ESSEX TRADE CAPITAL offers many types of financial instruments to those that are seeking to fund for their financial endeavors.
Purchase Owned Bank Guarantee (BG)
Receive Your Owned Bank Guarantee (BG) Today!
SERVICE AND INSTRUMENT DESCRIPTION:
The Essex Trade Capitals offers many types of financial instruments to those that are seeking to fund their financial endeavors. There are many ways to arrange non-recourse collateral, recourse collateral, or even credit enhancement. We work with many investors from Europe and North American banking institutions.
Purchase of Bank Guarantee (BG)
World Top 100 Banks issues our Purchase of Bank Guarantee (BG), and we use the Bank SWIFT Network, Bloomberg, Euroclear or DTC for delivery of these banking instruments. We achieve this using SWIFT MT799 and SWIFT MT760 or Screen Block and Pay via Bloomberg, Euroclear or DTC.
We Protect Our Client Deposits Fully Through 3 Levels of Protection
You never have to worry about your security with our three levels of protection:
- A Two Percent (2%) Non-Performance Penalty
- Two Percent (2%) damage fee will apply to a Party that fails to perform. The 2% shall apply in both cases, either when the Provider has sent a Corporate Invoice which the Beneficiary’s Bank will not respond or pay, and/or when the Beneficiary’s Bank is ready willing and able to receive the BANK INSTRUMENTS and no BANK INSTRUMENTS is delivered from the Providers Bank by SWIFT MT-760, DTC, Euroclear or Bloomberg.
- A Program to Refund Deposits (all our agreements are Bank Endorsed (confirmable) with full bank responsibility as an insurance wrap)
- With our agreement with banks, that bank becomes responsible for payment when the transaction becomes complete.
- When a bank endorsed an agreement, the bank becomes responsible before our company is paid any fees by the client. We are the only Bank Instrument Facilitators in the WORLD that guarantee 100% of your initial deposit through bank endorsement before the client releases any payment.
- Attorneys Client Trust Account
- Once your agreement is approved by the compliance department and bank endorsed, the payment is to be made ONLY AND EXCLUSIVELY to an attorney’s office client trust account. This banking coordinates will be provided directly from an Essex Trade Capitals compliance officer (CCO) and it will be included inside your Invoice.
This Refund Deposit Program protects our clients and makes sure that the deposits are completely safe.
16 Advantages of Purchasing an Owned Bank Guarantee from Us!
- Our program operates with Top 100 World Banks to secure your Owned Bank Guarantee.
- We offer monetization for our own bank instrument in case clients need this service.
- BG is available in EUR and USD.
- Price: Only fifty percent 50% (48+2%) for rated banks, and thirty-five percent 35% (33+2%) for non-rated banks.
- Minimum Face Value for Selling a purchase own Bank Guarantee (BG) is 50 Million.
- After receiving the MT760, you have 5 days to complete your payment.
- Pre-advice for the MT799 is included along with the BG.
- No Corporate or Personal Credit Checks
- No Documentation for your Project Required
- Agreement Signed and returned within 72 hours of completion.
- MT760 offers SWIFT delivery to your Bank.
- We offer Bloomberg, Euroclear or DTC delivery to your Bank.
- Brokers receive up to 1.5% Commission.
- BG is specific to each client’s needs.
- Non-performance penalty of 2 percent included in all contracts.
- Deposit is 100 % protected, and the Provider Bank endorses client payout.
Deposit Requirements for Owned Bank Guarantee (BG) via SWIFT:
Deposit Requirements for Owned BG via EUROCLEAR & BLOOMBERG:
If you Do NOT have Initial Deposit Funds and want a FREE Bank Instrument.
SWIFT MT-799/MT-760 Closing Process:
1. The Beneficiary and provider sign the contract initiating the memorandum of understanding and the letter of intent. This enters them into a contractual agreement.
2. During an upcoming day of business the providing bank will endorse the agreement, granting the beneficiary payment for:
* Swift delivery of the MT799 and MT760
* MT760 Cost of Portfolio Reservation
* Verifying the Beneficiary
*Compliance Assessment Coordinated by the Bank
3. The beneficiary, within two (2) international banking days, instructs his Bank to send swift transmission/portfolio reservation cost of €XXX, XXX by wire transfer to the Provider’s banking coordinates, and emails a copy of the wire transfer receipt to the Provider.
4. Within three (3) banking days after the Providers Bank has received above bank swift transmission/portfolio reservation cost, Provider will instruct his issuing bank to cut the Bank Instruments for the Beneficiary and schedule its delivery to the Beneficiaries Bank (BPU securing the cost needs to be confirmed before the MT799).
5. The beneficiary, within three (3) banking days will provide a confirmable Bank Comfort Letter (BCL) with a Bank Payment Undertaking (BPU) on behalf of the Beneficiary and in favor of the Transaction Code No. _______________ (Beneficiary shall provide a copy of said BCL to the Provider by email).
