Circular Letter 2014/12/08 http://pakmarineltd.com/ http://pakmarineltd.com/communicate-with-our-bank-before-promising-payment.php     PROCEDURE TO COMMUNICATE WITH PROVIDER BANK THROUGH SWIFT MT199    BEFORE MAKING ANY PAYMENT COMMITMENT  Before making any payment commitment in the form of ICBPO OR BLOCKFUND POF OR PROMISSORY NOTE THROUGH MT799 or MT103.23, some clients want to be sure,whether Provider is really capable of sending them BG or not. For this purpose we have 2 Procedures available.1) One procedure is that, on your request, we can put your Contracted BG on EUROCLEAR Screen for 2 days. We provide you ISIN No. etc. enabling you to see ad verify it. and then you send any of your Payment Promising Document like ICBPO OR BLOCKFUND POF OR PROMISSORY NOTE THROUGH MT799 or MT103.23. This document should be payable within 3 to 5 banking days after we send you BG from the Top Issuing Bank through MT76o. If you do not send any such document after we provide you this free facility of exhibiting your document on EUROCLEAR, you will be liable to 1% PENALTY.2) Second Procedure is that, on your request, Provider will send you a Pre-Advice Verbiage which you can send to Provider bank through inexpensive MT199 Swift and Provider bank will confirm you about arranging you BG through some Top Issuing Bank. It will send you a MT199 in reply to your MT199.In an earlier Circular letter, I have already mailed you details of EUROCLEAR procedure. I am reproducing it again for your ready reference. But first you read below further details about MT199 exchange Procedure: 

PROCEDURE TO GET BANK TO BANK VERIFICATION OF BG/SBLC AVAILABILITY

BY YOUR PRE-ADVICE THROUGH MT199 

MECHANISM OF ISSUING 100% CASH BACKED BG OR SBLC:

ISSUING BANKS NEVER DEAL WITH CLIENT BANKS. THEY ISSUE 100% CASH-BACKED BG/SBLC NOT THROUGH THEIR OWN FUNDS. IF PROVIDER BANK ARRANGES 100% CASH DEPOSIT IN THEIR ACCOUNT THROUGH SOME FUNDER ARRANGED BY THE PROVIDER, THEN THEY ACCEPT PROVIDER BANK REQUEST TO ISSUE 100% CASH BACKED BG/SBLC TO ANY CLIENT OF THE PROVIDER. THIS IS THE MECHANISM OF GETTING 100% CASH-BACKED BG OR SBLC FROM ANY TOP ISSUING BANK.

THEREFORE ISSUING BANKS NEVER DEAL WITH CLIENT BANKS. THEY DEAL ONLY WITH PROVIDER BANK, WHICH PROVIDE THEM 100% DEPOSIT WHEN THEY RECEIVE YOUR PAYMENT ASSURANCE DOCUMENT OF 12% FOR BG LEASE OR 55% FOR BG PURCHASE. IF ANY CLIENT WILL MAKE ANY UNAUTHORIZED CONTACT WITH THE ISSUING BANK, HIS CONTRACT WILL BE CANCELLED.

CLIENT IS REQUIRED TO SEND ANY PAYMENT ASSURANCE DOCUMENT LIKE ICBPO OR BLOCKFUNDS POF OR PROMISSORY NOTE THROUGH MT799. SOME CLEINT BANKS FEEL UNCOMFORTABLE FOR SENDING SUDDENLY MT799.   BEFORE SENDING IT, SOMETIMES THEY WANT BANK CONFIRMATION THAT THEIR REQUIRED BG/SBLC IS AVAILABLE AND CAN BE ARRANGED BY THE PROVIDER BANK. IN SUCH A CASE, IF CLIENT REQUESTS FOR IT, PROVIDER WILL PREPARE A PRE-ADVISE VERBIAGE FOR THEIR BANK TO SEND TO OUR BANK THROUGH MT199 AS PER FOLLOWING PATTERN:

SWIFT FORMATMT199PN PRE ADVICE

 

