The asset manager of an international Trust has agreed to provide a simple and fast investment vehicle for project development based upon the delivery of an SBLC issued by a US, Canadian, or EU bank listed in the Bankers Almanac with its own ABA and Swift Code for a US Bank and Swift Code for a Canadian or EU. Bank. “its own” means not a corresponding relationship but the primary account number holder. The offer is to monetize an SBLC issued by your bank for investment. The asset manager is prepared to make this a “funds first” transaction.
The process is explained in the following steps:
• The trust and its bank will come forward only AFTER the project receives a pre-advice letter from your bank saying that it is willing and able to issue an SBLC backing your project upon receipt of suitable funding deposited into the SBLC issuing bank.
• Your Bank agrees to issue an SBLC for between 100 million and 1 billion USD subject to agreement with the funding entity. The funding can be accomplished in either USD or Euro.
• Your Bank prepares and delivers a SBLC pre advice letter (see sample attached) in the name of your company and CEO, also the trust and its president will be named in the letter. You will present the bank’s pre-advice letter, a color copy of your passport and also a summary of the project, the information will be forwarded to the Trust officer.
• Usually within 3-5 business day of receipt of the letter and after vetting the person whose passport was submitted, and the business signatory to whom the letter was issued. The Trust Officer and his banker will have a telephone meeting with the signatory bank officer(s) of the pre-advice letter, to set up all details and confirmations. All details will be kept above board and known to all parties.
• 72 hours after the telephone call and the subsequent to agreements by all parties (as to the terms and conditions in the SBLC), the trust’s bank will deposit cash in your bank in the amount agreed to between the parties of the SBLC plus such bank fees as agreed upon in the telephone meeting. This cash will be held by your bank in escrow. The escrow account will be in the name of the funding trust, the trading platform and your company
• After receipt and deposit of cash funds, your bank will forward the SBLC to the Trust’s bank by MT760.
• Usual & customary fees for the Swift and the SBLC can be deducted from the escrow account.
• Upon receipt of the SBLC by the trust’s bank, the SBLC will be used to trigger a private buy / sell contract as a proof of funds. The cash will not be used for the buy / sell contract but will be the backing of that transaction. The buy / sell trades will go on for one year. Income from the platform will be split evenly by the trust and your company.
• At the end of the one year time, the trust bank will return the SBLC to your bank. At that time your company and the trading platform will release the rights to the funds, and your Bank will return the cash funds to the funding trust’s bank.
• Your company will keep its demand deposit (checking) account in the funding <your> bank for the entire 12 month time. The bi-weekly or monthly proceeds from the trading account will be placed a separate on-demand bank account, and said funds will be available immediately to begin the project.
There is one requirement for this transaction, which is that the person signing client must be a US citizen, with a valid U.S. Passport that has an expiration date more than 13 – months from date of the SBLC’ s pre-advice letter, i.e. A US passport which is valid for the entire length of the program. They will be vetted by Homeland Security as part of the due diligence process.
The trust does serve the public and therefore advanced data regarding them is purposely limited. The trust and its bank will come forward only AFTER the project receives a pre-advice letter from your bank saying that it is willing and
able to issue an SBLC backing the project upon receipt of suitable funding deposited into the SBLC issuing bank.
Please see note that the banks pre-advise letter is issued to the bank client and makes absolutely no reference to, nor does it name a lender in anyway. It simply says that if an acceptable lender is found, (in this case the trust which will be made known on a banker to banker basis once the pre-advice letter is received ) the bank will issue an SBLC subject to receipt of funds in cash delivered by the trust's bank to the SBLC issuing bank.
The question is simply, will the bank agree to write the pre-advise letter to your company, which you are or will become their client. The client brings that letter to the one willing to accept an SBLC of / from the bank. The two banks (your bank and the Trust’s bank) can conduct bank-to-bank verifications and confirmations and proceed with the deposit followed by the issuance of the SBLC.
It just so happens that we have the lender (trust). However, this letter is no different than any other pre-advice letter of credit issued by banks to their clients on a regular basis.
Please be advise, you must make your own banking contact, the key to success is getting high enough up the banks food chain to get this accomplished.