6. Within ten (10) banking days Provider will confirm the Bank Comfort Letter (BCL) and sends MT-799 Pre-Advice to the Receiver’s bank asking “Are you ready to receive SWIFT MT760 with Bank Instrument, verify and pay by SWIFT MT103 in five (5) calendar days according to Transaction Code No. _______________?” (Provider shall provide a copy of said MT799 to the Beneficiary by email).
7. Within three days the provider’s institution will send the BG through the SWIFT MT760.
8. When the receiving bank has received the BG, they will confirm this with the other bank and will pay within 5 days 50% (minus initial deposit paid to provider), which includes a 2% consultant fee.
9. If the beneficiary foes do not pay the payments, then the Provide will place a claim on the BG which causes the receiver’s institution to return the BG through SWIFT MT760. Any payments that have been made will not be refunded.
10. The provider’s bank has one week within the reception of the payment of the BG to send a copy of the BG to the beneficiary’s bank through a courier that is bank-bonded.
11. Any additional tranches will abide by the same procedures and will continue until the funds have been depleted.
AG Finance TradeXpert
Euroclear & Bloomberg Closing Process:
- Provider and Beneficiary execute, sign and initiate this Letter of Intent / Memorandum of Understanding, which thereby automatically becomes a full commercial recourse contract agreement.
- One Banking day the Provider Bank Endorsed this agreement guarantee the Beneficiaries payment for the:
- Swift Transmission (MT799 and MT760)
- Portfolio Reservation Cost (MT760)
- Beneficiary Verification
- Bank Delivery Coordinates Compliance Assessment
- Beneficiary, within two (2) international banking days, instructs his Bank to send swift transmission/portfolio reservation cost of $XXX,XXX (_________________________) by wire transfer to the Providers provided receiving bank coordinates, and emails a copy of the wire transfer receipt to the Provider.
- Within three (3) banking days after the Providers Bank has received above bank swift transmission/portfolio reservation cost, Provider will instruct his issuing bank to cut the Bank Instruments for the Beneficiary and schedule its delivery via Euroclear/Bloomberg Screen to the Beneficiaries Bank
- The beneficiary, within three (3) banking days will provide a confirmable Bank Comfort Letter (BCL) with a Bank Payment Undertaking (BPU) on behalf of the Beneficiary and in favor of the Transaction Code No. _______________ (Beneficiary shall provide a copy of said BCL to the Provider by email).
- Within ten (10) banking days Provider will confirm the Bank Comfort Letter (BCL) and once confirmed the Provider’s institution must email a certified receipt of the Bank Instrument delivery through Euroclear/Bloomberg. (Provider shall provide a copy of said Euroclear/Bloomberg Screen to the Beneficiary by email).
- Once the receipt is acknowledged the Beneficiary immediately pays the 50% of Face Value purchasing fees (minus initial deposit paid to provider). (screen block and pay).
- Fill out Bank Guarantee Application Below
- When you’ve finished the Purchase Owned Bank Guarantee Application and email it to: [email protected]
- Accepted Standard: Clients must abide by our standards and accurately fill out the application online.
- Rejected Standard:
- Any provider that is listed on the Forbidden Assets and Financial Instrument List.
- Any situation where a client cannot or will not pay the deposit.
- Please note that the days are banking days and no weekends or holidays are counted.
- Banking Days & Holidays Calculator
- With our BG delivery services, everything is non-negotiable. We will not alter the price or procedures of this service.
- We don’t issue RWA or BCL letter. This tactic is normally used by clients to shop around for a credit line with the receiving institution with a banking letter confirming there is a bank instrument ready to be issued on their name. We will never allow this to happen under our company name.
- There is no way to have a FREE Bank Guarantee (BG) or to allow a client to pay for a Bank Guarantee (BG) after the MT760 has arrived. If this is not paid in full, or paid for under a Bank Payment Undertaking, then no Bank Guarantee (BG) will ever be delivered. Banks will not deliver any Bank Guarantee (BG) until the funds are secure. Banks simply do not work for free or on the hope that after they deliver a Bank Guarantee (BG) that the client may pay them.
- The Essex Trade Capitals do NOT receive any payment from his clients outside the attorney’s client trust account. Therefore are NOT RESPONSIBLE for any payment made to any third party including ESSEX TRADE CAPITAL brokers nor delegation office.
- If the client is leasing via Euroclear and requesting a loan via monetization with the Attorney’s Trustees office of Essex Trade Capitals at the same time please make a note of the following information:
- Initial application once submitted takes 72 hours for compliance approval
- You will be given an application for the bank instrument and the recourse or non-recourse loan, once it is submitted 72 hours for due diligence
- After due diligence and application approval client will receive a bank-endorsed countersigned agreement and the client has 3 days to submit payment
- It takes 35 days to process the leasing of the bank instrument after receiving payment
- It takes 30 days for the monetization process of the bank instrument
- A total of 65 working days after payment is received.