Available via a funded account in the name of the
applicant under the applicant's signature. The funds are credited as
cleared cash, unencumbered and free of lien available to the Applicant's
first call and will be confirmed as such in writing. The funds may be used
for any approved purpose that does not reduce the value of the overall
position. For example: the acquisition and resale of stocks and shares or securities
such as medium term notes.
Generally offered for
a period of 30 - 60 calendar days. Rolling facilities are available via a renewal
option with commitments from the facility provider to renew up to one year.
The fee charged will be dependent upon the nature of the
arrangements, the amount involved and the form of bank documentation
required by the Applicant.
This facility is not available where it is
proposed to represent the proven funds in such a way as will disguise the
fact that the funds are the proceeds of a loan position. It is the Applicant's
responsibility to ensure that this situation does not arise.
General Outline Terms and Conditions
Capital Sum Limits:
Up to 250 million USD or Euros.
Term and Renewals:
Generally offered for periods of 30 - 60 calendar days. Rolling facilities are available via a renewal
option with commitments from the facility provider to renew up to one year.
Setting-up and Renewal Fees:
From 3% for each loan period.
Instalment
Fees: Not available for this
facility, all setting-up fees must be paid in full on closure. Renewal
fees to be paid not less than 5 working days prior to the renewal date.
Documentation:
The Applicant will be required to provide the usual banking "Know your
Customer" background history and documentation together with full
corporate papers, copy passport, etc. and a clear draft of any bank
documentation required to b e issued by the bank.