---------------------------Message Header-------------------------------

 

SWIFT OUTPUT

SENDER

BANK ADDRESS

RECEIVER

ADDRESS

SWIFT CODE

BANK OFFICER NAME

ACCOUNT NAME

ACCOUNT NUMBER

IBAN

TEL/FAX

--------------------------------Message Text--------------------------------

79:                                Narrative

ATTENTION BANK OFFICER: 

DEAR SIR / MADAM,

REFERENCE TO TRANSACTION CODE 

WE,             …………………………………………………………………………………………………………,WITH             FULL             BANKING

RESPONSIBILITY, HEREBY CONFIRM THAT WE ARE READY, WILLING AND ABLE TO

ISSUE ICBPO VIA SWIFT MT799 IN FAVOR OF …………………………………………………………………………………………………………………………………………………………………. 

WITH    THE    ACCOUNT    NUMBER    ………………………,     IN       THE            AMOUNT      OF            USD                           ……………………………..$

(UNITED STATES DOLLARS……………………………………………..), AS PER

ABOVED REFERRED TRANSACTION CODE.

PLEASE ADVISE YOUR READINESS TO RECEIVE THIS    ICBPO VIA SWIFT

MT799.

 

Also please confirm that we will receive Pre-Advice followed by MT760 from the Issuing Bank after we send ICBPO.

<<QUOTE

 

FOR AND ON BEHALF OF (NAME OF THE ISSUING BANK)

 

AUTHORIZED OFFICER /                                           AUTHORIZED OFFICER

(NAME, TITLE, PIN CODE)                                   (NAME, TITLE, PIN CODE)

 

UNQUOTE

 ===============================================================================================================================================================-

  Circular Letter 2014/12/01 http://pakmarineltd.com/   NO UPFRONT FEE NEW EUROCLEAR PROCEDURE FOR LEASE AND PURCHASE OF BG/SBLC 

 

PROPOSED NEW EUROCLEAR PROCEDURE

 

1)   After both parties sign the DOA/LOI, it automatically becomes a full commercial non-‐ recourse contract to be executed and lodged with their respective banks when the LESSOR Countersigns this DOA/ LOI and returns to LESSEE with all the documents  

 

2)     If any Lessee so desires Provider will within 48 hours BLOCK THE BG/SBLC ON EUROCLEAR for Two (2) international banking days, for the beneficiary of LESSEE. Lessor will provide login access code information for lessee's bank to confirm.  

  

3)     Within 48 hours after Borrower/Lessees confirmed the BG/SBLC on EUROCLEAR,  Borrower/Lessee MUST issue ICBPO or BLOCKFUNDS POF via SWIFT MT799 as per the provided verbiage (see Appendix A) to the Provider’s bank coordinates. If Borrower/Lessee failed to issue that MT799 within 48 hours after confirming the EUROCLEAR, a penalty of 0.1% of the transaction total face value will be charged and MUST be paid via WIRE TRANSFER to provider’s nominated Acc. 

  

4)     Within Three (3) international banking days upon successful confirmation of the Borrower/Lessee’s MT799, Lessor will authorize their bank to issue SWIFT MT760 (as per verbiage in Appendix C) to Lessee’s receiving bank.  

  

5)     Within 3 banking days, after the confirmation of MT760, lessee will instruct their bank to release payment to Provider and all Intermediaries via MT103 to cover the Lease cost of the INSTRUMENT. This will conclude the swift transaction. 

 

  

6)     Hard Copy of the BGs will be delivered to Beneficiary’s Bank within Seven (7) international banking days via bonded bank courier if needed. 

