***POSTING CHANGED BY SUB ADMIN****SBLC and BG WITH NO UPFRONT FEES
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This posting was left in place as an example of inappropriate activity on the forum.
The posting is a forum violation and would have normally been deleted, however, individuals can learn a lot from this post.
The poster references in subsequent posts the FDIC regarding standby letters of credit. While the FDIC identifies standby letters of credit practice by banks, please understand that this institution does not regulate standby letters of credit, as the letter of credit commitment by a bank does not have a bearing on the FDIC insurance (see the US Supreme Court case decision for more details at http://www.justice.gov/osg/briefs/1999/0responses/98-1933.resp.html)
For large interstate banks within the US, the regulation is done by the Office of the Comptroller of the Currency. For smaller banks without interstate banking, this regulation is done by the local Commissioner of Banks.
Further to this, the US Treasury has issued investment information regarding fraud activity and letters of credit or guarantees. This information can be found at http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm.
Thanks!
Sub-Admin
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Real company, real people, work with group that is real. More that an identity behind an email or website. As the current economic climate has deteriorated, we have seen our clients lose millions on real estate, project, and business financing. Integrity Realty and Lending Group has found a solution via our bank instrument product lines. Our bank instruments have provided the necessary collateral for borrowers to obtain financing for various transactions and investment programs.We are offering our clients bank instruments such as Stand by Letter of Credits, Bank Guarantees, and Proof of Funds that have allowed them to obtain financing from anywhere from $50 million to over $425 million. These instruments are provided by the most reputable banks in the world and are AA to AAA rated. Furthermore, we offer the lowest costs in the industry. If you have a client that needs a bank instrument please contact us so we can discuss in greater detail. Advisors, brokers, consultants, and clients it is important that borrowers have the necessary funds to pay for the cost. Costs range start at 2.5% for Proof of Funds; 7% to 14% for Leased Stand by Letter of Credit; 6% to 15% for Leased Bank Guarantees. We have costs from 75% - 85% to purchase a Stand by Letter of Credit or Bank Guarantee. Prices are determined by type of instrument and the loan amount. Minimum loan requirements for our bank instruments are $10 million. We do not have a maximum limit. PLEASE CONTACT OLEG PAVLOV - oleg@fkadvisor.com
Dear Oleg,
nice to see that you have posted this matter in the correct section.
Could you explain the meaning of "leased" in this connection. Maybe the word is not ideally chosen as a SBLC or a guarantee can't be "leased" in the sence of renting it.
I understood that you are from UKRAINE, which institutions from Ukraine could furnish acceptable credit instruments for more than a scarce EUR-million?
I don't want to say anything against the integrity and knowledge of the Ukrainian banks, but in the actual crisis, the Ukraine has been severly affected and Ukrainian banks will really have problems to find acceptance only for your minimum amount.
-Each long journey starts with a small step-
Best regards
Frammi
***************************************************************************************************************************************
This posting was left in place as an example of inappropriate activity on the forum.
The posting is a forum violation and would have normally been deleted, however, individuals can learn a lot from this post.
The poster references in this posts the FDIC regarding standby letters of credit. While the FDIC identifies standby letters of credit practice by banks, please understand that this institution does not regulate standby letters of credit, as the letter of credit commitment by a bank does not have a bearing on the FDIC insurance (see the US Supreme Court case decision for more details at http://www.justice.gov/osg/briefs/1999/0responses/98-1933.resp.html)
For large interstate banks within the US, the regulation is done by the Office of the Comptroller of the Currency. For smaller banks without interstate banking, this regulation is done by the local Commissioner of Banks.
Further to this, the US Treasury has issued investment information regarding fraud activity and letters of credit or guarantees. This information can be found at http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm.
Thanks!
Sub-Admin
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SBLCs are real . Some people don't have a clue of what their talking about. For all you none bank instrument educated and none believers, dont take my word check the Federal Deposit Insurance Corporation(FDIC) . For those who has never seen never a real instrument, If image doesnt show, contact me. I can talk the talk, because i walk the walk! U.S.A ( WHIPSNDIPS@hotmail.com)
http://www.fdic.gov/regulations/safety/manual/section3-8.html
I have a direct source( NO- UPFRONT FEE), but you /client needs to get a LOI / loan commitment letter of an investor (whether private or financial institute, like banks). Such a letter should confirm that the investor is willing and able to give a loan provided that the client can issue a acceptable bank instrument from a top bank (this could be a BG, MTN or the like).
