Bank Guarantee Leasing

1. Client submits client information form.
2. Due diligence is carried out for compliance purposes on prospective client by provider’s mandated Due diligence company. Cost of due diligence is borne by client.
3. Leasing/Buying Bank Guarantee contract is signed and notarized by local legal office where client is domiciled.
4. Bank Confirmation Letter & Pre-advise of Bank Guarantee is sent to client’s receiving bank by provider’s bank via instrument  from one of the TOP 10 BANKS.
5. A Commitment Letter from client’s Transaction Bank confirming that the said Bank Guarantee will be returned unencumbered, without any lien upon maturity.
6. Bank Guarantee is sent via swift to client’s bank from Provider’s bank
7. Client pays leasing fees with bank charges for transmitted Bank Guarantee by swift to Provider’s designated bank.
8. The Bank Guarantee shall be issued for One year plus One Month & extendable upon re-negotiated contract.
9. The Issuing Bank undertakes with full responsibility to extend the Bank Guarantee 10 days prior to the date of maturity.
10. THE BANK GUARANTEE IS RETURNED UPON MATURITY.

Client, or client’s representative, will provide the necessary information to obtain a quote. The minimum information required is: the client’s name, email address, telephone number, and physical address, account amount, account term and type of account verification required.

A Term Sheet will be issued for the amount requested by the Client. The Term Sheet will stipulate the Arrangement Fee, refundable processing costs, escrow fee and include a short application.