Standby Letters of Credit,
Letters of Credit, Bank Guarantees, Certificates of Deposit, Bonds--Gov,
Brady's, Money & Capital market instruments, Bank instruments, Medium-Term
notes (With a minimum face value/par
of US$5 Million)
instruments can usually be discounted, eg, those issued by SBERBank
of Russia and those issued by certain Asia-Pacific banks BNI etc...Please
note Asia-Pacific banks must be "confirmed" by a major U.S./
Usually it is preferred
to deal directly with the Seller, his bank or lawyer.
sound discounting procedures
A clean, clear copy
of Instrument, Swift or Screen print out should be supplied/faxed
to us to check verbiage before any bank co-ordinates can be supplied,,
Normally if. the issuing
bank has a key tested telex established with our banks or their
respectful correspondence banks, a K.T.T procedure of sending the
instrument is preferred only if no possible K.T.T link is found
a Swift of the instrument is required.
If swift procedure
is used,instructions for "SWIFT 199" should be given to
For instruments issued
in the United States of America using our United States banks no
K.T.T or Swift is required as they use a inter-bank banking system,
either straight telex or com-bank.
For banks issuing instruments
outside of United States of America but using a U.S. bank to send
the instrument, "Will only be verifying and authentfying they
have received the instrument for further transmission to the buying
bank. Guaranteeing playability on the maturity of the instrument
has to come from the issuing bank.
Once a K.T.T, Swift
(or any other system used by banks In the U.S.A.) is sent we must
have a clean, clear copy of the message so we can follow it with
our bank to issue payment in accordance with the invoice as quickly
as possible, otherwise it takes approximately five banking days
before we are notified as the banks receive at least a thousand
K.T.T.s and Swift messages per banking day.
Payment of invoice
will be within 24 International banking hours, after our bank authenticates
anti credits the instrument into our account.
Original copy of the
instrument will be sent to our bank by a bonded bank courier officer
within 7 banking days or by electronic transfer.
Usually the following minimum information is required:
For instruments not on
one of the screening services
A complete front and
back extract of the text.
The Issue Date.
The Maturity Date.
The issuing bank.
The transaction bank.
If more than one bank is involved then the lead bank's details.
An indication of the
For instruments on one
of the screening services
Please do not hesitate
to contact us if you require further assistance.
is not a solicitation but rather for informational purposes only, and
shall not in anyway be considered a solicitation for investment funds
nor sale of securities for investment nor solicitation of any type.
Recommended further reading:
Behind the Money Market: Clearing
and Settling Money Market Instruments
Security Identifiers (Screens)
CUSIP Security Identifier (Screen)
on Financial Instruments