ASLO FUNDING FOR THOSE WHO ALREADY HAVE AN INSTRUMENT!
90% LTV Owned and Leased Bank Instrument Funding within 72 hours
We will not be able to provide any letters or pre-advise to an Instrument issuer or Bank. The funder will only accept files where the Client has been able to acquire the Instrument based on the merits of the Client. If the Client/Bank is requiring a letter from the funder before issuing the Instrument, then we will not be able to offer this program.
PROGRAM SPECIFICS:
• The Client must have already acquired the Instrument (step 1, we are step 2)
• The Client will submit a completed CIS (you can request one if needed)
• The Client will submit a color copy of their Passport
• The Client will submit a copy of the Instrument (front and back)
• Minimum amount is USD$10Million and No Max
INSTRUMENT:
• The Instrument can be either Owned or Leased
• The Instrument needs to be a Cashed Backed Bank Instrument, such as a SBLC, BG, CD or Bond
• The Bank needs to be a World Top 25 Bank with a “A” Bank-Rating or better
• The Instrument must be transferable and will need to be transferred to the lender via MT760 or DTC (if the Client will send via DTC, we will require a RWA from the Bank where the Instrument will be coming from stating that the Bank has the capability and willingness to transfer via DTC)
FUNDING PROCEDURES:
• The Compliance Packet (CIS, Passport & Bank Instrument) will be sent to the lender
• Compliance will begin immediately on the file
• Once the Client has passed compliance and the Instrument has been verified, the file will be approved
• 24 hours after the lender has received the lender will call the Client to offer the Client the contract
• Once the Client has agreed, signed and returned the contract to the lender, the first tranche will be sent
• The Client will receive 90% of the value of the Instrument in 3 days
• Day 1 – the Client will receive 30% minus the 10% closing fee
• Day 2 – the Client will receive the second 30%
• Day 3 – the Client will receive the final 30%
• The Client can do anything with the funds, there are no project requirements, also this is a non-recourse, non-repay loan.
• The lender will be the beneficiary of the Instrument for 90 days, on the 90th day, the Instrument will be returned to the Client.
What is the point of providing a link to the FDIC webiste when this instituation is supporting deposits at REGISTERED FINANCIAL INSTITUTIONS IN THE USA - you can find definitions of Standby L/C's all over the web and one thing they have in common is that all Standby's are issued by banks. Please also note the following:
1. Banks do not issue Standby's for companies/people they don't know and who don't have a banking relationship with them
2. Bank's do not issue transferable standby's without retaining the right to REFUSE to transfer if they do not accept the new beneficiary as an acceptable risk under current AML regulations
3. Standby's are ALWAYS issues to cover specific transactions, not for speculative purposes in an open market.
This really sounds like a great way to give someone you don't know a colour copy of your passport - every heard of identity theft folks.
Final thing - this site is an information exchange and not a platform to sell products and services.
***************************************************************************************************************************************
This posting was left in place as an example of inappropriate activity on the forum.
The posting is a forum violation and would have normally been deleted, however, individuals can learn a lot from this post.
The poster references in previous posts the FDIC regarding standby letters of credit. While the FDIC identifies standby letters of credit practice by banks, please understand that this institution does not regulate standby letters of credit, as the letter of credit commitment by a bank does not have a bearing on the FDIC insurance (see the US Supreme Court case decision for more details at http://www.justice.gov/osg/briefs/1999/0responses/98-1933.resp.html)
For large interstate banks within the US, the regulation is done by the Office of the Comptroller of the Currency. For smaller banks without interstate banking, this regulation is done by the local Commissioner of Banks.
Further to this, the US Treasury has issued investment information regarding fraud activity and letters of credit or guarantees. This information can be found at http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm.
Thanks!
Sub-Admin
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The point of the FDIC link was your last post said " You dont know any banks that issues L/Cs" Now you've changed your tune. I guess the link helped ! SBLCs are not for everyone, and its clear there not for you. I'm in the U.S.A so i only speak of what i know. I cant speak on other countryies.
Private investors ( In US) with assets ( Gold, ETC) Can draw a L/C and lease to who ever they feel can pay it back with interest. (not you). Thats how the rich get richer, by not spending their own money. I dont know where your from, but America the land of the free was built on private money.
