOR OF BENEFICIARY ACCORDING THIS DOA.
  10. THIS DOA IS A FULL RECOURSE COMMERCIAL COMMITMENT GOVERNED BY THE LAW OF THE UNITED KINGDOM AND STANDARDS UNDER ICC REGULATION.