We offer the Instruments of Leasing Leasing Procedure:
Client submits LOI/DOA with all the required and supporting documents
Within 72 banking hours, provider would review the LOI/DOA, make all the necessary correction, countersign and return it back to the Applicant for their review and approval. Making the DOA a binding contract.
Within 3 (Three) international banking days upon signing this Agreement, the Applicant will instruct their bank to issue POF or ICBPO by SWIFT Message MT799 to the Provider's bank and Applicant sends copy of SWIFT MT799 to the Provider.
Within Three (3) international banking days upon satisfactory verification and authentication of the POF MT799, Lessor's Bank will issue Pre Advice via SWIFT MT-799 Borrowers bank, followed by MT760 upon .
Within Three (3) international banking days upon successful authentication of SWIFT MT-760, Beneficiary's Bank will release MT103 to cover the cost of the Instrument.
Hard Copy of the BGs will be delivered to Beneficiary's Bank within Seven (7) international banking days via bonded bank courier.
Description of Instrument:
1 Instrument: Bank Guarantee BG/SBLC
2 Total Face Value: Eur/Usd 20Million MIN and Eur/Usd 50 Billion MAX
3 Issuing Bank: Top 50 AA rated Bank World Wide.
4 Age: 1 Year and 1 Day
5 Leasing Price: 10% +2%
6 Delivery: SWIFT TO SWIFT.
7 Payment: BANK TO BANK
8 Hard Copy: Bonded Courier within 7 banking days.
Any leasing amount under 20Million is subject to different procedure, please ask us for the procedure and the leasing rate is 10% +2%.
Application process takes about 3 to 5 business days considering all the required information are intact.
Our BG/SBLC is generally issued for 1 year and 1 day but 6 month is also possible, and can easily be extended. Once we issued the BG is transferred to your bank via the Swift protocol of MT760. All the BG’s we deal with are callable, assignable, fully transferable and assignable. Regards.Joseph Lugard.