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Posted by
Legal Counsel (Friday, July 04, 2008) 'LEGAL COUNSEL' // UNDERSTANDING PRIVATE PLACEMENT PROGRAMS (SWIFT MT 760) #2 |
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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 74: Understanding Private Placement Programs - The SWIFT MT 760 (Part 2) Just to recap our discussions in Part 1: 1) A SWIFT MT 760 is a bank-responsible guarantee of payment issued by the sender bank upon instructions of its account holder - in favour of a designated party. 3) The SWIFT is typically backed by cash funds/assets belonging to the client which are "blocked" by the bank and held by the bank as collateral. 4) Securing a credit line against a SWIFT MT 760 is not without its risks. Should the Trader/borrower default on the credit line, the bank would call in the client's cash funds/assets straight away - and the client would be powerless to prevent it. 5) The MT 760 has fallen into disfavour with many clients and Trade Groups alike. The reason: The unwillingness of banks to issue the SWIFT, the associated high bank charges, the constant delays, as well as issues regarding the safety of the client's funds. Let's move on...
The SWIFT MT 760 comes in a variety of shapes and sizes, depending on the precise language employed by the sending bank as provided in the field specifications, particularly Field 77C. Clients requested to issue an MT 760 would be well-advised, therefore, to obtain the text of the field specifications so there can be no "surprises" later on. And before committing to sending an MT 760, clients had best confirm that their bank will cooperate. A number of banks, as a matter of policy, will simply not issue the SWIFT, or they impose burdensome requirements on the client; this includes, certainly, banks in the United States. Banks in jurisdictions with currency restrictions, meanwhile, like India or mainland China, require strict Central Bank permissions before they can issue an MT 760. Keep in mind, also, that bank charges for issuing a SWIFT MT 760 are not insubstantial. Costs can range anywhere from .05%-1.5% percent of the amount of the SWIFT - depending on the sender bank, the size of the proposed guarantee and the client's relationship with the bank. In Part 3, we will examine various safeguards the client can employ to secure his funds when utilizing an MT 760... Robert
I work with a senior, high-ranking and credentialed Trader in Europe. 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. We have also pioneered an innovative, "client-friendly" Managed "Buy-Sell" Program. The process is simple and straightforward: Clients needn't transfer their funds. The client's funds are never touched (funds verification only). No SWIFT MT 760's or MT 103's. No joint ventures. No asset management contracts. No powers of attorney. No joint-signature accounts. No 50-50 profit sharing agreements. No surprises. We also offer business colleagues and friends a monthly "newsletter" setting out information and updates concerning our private placement opportunities. 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 2008 All rights |
Why don't you tell us your web site and the "idiots" on this forum will give it the once over and find out your past dealings. Maybe we will find a crimminal past or fraud?
Whats with the capitals and all the semi colons in your sentences?
"INTRODUCTORY AGENT" means a nobody broker having nothing, knowing shit and trying to scam.
"HOLY GRAIL" means .... why would you even put this in and especially on ALIBABA? Just proves you are a crook. We already proved you are a LIAR. Scream and kick all you want, you are still a liar and a bad one at that
efund1, we do have a website. But, as you are surely aware, there are tons of goof balls visiting this forum that no one would want to touch. I am sure you know what I mean. We release our information to those who show merit and are qualified to be in direct contact with our team. Nothing personal. I receive, at least, 20 to 30 emails, on a daily basis, from people wishing to "learn about us and send us their junk offers". If you have an account with one of the major U.S. securities firms, you may ask them if they heard about me (Michael Hunt) or my team (Initials are IBC USA LLC). I prefer they are the ones to tell you about us, then for me to post it here and from then on, start to receive junk offers at our official email addresses.
No one is forced to deal with me and my group, based on the conditions I have placed on this forum.
Michael Hunt
I deserve an honest reply.
You've totally ignored me and only answered the bashers.
Have the bashers hit a nerve?
Are you familiar with the term "Diversification" ? If not, look it up. Obviously you have never owned a business in your life and if you did, most likely, it failed ! Your ignorance shows.
MY NAME IS MICHAEL HUNT AND I A BUSINESS
: CONSULTANT AND NOT A LICENSED SECURITIES
: TRADER OR BROKER. I HAVE BEEN IN BUSINESS
: FOR OVER 32 YEARS AND AFTER MANY DECADES OF
: USELESS EFFORTS AND TIME WASTED, I FINALLY
: FOUND THIS GROUP. I HAVE BEEN ACTING AS THE
: "INTRODUCTORY AGENT" AND HAVE BEEN
: DEALING WITH THEM FOR OVER 9 YEARS. I AM
: ABOUT TO RETIRE IN 120 DAYS FROM NOW AND I
: HAVE DECIDED TO HELP SOME OF YOU, THAT HAVE
: BEEN LOOKING FOR THE "HOLY GRAIL"
: FOR MANY UNSUCCESSFUL YEARS WITH NO PAY-DAY
: AT THE END OF THE MONTH / YEAR. THIS IS THE
: ONLY POST I WILL ENTER IN THIS FORUM AND IF
: YOU ARE LUCKY TO FIND IT, THEN, IT IS A SIGN
: FROM "ABOVE" THAT YOUR TIME HAS
: COME TO COLLECT ON ALL YOUR EFFORTS AND
: SLEEPLESS NIGHTS. PLEASE, DO NOT ENTER IN
: CONTACT WITH ME IF YOU HAVE NOT QUALIFIED
: YOUR INVESTOR AND OR YOU ARE NOT IN DIRECT
: CONTACT WITH A QUALIFIED INVESTOR. I HAVE
: WAY TOO MUCH EXPERIENCE NOW, AND I AM ABLE
: TO SPOT THE TIME WASTERS BASED ON THEIR
: INITIAL EMAIL REQUEST. SEND ME AN EMAIL IF
: YOU ARE QUALIFIED AND YOU KNOW YOU HAVE A
: QUALIFIED INVESTOR. SEND ME A BRIEF HISTORY
: OF YOUR BUSINESS EXPERIENCE AND DETAILS
: ABOUT YOUR CLIENT. I AM NOT HERE TO PLAY
: GAMES.
