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Posted by EDKA (Monday, September 18, 2006)
SBLC's
1. CAN YOU PROVIDE US WITH A BG OF EITHER 1-2 YEARS? SUCH A BG WILL BE USED > AS COLLATERAL FOR A BANK LOAN THAT HAS NOW BEEN APPROVED FOR US.

Yes, we can provide Leased BG for one year which can be used for credit enhancement. The client's bank has to give an undertaking that it will be returned 15 days before expiry, free and clear of all encumberances. If extensions are needed annually, you have to apply one month before expiry.

> 2. IF BG'S CAN BE PROVIDED AS COLLATERAL, FROM WHICH BANKS ARE YOU MOST > LIKELY GOING TO PROCURE THEM?

The BGs will be from UBS or Deutsche Bank or similar.

The time taken to complete the transaction could be two to three weeks subject to no delays on either side of the procedures.

1. Client signs and sends LOI.
2. Provider accepts, signs and returns the LOI to make it a MOA. 3. Client's Bank to send CONDITIONAL SWIFT MT103 for leasing fees along with a Letter of Undertaking to return the leased instrument before expiry free & clear of all encumberances.. 4. Provider's Bank sends the leased BG/SBLC with ISIN elecronically via SWIFT MT760. 5. Client's Bank receives it, verifies & authenticates and unblocks and releases payment of fees. 6. Client's Bank simultaneously remits commissions to Paymasters as per FPA signed by client. 7. Hard copy of the Instrument is sent by bonded bank courier.

It is very simple and safeguards the interests of both sides.

The charges will be:
Leasing fees - 8% per annum
Commission - 3%.

for all details contact offline at(ekafinancialinc@hotmail.com)

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