What is the Process Of Bank Instrument Monetization And Details Of Requirement For Documents?

1. Process Of Bank Instrument Monetization And Details Of Requirement For Documents

3. Bank instrument monetizationis the process of liquidating such instruments by converting them into legal tender. We can monetize or lend on just about any bank instrument to be used for project funding, move them into various trading platforms quickly and easily, as well as creatively incorporating them into financing certain development projects. We can monetize CD’s, SBLC’s, DPLC’s, BG’s and MTN’s. This can be accomplished in 30-75 business days. • Monetizing a SBLC or stand by letter of credit is becoming rather common and can be done in as little as 45 days. Many people refer to this as SBLC funding or SBLC financing since you are essentially obtaining cash on the basis of the SBLC or bank guarantee. • (1). Client complete and return the Client Information Sheet if you do not have, we will send a CIS to you.

4. A scan clear color copy of the applicant's passport, screen shot of the front and back of the instrument, authorization to verify, corporate resolution, certificate of incorporation and other required documents. • (2) Bank instrument monetizationcompliance office will execute Due Diligence (within 72 hours) upon receipt of the above mentioned documents. If client’s compliance is approved, monetizer or his representative will confirm the same by sending an email. • (3). Monetize will forward a contract to the client for review  • We will only do transaction with Swift Transmission. NO screen to screen.

6. (5). Bank instrument monetizationupon receipt of the BG / SBLC, will verify, authenticate and confirm it. • (6). Monetizer will disburse trenches and full payment within 15 days to the client. About the requirements, we will need the following documents: • Client Information Sheet + Passport Copy, accompanied with BR & ROC (Board Resolution & Registrars of Companies cert.) since it has to be a corporate client. This is compulsory. Full documentation of the bank instrument (BG / SBLC).

7. A scan clear color copy of the instrument or screen shot showing the ISIN number if applicable and if the instrument is registered on Euro clear and or Bloomberg ~ it is always very helpful. • If the instrument has not been issued ~ we need an Authorization to verify the asset backing the instrument and a Proof of asset (if available). We will check all the documentations and if necessary, we will look it via Bloomberg. We will not do it via Screen to Screen.