 

  Regards, Hussain Khan, Tokyo

http://pakmarineltd.com/verbiages-and-pre-verification-of-bg-via-mt199.php

FOLLOWING 3 NEW CLAUSES HAVE BEEN ADDED IN THE LOI FOR NO UPFRONT FEE PROCEDURE, WHICH IS ATTACHED HERE: 

B) IN CASE LESSEE WANTS BANK TO BANK CONFIRMATION ABOUT ISSUANCE OF MT799 PRE-ADVICE, HIS BANK CAN SEND MT199 TO PROVIDER BANK FOR SUCH CONFIRMATION. PROVIDER BANK WILL REPLY BY MT199 THAT IF MT799 BLOCKFUNDS OR ICBPO OR PROMISSORY NOTE IS RECEIVED FROM LESSEE BANK, MT799 PRE-ADVICE WILL BE SENT IN REPLY TO ICBPO OR BLOCKFUNDS MT799 OR PN.

©CLIET VERIAGES OF MT799 BLOCKFUNDS OR ICBPO OR PROMISSORY NOTE ARE NOT ACCEPTABLE. ONLY OUR VERBIAGES AS GIVEN IN IN VARIOUS APPENDICES OF THIS DOA WILL BE ACCEPTABLE.

(D) ALL THESE PAYMENT DOCUMENTS, ICBPO, BLOCKFUND POF, PROMISSORY NOTE HAVE TO BE SENT BY MT799 FOR 60 OR 90 DAYS VALIDITY, BUT VALIDITY WILL AUTOMATICALLY EXPIRE AT THE COMPLETION OF THE TRANSACTION, I.E. BY THE PAYMENT OF THE BG/SBLC COST PAYMENT. MOREOVER, THEY WILL ALL EXPIRE AUTOMATICALLY IF MT799 PRE-ADVICE BY THE ISSUING BANK IS NOT SENT WITHIN 7 OR 10 BANKING DAYS.

 

Regards,

Hussain Khan, M. A. Tokyo

FOLLOWING NEW CLAUSES HAVE BEEN ADDED IN LOI FOR NO UPFRONT FEE PROCEDURE:

(B) IN CASE IF ANY BUYER WANTS BANK TO BANK CONFIRMATION ABOUT ISSUANCE OF MT799 PRE-ADVICE, HE SHOULD REQUEST PROVIDER TO PROVIDE VERBIAGE FOR SENDING MT199 TO HIS BANK. THEN CLIENT CAN SEND THAT MT199 TO PROVIDER BANK FOR SUCH CONFIRMATION. PROVIDER BANK WILL REPLY BY MT199 THAT IF MT799 BLOCKFUNDS OR ICBPO OR PROMISSORY NOTE OR MT103.23 IS RECEIVED FROM LESSEE/BUYER BANK, MT799 PRE-ADVICE WILL BE SENT IN REPLY TO ICBPO OR BLOCKFUNDS MT799 OR PN OR MT103.23.

©CLIET VERIAGES OF MT799 BLOCKFUNDS OR ICBPO OR PROMISSORY NOTE ARE NOT ACCEPTABLE. ONLY OUR VERBIAGES AS GIVEN IN IN VARIOUS APPENDICES OF THIS DOA WILL BE ACCEPTABLE.

(D) ALL THESE PAYMENT PROMISING DOCUMENTS, ICBPO, BLOCKFUND POF, PROMISSORY NOTE HAVE TO BE SENT BY MT799 FOR 60 OR 90 DAYS VALIDITY, BUT VALIDITY WILL AUTOMATICALLY EXPIRE AT THE COMPLETION OF THE TRANSACTION, I.E. BY THE PAYMENT OF THE BG/SBLC COST PAYMENT. MOREOVER, THEY WILL ALL EXPIRE AUTOMATICALLY IF MT799 PRE-ADVICE BY THE ISSUING BANK IS NOT SENT WITHIN 7 OR 10 BANKING DAYS.

 

http://pakmarineltd.com/no-upfront-fee-mt799-pof-blockfund-procedure.php

http://pakmarineltd.com/bank-to-bank-confirmation-of-mt799-pre-advice.php

MY HOME PAGE FOR BG & SBLC NO UPFRONT FEE PROCEDURES

CONTACT: Skype:hkhanjp; Mobile:81-9033566207; hussaintokyo5@gmail.com & cj@towardsquran.com

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