Furnished by way of
(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.
(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.
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 2½% - 4½% for each period depending upon the required status of the
issuing bank, the amount and documentary format required.
fees to be remitted not less than 5 working days prior to the renewal
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.
The Applicant will be required to provide a full banking "Know your
Customer" background and history together with full
corporate papers, copy passport, etc..