L E T T E R S  O F  C R E D I T
&  G U A R A N T E E S
 

The instruments are issued in the name of the requested beneficiary and are normally in electronic format transmitted by S.W.I.F.T.. Instruments must be surrendered, unencumbered and clear at the end of the term. Available for a wide variety of uses but the specific intention must be declared at the outset.

General Outline Terms and Conditions:

Capital Sum Limits:	Minimum 1,000,000. Maximum not fixed but in excess of 400 million, Euros or USD.
Term &  Renewals:	Up to 3 years.
Pre-advice & Delivery:	Pre-advice by MT 199, 799 or 999 against which the receiving bank is to provide an undertaking to pay the residual fee upon first use or draw-down. Delivery by MT760 or as otherwise agreed.
Arrangement Fee:	From 6% per annum. Dependent upon use, amount and applicant's credit profile.
Fees Payment:	An initial documentation and issue fee of 0.015% (with a minimum of $35,000) is required to be paid on issue. This amount is payable to the issuing bank prior to delivery of the pre-advice. The full residual fee amount is payable by way of a bank undertaking that becomes effective when the first funds are drawn against the instrument. Alternatively, the full amount is payable via an escrow arrangement or through a UK law firm under your sole instruction giving a payment undertaking effective on the day of issue.
Introducer Commissions:	By negotiation - to be added to the above fees.
Applications:	In the first instance please provide us with details of the amount and term required and the use to which it is to be put.  Please also provide the identity and location of your receiving bank.
All other terms and conditions by negotiation.