Procedure de 799

1
SBLC MONETIZATION ACCEPTED PROCEDURES: > > > > >

1. Sender and Receiver execute, sign and stamp the Deed of Agreement which thereby
automatically becomes a full recourse commercial contract after Receiver’s application has
been accepted by the sender.
2. SWIFT 199 or SWIFT 799 expected from issuing bank
3. SWIFT 799 RWA expected from monetizing bank, as per verbiage to be given.
4. SWIFT MT 760 instrument has to be sent as per verbiage to be given. The Swift MT760
substance remain same (basically bank undertaking) ISP 98 and NBFC, non-banking
institutions not accepted. All swift copies will be shared between provider and receiver only. It
is their responsibility and accountability to move this progressively to complete. The entire
procedures are better described here-below:
A) At scheduled time of transmission, the Sender’s BANK will transmit the SWIFT MT199 (it is
not mandatory). The sender’s bank will issue the MT799 – Pre-advise of SWIFT MT760-
CONFIRMATION AND DELIVERY OF SBLC, as per draft here-attached.
B) The sender will forward copy of SWIFT MT 799 to the beneficiaries
C) The monetizing bank will respond with an RWA BY SWIFT 799 TO RECEIVE SWIFT
MT760.
D) Sender’s bank will issue the SWIFT MT760 – CONFIRMATION AND DELIVERY OF SBLC.
E) The sender will forward via e-mail a copy of the SWIFT MT760 to monetizer of the
beneficiary and to the receiver at the following emails address: a. Monetizer b. Receiver:
xxxxxxxx
F) Within 7 to 10 banking days from the receipt of SWIFT MT760 by the receiving bank of the
receiver -CONFIRMATION AND DELIVERY OF SBLC , the receiving bank will authenticate
and validate the SWIFT 2
MT760 on a bank to bank basis.
G) Within FIVE (5) banking days from VERIFICATION AND AUTHENTICATION OF SWIFT
MT760, the discounted amount will be credited in the beneficiaries’ accounts.
H) The sender will make sure to provide the proof of the courier of the hard copy of the SBLC.
After verification within two working days.
I) All taxes are payable by each beneficiary. L) The monetizing bank will be announced after
the signing of the DOA, which will be signed and stamped by the issuer and afterwards by the
receiver.
M) There will not be any BCL or Upfronts because there is a monetizing bank which will issue
directly to the provider and to the beneficiaries an RWA SWIFT MT799 with included
beneficiaries, account and amount to be paid, which means banking confirmation.
N) Facsimiles or electronically transmitted documents are deemed as legally binding as
delivered originals. ‘’’’’’’’
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 3
15 JANUARY 2018
Kind attention Provider/applicant
PROCEDURES FOR DISCOUNTING SBLC 4
RWA 799
PREADVICE FROM ISSUING BANK
Amount and Currency - xxxxxxxM. USD ( Million USD)
Tenor
Expected Issuing date - 1 YEAR 1 DAY
Applicant Name & Address - PROVIDER DETAILS – UK
Beneficiary 1 ) GOLDEN EVEREST ELECTRONICS L.L.C.- (Beneficiary Details)
Amount - XXXX MILLION USD
2 ) Name & Address - PROVIDER DETAILS - UK (ISSUER FEES)
Amount - XX, 000,000 MILLION USD
3 ) Name & Address - LAW FIRM - UK (LEGAL FEES)
4 ) Name & Address - CONSULTANT FEES - DUBAI 5
RWA 799
PREADVICE FROM ISSUING BANK
Dear Sir,
We, _________________ (Bank ), WITH REGISTERED ADDRESS , and swift code as ......................,
would like to issue an SBLC in your favour. Kindly confirm if your bank can discount the same
AGAINST CONFIRMED AND VERIFIED MT760.
Amount and Currency -500 M. USD (five Hundred Million USD)
Tenor --1 YEAR 1 DAY
Expected Issuing date -
Applicant Name & Address -PROVIDER DETAILS –UK
Beneficiary 1 ) GOLDEN EVEREST ELECTRONICS L.L.C. (Beneficiary Details)
Amount -XXXX MILLION USD
2 ) Name & Address -PROVIDER DETAILS -UK (ISSUER FEES)
Amount -XX, 000,000 MILLION USD
3 ) Name & Address -LAW FIRM -UK (LEGAL FEES)
4 ) Name & Address -CONSULTANT FEES -DUBAI
Underlying Transaction Details : 1) BENEFICIARY : Project Investment
2) BENEFICIARY : ISSUER Fee
3) BENEFICIARY : LEGAL CONSULTANT Fee
4) BENEFICIARY : CONSULTANT Fee
WE HEREBY ALSO CONFIRM THAT THESE FUNDS ARE LEGALLY EARNED, GOOD, CLEAN, CLEARED
AND OF NON-CRIMINAL ORIGN AND VERIFIABLE ON BANK-TO-BANK BASIS
Regards
________________________________________________________________________________
____ 6
REPLY
FROM MONETIZING BANK LONDON
TO
_____________________
SWIFT CODE
MANY THANKS FOR YOUR OFFER. WE MAY CONSIDER TO HANDLE THE OFFERED TRANSACTION
WHICH IS SUBJECT TO COMPLIANCE/CREDIT APPROVAL AT OUR END OF THE COUNTER PARTIES
AND UNDERLYING TRANSACTION.
REGARDS
MONETIZING BANK Negotiating Bank Beneficiary Bank
LONDON Issuing Bank
1. RWA
2. Willingness : Yes
3. Instrument -760
4. Verification Swift
5. Complies
6. Authentication Received . Done

Procedure de 799

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Procedure de 799

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1

SBLC MONETIZATION ACCEPTED PROCEDURES: > > > > >

2. SWIFT 199 or SWIFT 799 expected from issuing bank

B) The sender will forward copy of SWIFT MT 799 to the beneficiaries

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