The emission Model of the Bank Guarantee will be the one that the Bank considers appropriate given the conditions that the client gives preference to, because it is the issuing bank itself the one that has the different types of models for each case.
The basic requirements that the Bank Guarantee must meet are the following: • The asset must be placed on the customer's account, with FULL BANK RESPONSABILITY
• The asset must be completely available for the client
• The asset must be ASSIGNABLE, DIVISIBLE AND TRANSFERABLE
• The asset should be workable via SWIFT (MT799 / MT760)
• The asset should be verified from BANK TO BANK
Therefore, within the scope of the Bank Guarantee there are different models, the ICC 500, the 458 and the 600, included 458 with revision 500.
The SBLC Model will depend on the agreement reached with the recipient. Therefore, depending on the agreement, the issuing bank issues a SBLC for the beneficiary based on the asset the client has provided. The SBLC must always be set by ICC rules Publ. 500 / 600. It's important to point out that in order to issue a SBLC and use it as collateral it must be Assignable, Divisible and Transferable.
A POF, also known as Proof of Funds, is nothing but a bank document that certifies the client's funds.
This type of document is valid for 5 banking days.
This POF must be signed by two bank officials and stamped by the bank, besides stating that the cash is good, clear, clean and with a non-criminal origin.
LOI, also known as "Letter of Intent", is a formal letter in which the client provides and declares his/her intention to access a Private Placement Program.
This authorization is intended for the Program Manager so that asset verification can be carried out successfully. This verification is ALWAYS carried out from BANK TO BANK, as required by banking operations.
For such authorization to be successfully completed, it must include the names, last names and telephone numbers of the bank officials, as well as their identification number. COPIES should be delivered to this bank officials so that they do not miss the time when the verification by the Traders bank takes place.
Bank ratification document and essential in the final stages of the administative proceeding. With this document, the bank confirms:
* The asset is good, clear, clean and with a non-criminal origin * The asset does not have any kind of external charge * The asset can be confirmed via SWIFT MT799 - MT760
It must be signed by two bank officials and stamped by the same bank. With this document, the bank agrees to the issuance of Swift MT-760 when the client orders it and to the coordenates that the client shall indicate.