Buying a Bank Guarantee (BG) or Standby Letter of Credit (SBLC) Owned

Instrument & Service Description

A Bank Guarantee (BG) is the name used mostly in Europe and Standby Letter of Credit (SBLC) is exactly the same, but used in the USA. Since we are working globally you will see the expression BG/SBLC in our documents.

Our Purchased Bank Guarantees –  Owned, are issued by World Top 25 Banks. We use the Bank SWIFT Network to have clients Owned Bank Guarantees (BG) delivered Bank to Bank using SWIFT MT799 followed by SWIFT MT760. We operate a reliable, efficient delivery and authentication process.

Client Deposits Transmission Fees, are 100% Protected with 2 Levels of Protection

We value our relationships with our clients so much that ALL CLIENT DEPOSITS receive 2 Tiers of Protection which are:

  1. Corporate Refund Undertaking Letter
  2. Two Percent (2%) Non-Performance Penalty

12 Massive Advantages when you Purchase a Bank Guarantee (BG) / Standby Letter of Credit (SBLC) from us!

  1. Program operated with Bank Guarantees from Top 25 World Banks
  2. BG’s/SBLC’s are available in both USD or Euro Currencies, pay in USD we Issue in USD, Pay in Euro, we issue in Euro
  3. Low Purchase Rate of 32 to 40% +2 +2
  4. 10 Days to Complete Full Payment after Delivery of MT760 to your Bank.
  5. MT799 Pre advice Included with BG/SBLC Delivery
  6. Corporate Refund Undertaking protects your Deposit
  7. Normal Personal or Corporate Credit Checks
  8. Low Project Documentation Required
  9. DOA Signed within 24 Hours of being completed and returned to us
  10. Simple Delivery of MT760 direct to your Bank.
  11. All Purchased BG/SBLC’s are Freshly Cut specifically for each Client
  12. 2% Non-Performance Penalty in All agreements

Purchased BG/SBLC – Owned Refundable Transmission Fee Requirements

  1M – 20M               25,000.00
21M – 50M               35,000.00
51M – 100M             55,000.00
101M – 250M           75,000.00
251M – 500M         100,000.00
501M – 1B               120,000.00
1B and above, in Tranches of 1B each, 120,000 for each tranche of 1B

Purchase prices

1M – 100M:                 40%
101M – 999M:            36%
1B – 5B:                       32%

Plus seller and buyer commission, normally 2+2

Prices in USD/EURO

Dual Financial Requirements

When you purchase BG/SBLC Owned, clients must meet two financial requirements:

  1. Clients MUST be able to pay the above Deposit to have the BG/SBLC Delivered to their bank.
  2. Clients MUST be able provide a Bank Comfort Letter (BCL) proving they have the funds in their account currently to pay for the 32-40%+2% +2 cost of the BG/SBLC when it is delivered.

These two important criteria are Non Negotiable!

Estimated Completion Time

The SWIFT MT760 is Delivered 3 Days after the Issuing and Receiving Banks exchange MT799’s.

Closing ProcessSWIFT

  1. Within three (3) banking days after the Provider has received the clients Deposit, the Provider will instruct his issuing bank to create the BG/SBLC for the Beneficiary and schedule it delivery to the Beneficiaries Bank.
  2. Within 7  banking days Providers issuing bank then issues and sends a Preadvice Notification via swift MT799 to Beneficiaries designated bank receiving account. (Provider shall provide a copy of said MT799 to the Beneficiary by email).
  3. When the Beneficiaries bank has replied to the MT799 by SWIFT, then the Providers issuing bank issues and sends the BG/SBLC via swift MT760 to Beneficiaries designated bank receiving account. (Provider shall provide a copy of said MT760 to the Beneficiary by email).
  4. The Beneficiaries bank verifies, and pays for the BG/SBLC within Ten (10) banking days, and additionally pays out the consultancy fees/commissions.
  5. Providers bank, within three (3) banking days of receipt of full Invoice payment for the BG/SBLC, sends the hard copy original Bank Guarantee (BG)BG/SBLC to the Beneficiary’s Bank by bank-bonded courier.

Critical Compliance Criteria

Accepted Criteria:

Clients that comply with our required Client Standards and accurately and correctly complete the Purchase BG/SBLC Owned Application and MUST submit it with completed Bank Comfort Letter (BCL).

Rejected Criteria:

Any BG/SBLC that is required to be delivered to a Provider on this Banned Providers List.

Any BG/SBLC application where the client cannot or does not want to pay the required Deposit for the delivery of the BG.

Any BG/SBLC application that does not include a completed Bank Comfort Letter (BCL).

Critical Information

  1. Our Purchased BG/SBLC delivery service is Non-Negotiable. We do not change the terms, structure, delivery procedures or prices of this service.
  2. We do not offer FREE BG/SBLC or allow clients to pay for the Bank Guarantee (BG) after the MT760 has been received. If the Bank is not paid the Deposit to send the BG/SBLC, then no BG/SBLC will ever be sent or delivered.
  3. When you Purchase BG/SBLC Owned the client must produce a Bank Comfort Letter (BCL) as detailed in the Application below. No BCL, No Agreement, No other Option!

Client Standards

EC requires clients meet key standards and pass compliance in order for us to consider working with them. We do not accept all clients because doing business with EC is a unique Privilege given solely to real, genuine, authentic clients, not a Right that is attainable by all.

Summary

We solely deal with real deals, real people and real Owned BG/SBLC that need to be delivered to our clients nominated bank accounts. The Bank SWIFT Network is the Gold Standard that validates all aspects of this transaction and provides a respected industry platform where a safe settlement can be facilitated. Close your successful Purchase Bank Guarantee transaction with Secure Platform Funding.

Application Procedure

In order for you to get started please download the EC CIS for Bank Instruments, complete and send to info@economic-consultants.com.

We will follow up sending you our EC NSNC NDA. With that in place we have done our KYC and we will send you our Service Agreement for Bank Instruments.

By then we have a Pre-approval for your request in place and we will send you the final application for you to sign and return to us. Then we will get you the LOI/MOU.

The whole process should take between 15 to 25 days after the first payment is made.

NB! Changes may occur without warning!

02 – 2018

Monetisation

We offer monetisation for most top rated banks and some unrated smaller banks. LTV normally 80% Standard B to B procedure. For more information http://economic-consultants.com/funding/bank-instruments/complete-non-recourse-bank-guarantee-monetization-of-leased-bgs/

EC Trading Programs

Our Blocked Funds Service offers trading at very high LTV values with great weekly or monthly returns. Money always remain in clients own bank account with full control.

We can Tailor Programs for clients with assets above 1B.

We have direct access to Tier One Trading Platforms and
For more information go to Investments, Trading Platforms above or Contacts and complete the form under Contact Us, or contact one of our partners. You can find contact details for all of us under the Contact page! Alternatively write to info@economic-consultants.com.

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