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Posted by
Legal Counsel (Monday, December 24, 2007) 'LEGAL COUNSEL' / UNDERSTANDING PRIVATE PLACEMENT PROGRAMS (PROCEDURES) |
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Welcome back to our weekly series of practical, "hands-on" articles exploring subjects of interest to fellow BradyNet Users. Our intention is to help Users better understand the meaning and significance of various financial terms, processes and transactions that appear with all-too-frequent regularity on the Forum Board. Release 66: Understanding Private Placement Programs - Choosing the Right Procedures (The Winning Strategy) Football pundits will tell you - and we are talking American football here - that a quarterback's greatest asset is not his passing arm or his speed or agility, but, rather, his ability to analyze the opposing team's defense and select the best play to facilitate the team's march downfield. Similarly, a Trader's greatest asset is not his technical know-how with regard to securing credit facilities and arranging the actual buy-sell trading operation, but, rather, his ability to analyze the fact situation - the client's assets, the depository bank, the applicable legal jurisdiction, the trading platform requirements - and select the best procedure to facilitate the successful completion of the transaction. And just like in football where quarterbacks rely on a comprehensive "play book" of plays, Traders too rely on a whole panoply of procedures at their disposal. That being the case, we, perhaps, do the client a grave disservice - and "hamstring" the Trader unnecessarily - by trumpeting too loudly one procedure or another at the expense of all others. Remember this: When it comes to choice of procedures, there is no one "right" approach - nor does "one size fit all". Each procedural format raises different considerations. What’s best for the client, therefore, will depend, ultimately, on the Trader's studied assessment of the nature of the proposed transaction and, of course, the client’s particular preferences. And this determination...well, its probably best left to a sit-down meeting - and a frank and open discussion - between the client and the Trader. Robert
I work with a very senior, high-ranking and credentialed Trader in Europe who is one of the largest commitment holders in the world. The Trader was formerly in government service where he held a highly sensitive position in a prominent U.S. federal agency for a number of years. Our trading group has outstanding capabilities, with its own transacting facilities in most of the major banks. We also have an established relationship with two major Providers who are able to supply medium term notes (MTN's) - fresh cut, slightly seasoned and seasoned. Both Providers are extremely reliable sources for bank instruments and have a wealth of experience; they conduct the business very professionally and are currently tranching for other clients. We also offer business colleagues and friends a monthly "newsletter" setting out information and updates concerning our private placement opportunities and MTN purchase contracts. If you wish to receive our newsletter, just send us your email address and tell us a little about yourself - and we would be pleased to add you to our "mailing list". Copyright 2007 All rights Reserved |
GETRESPONSE EMAIL AND ACCEPT OPTIN EMAIL NOW? AT : rb_world_enterprises@getresponse.com
OR CONTACT : ROBERT BILASKI AT:
EMAIL: rrb_enterprises2005@yahoo.com
yahoo text messaging id: rrb_enterprises2005
Skype text messaging free telephone service id at: superman1158
Or call : 908-821-8639
15 S. Wood Ave., Linden, N.J., 07036 U.S.A.
Great effort gents!
Thank you for your time.
Brady is becoming #1 for the Nigerian "Loan" Gangsters. But thank's to Robert's information and to all "serious" feedbacks we may save even "one" post and start a good and professional Discussion.
Did you read my answer before the Stupid Stinking Nigerian Scammers plastered the board with their shameless scams?
As you may already know, SBLCs and BGs are all different forms/versions of Letters of Credit (L/Cs)
L/Cs are generally and "technically" considered non-negotiable bank debt instruments, even though there may and have been exceptional derivatives. That said, generally L/Cs are issued for a specific purpose and bear the name of a specific person/company and the claim documented in the instrument can only be validated by this person/company or by his/its legal successor. Such paper may and can be transferred in accordance with the laws of obligations of the concerned jurisdiction, and this transfer is possible by means of mutual consent and assignment of the documented right. Ownership of the certificate is only assigned to the respective holder of the right.
One important thing to remember is that the paying bank can only be called upon to do so only within the time window parameters and conditions as set forth at the issuance of the L/C. Legally, this is why it is "technically" non-negotiable.
Why a non-negotiable bank debt instrument - wouldn't it be a negotiable bank debt instrument
Why a non-negotiable bank debt instrument - wouldn't it be a negotiable bank debt instrument
Why a non-negotiable bank debt instrument - wouldn't it be a negotiable bank debt instrument
I just need to add that the client may have other assets besides cash blocked by the sending bank as collateral. It all depends on the bank and client relationship and what is acceptable to that relationship. The MT 760 is properly described as a non-negotiable bank debt instrument. In fact, most BGs and SBLCs these days are sent as MT 760 electronically.
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