Wednesday, August 14, 2013

Monetization of Cash backed BG

If the BG is fully cash backed we can monetize in the following ways 1. Can discount and  pay any country you want2. Can advance loan3. If BG owner interested we can trade and pay him the  proceeds. The following are the procedures . 1. The BG has to be from TOP bank and cash backed.2. you need to provide  copy of the BG  along with Verification letter from the BG owner with full contact details(CIS  PREFERRED)3.On receipt we will verify the instrument and authenticate thro our banker.4.Once verified funding company will contact the owner of Bg and discuss his willing ness to RWA.5.Once the BG owner agreed over phone the contract will be issued6. After signing the contract bank to bank communication will be undertaken as regards assigning of BG and payment.7. Once point no.6 is completed then Bg owner will assign the BG via MT760  and payment is made to bg owner.8.  the service charges are 2% to be divided between both side 50/509. the price will range from 70 to 80%  While sending the BG copy please indicate what the Owner wants out of the above 3 options mentioned

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