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GERO BOS An Authorised Financial Services Provider FSP 42976

GERO BOS An Authorised Financial Services Provider FSP 42976. Together With:. Treasury Solutions. Dealing in Spot Currency. Foreign Exchange Allowance Assistance. Forward Hedging Cover. Currency Futures. Dealing in Spot Currency.

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GERO BOS An Authorised Financial Services Provider FSP 42976

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  1. GEROBOS An Authorised Financial Services ProviderFSP 42976

  2. Together With:

  3. Treasury Solutions

  4. Dealing in Spot Currency Foreign Exchange Allowance Assistance Forward Hedging Cover Currency Futures

  5. Dealing in Spot Currency

  6. Client goes to bank branch and completes ‘Foreign Exchange Transaction / Transfer of Funds’ Form (as per usual). Include ‘Contact Impex for Rate’ & Impex contact number as advised by Gerobos. The Process Transaction processed with funds being transferred in standard manner but at improved rate. Bank contacts Impex to negotiate. Impex utilizes buying power to secure best possible rate of exchange.

  7. Notifying Bank to negotiate rate with Impex

  8. Required Documents DD No DD If or once Direct Dealing is in place: Completion of ‘Authorising Dealing’ Mandate Completion of ‘Impex Risk Management’ Mandate *RMB & ABSA require additional ‘Board Resolution’ Mandate. If no Direct Dealing (DD) in place: Submit application together with relevant documents to get DD functionality with relevant bank set up. Agreement allowing Impex to deal on client behalf.

  9. Average rate attained by Impex = 2 - 3c above spot.(vsavg. 11 – 15c or higher for DD transactions by medium tier firms ) 0.5% (50 basis pt.) administration charge on transaction ZAR value. Savings eg: Want to buy $50 000 : spot USDZAR = 7.82. Through DD with bank without Treasury Solutions (TS) provider rate attained would conservatively be 7.95. Therefore, $50 000 = R397 500, But, with TS provider, rate attained would be closer to 7.84, Therefore, $50 000 = R392 000, Admin cost of 0.005 x R392 000 = R1 960 Total saving of (R397 500 – R392 000) – R1 960 = R3 540

  10. No change to procedure with surety and ease provided through administrative assistance and oversight by Gerobos and Impex. Applicable to both Current and CFC account transfers. Assistance provided for setting up ‘lines of credit’ and forward hedging positions where necessary.

  11. Foreign Exchange Allowance Assistance with taking foreign exchange allowance offshore and attaining necessary tax certificates. Other Treasury Solutions Related Services: Forward hedging cover Assistance with hedging foreign exchange exposure through the employment of appropriate hedging strategies. Currency futures Profit from rand volatility through speculation with currency futures.

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