Requirements:
• Completed application form
• Completed CIS form – Certificate of Incorporation and KYC (Passport / Driving License)
• Pro-forma Invoice stating the payment terms for general merchandise
• Copy of Sales/Purchase Contract (SPA) for commodities
• Letter of Intent/ Loan contract / Credit Offer from the lender/supplier for credit facility
• Verbiage of the instrument (if available)
• Latest 6 months Bank Statements showing financial capacity to meet payment requirements
❖ Delivery Methods: *Swift, *Secured Email, *Hard Copy/Courier
Quotation: Transaction amount, the receiving bank details and delivery method are required.
Procedures
:
1. Upon receiving the client’s application, we conduct a thorough review.
2. Once our assessment Is completed and we are satisfied that all documents are in order, we send
an offer letter or term sheet for the client’s review. Upon acceptance, we send the draft of the
instrument for review by both the client and supplier/lender.
3. While the supplier/lender reviews the instrument, we arrange a Zoom or in-person meeting with the
buyer to discuss the complete transaction structure and payment details.
4. The draft must be approved by the supplier/lender, it must be signed, stamped by either party and
returned to us by the client or broker.
5. When the signed draft is received, we will send an agreement/contract for the client to review, sign
and send back to us.
6. After receiving the signed contract, an invoice is sent to the client for the issuance fee along with an
Indemnity document and a Disclaimer for the client to sign. (For deals where the full upfront fee
payment is required).
i.
Upon receipt of the signed counter indemnity, signed disclaimer, and proof of payment of the
issuing fee, the instrument is then sent via SWIFT or Email or Courier to the beneficiary bank
(within 72 hours).
7. In the case of pre-issuance and post-issuance fees, we send two (2) invoices to the client for the
pre-issuance and post-issuance fees along with a draft of the Promissory Note, an Indemnity
document and a Disclaimer for the client to sign.
i.
Upon receipt of the signed counter indemnity, signed promissory note, and signed disclaimer
from the client, along with the proof of payment of the pre-issuing fee, the instrument is then
sent via SWIFT or Email or Courier to the beneficiary bank (within 72 hours).
8. A relayed copy of the instrument is emailed to the client.
9. The client is then required to settle the balance of the post-issuance fee within 5 – 10 working days.
10.Goods arrive; the client pays for it and clears them at customs/ports.
END OF TRANSACTION
Note: All transactions must be completed within 10 working days; otherwise,
it will be voided, and the facility will be re-allocated to another applicant.