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" PROOF  OF  FUNDS "
Sometimes referred to as
"SHOW AND TELL"

 

Furnished by way of either:

(a) a short term cash loan, or the Applicant being appointed as an asset manager to the Lender. The funds will be credited to the Applicant's own, new account at the Lender's bank. The Lender is a regulated financial institution. The account may also be used for any additional, conventional banking purpose independently of the Lender.

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 or trading of pre-approved stock and shares, securities, medium term notes, etc.

or

(b) The Lender providing direct corporate and bank documentary confirmations via an existing bank account and corporate structure with the Applicant appointed as an officer of the company.

In both cases, the fee charged will be very dependent upon the nature of the arrangements, the amount involved and the required format of documentation required by the Applicant.

Fees must be shown to be available at the outset - to be released only upon the completion of the service in all respects including the delivery of all bank and corporate documents and the account being in credit to the required amount.

The Applicant will be required to give a brief summary of how the funds are to be used.

General Outline Terms and Conditions

Capital Sum Limits: Minimum: 10 million.   Maximum: 500 million.   USD or Euros.

Term and Renewals: Generally offered for periods of 30 - 45 calendar days. Rolling facilities are available via a renewal option with commitments from the facility provider to renew up to one year.

Restrictions: Due to an advisory notice issued by the US. authorities, it is not possible to open the account in the name of a USA domiciled individual or corporate entity.   To overcome this prohibition, such Applicants will should register a non-USA corporate entity and open the account under that name - we can assist in this.

Setting-up and Renewal Fees: From 2% - 4% for each period depending upon the required status of the issuing bank, the amount and documentary format required.

Renewal Fees: Renewal fees to be remitted not less than 5 working days prior to the renewal date.

Deferred or Instalment Fees: Not normally available for this facility. However, where the amount exceeds $200 million the initial fee may be split into two instalments (65% followed by 35% plus a negotiated premium) over not more than 21 calendar days.

Initial Documentation: The Applicant will be required to provide a full banking "Know your Customer" background and history together with full corporate papers, copy passport, etc..

 

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