:
: MICHAEL HUNT
: IBC USA, LLC
We are one of the largest financial institutions in United States and we can finance most private and corporate deals in the nation. If you reside outside United States and wish to hire our services for the following projects, we are here to be of service: Purchase real estate as your vacation home. Purchase a business in order to qualify for an Immigration Green Card, we can assist (We have Immigration Attorneys working with us) . If you wish to finance a project outside United States and you own a financial instrument, rated by Moody's and S & P (and it is on euroclear) , we can help. Any questions? Contact Mr. and present your case.
I guess lying is one of your specialities and after all, you are just a plain old broker just like the rest of us on this forum. Since you are one of the largest financial companies in the USA, can you at least come up with a crummy web site to show us little guys who you are?
AOL account? How low can you go? at least get a GMAIL account. Thats more fashionable these days.
Can you assist in verifying "your credentials", since you make a rather definative point in checking your credentials.
I'm not interested in verifying your connections, as I am fully aware that this relationship will be verified on a 1 to 1 between qualified client/trader.
I must however stress that in America it is not in the form of a BG.
s/b MT 760
Perhaps is time to slow down and think about what George Carlin once said. [It has been edited to reflect my point]
Quote--
The paradox of our time in history is that we have taller buildings but shorter tempers, wider Freeways, but narrower viewpoints. We spend more, but have less, we buy more, but enjoy less. We have bigger houses and smaller families, more conveniences, but less time. We have more degrees but less sense, more knowledge, but less judgment, more experts, yet more problems, more medicine, but less wellness. We drink too much, smoke too much, spend too recklessly, laugh too little, drive too fast, get too angry, stay up too late, get up too tired, read too little, watch TV too much, and pray too seldom.
We have multiplied our possessions, but reduced our values. We talk too much, love too seldom, and hate too often.
We've learned how to make a living, but not a life. We've added years to life not life to years. We've been all the way to the moon and back, but have trouble crossing the street to meet a new neighbour. We conquered outer space but not inner space. We've done larger things, but not better things.
We've cleaned up the air, but polluted the soul. We've conquered the atom, but not our prejudice. We write more, but learn less. We plan more, but accomplish less. We've learned to rush, but not to wait. We build more computers to hold more information, to produce more copies than ever, but we communicate less and less.
These are the times of fast foods and slow digestion, big men and small character, steep profits and shallow relationships. These are the days of two incomes but more divorce, fancier houses, but broken homes.
These are days of quick trips, disposable diapers, throw-away morality, one night stands, overweight bodies, and pills that do everything from cheer, to quiet, to kill. It is a time when there is much in the showroom window and nothing in the stockroom. A time when technology can bring this post to you, and a time when you can choose either to share this insight, or to just ignore it...
Remember, spend some time with your loved ones, because they are not going to be around forever.
Remember, say a kind word to someone who looks up to you in awe, because that little person soon will grow up and leave your side.
Remember, to give a warm hug to the one next to you, because that is the only treasure you can give with your heart and it doesn't cost a cent.
Remember, to say, 'I love you' to your partner and your loved ones, but
most of all mean it. A kiss and an embrace will mend hurt when it comes
from deep inside of you.
Remember to hold hands and cherish the moment for someday that person will not be there again.
Give time to love, give time to speak! And give time to share the precious thoughts in your mind.
And always remember:
Life is not measured by the number of breaths we take, but by the moments that take our breath away.
------End of quote.
My reps have given me credit back, but it seems if you move the asset, you pay the fee.
He's smoking something that neither you nor me can have our hands on. Damn, it must be good!
You remind me of the poor saps that want to buy a home, with lousy credit score and want the lender to pay for all the costs (appraisal, loan processing, escrow fees, insurance, etc.). Yah, sure, the bank will do that. Wait, there is more.
You remind me of the old saying: "Everybody wants to go to heaven, but, no one wants to die".
So, back to square one. Zillionares, without the funds to pay for a basic transaction. Strange. Isn't ?
Isn't it funny that "traders" with zillions of dollars in their bank account, shy away from paying a miserable SWIFT fee? Makes you wonder. Huh?
If the so called "trader" cannot afford to pay the SWIFT fee, then, that means his "funds" have no value and the whole Program is false.
Real traders, once they review the POF and see the projections, have no problem incuring and paying for the SWIFT fee.
Something to think about, I suppose.
The answer/s will be:-
1) It is a restricted fund,
2) It is already encumbered,
3) The signatory has no control on the fund, i.e. he/she is a dummy.
4) Lastly but not least, ...it is by arrangement.
Trader pays NO COST whatsoever.
Exception is when he intend to relinquish his practice thru' the act of solicitation which is prohibited by a real trader
If the so called, "investor" cannot afford to pay the SWIFT fee, then, that means his "funds" have no value and the whole POF is false.
Real investors, once they review the ROI spreadsheet and see the projections, have no problem incuring and paying for the SWIFT fee.
Please read our disclaimer.
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