- mC donalds can refuse service, But bank wont refuse anyone with money, because the bank makes money off your money. And the L/C is backed from the investors assets and the banks are just middle men.
- Banks in the US cant tell you what to do with your money, if you draw a l/c on your money to invest in viable projects, thats on you. The banks dont have the money the people do. The bank still makes money off interest, because the money never leaves and the investor makes interest off his leasing l/c.
- The only comment you made that makes sense" Standby's are ALWAYS issues to cover specific transactions, not for speculative purposes in an open market ". You must have a valuable project( Business plan, five year financials, etc).
- How can you steal identity from a passport copy, your name is peter how many people in the world named peter. If your that scared you dont need to leave the house, you might get asked to show your i.d to prove you are how you say you are. I can post my California i.d on the net and you cant do nothing with it.
- Upfront fees are scams, you dont pay a bank first to cash a check.
Final thing if you look to your right you'll see all types of products and services. No hard feelings, I FORGIVE YOU your just misinformed. E-MAIL ME I CAN MAKE YOU A BELIEVER AND SHOW YOU WHAT A REAL INSTRUMENT LOOKS LIKE, I'LL EVEN FORWARD YOU A FEW DEALS I'VE DONE.
GOD BLESS AMERICA
I never ever read such a lot of nonsense in one posting. Many of the terms you use are wrong. To draw a L/C means to ask for payment under it, not to issue it!
A SBLC clearly can't be leased to anyone like you could lease a car or a machine.
Private investors even more clearly can of course write whatever they want. What they write can be called SBLC or TIUHK or HGFTF or ... But it can never be an acceptable "Standby letter of credit".
Which rules would you like to use? In any ICC-rule it is made clear that only banks can issue SBLC. And no other rule is accepted.
What is your picture of us bankers, anyhow? You wrote "But bank wont refuse anyone with money, because the bank makes money
off your money. And the L/C is backed from the investors assets and the
banks are just middle men."
Bankers are no financial-hyenas focussed and trimmed to make the big money, have no social conscience and what we are the least is "middle-men"! We might act like public-notaries sometimes, spreading confidence and granting security, but International, commercial bankers have to protect their reputation at any time.
Have you ever heard of anti-money-laundering, anti-fraud- or anti-balance-sheet-fraud-measures? Don't tell me you have never been suspected to be a part of it.
I don't remember, whether I read it in one of your postings or elsewhere that SBLC can be used as "credit enhancements". In theory, yes: possibly. But in practicethis doesn't really work. If the "fish is to big to swallow" banks know how to syndicate a loan. This has become more difficult today than in the years before, but it is still possible.
I would even downgrade the rating of my client if he would come up with such an enhancement.
A colour copy of a passport or ID-card can of course be used for thousands of fraudulent things, Just look at those idiots intruding this forum with their "I sell fresh ..." Would they try to do this with such an effort if no one would fool for it?
With a colour copy of a passport you could open up accounts for those phishing-guys, you could order things, get them picked up and the invoice will go to the true person shown on the colour copy, and so on.
At least in one point do we agree, that upfront fees are scams.
But we bankers don't like balance-sheet-manipulators or teasers either, trying to get "initial fundings" for big businesses they never really intend to finance by virtue of those LOIs.
You know, some guys try to get such worthless LOIs, go to other investors, sometimes also to smaller banks and say "here is my "proof of funds" for USD 150 million. Could I draw USD 1/2/5 million(s) in advance to start up the business! The LOI proves I'm capable of financing the job."
And some investors fool for it.
We are here to give guidance to newcomers and to help them in commercial L/Cs and documentary businesses and to prevent them being fooled by dubious things like "prrof of funds" LOIs on the condition that "someone would grant a credit, if he would receive a 100 % collateral". These documents are not worth the paper on which they are written.
And banks should neither issue nor accept them.
Within this forum, you will encounter many, many bankers. Some of them
have outstanding knowledge and most others know what to think of them.
For example, I am German and have 23 years of banking experience, 19 of which in International banking.
Peter is even more experienced and use to even work in many
countries on various continents. He is in a leading position with one
of the most important banks in the U.S.
We do not want to disclose our e-mail-addresses because we received so many rip-off-e-mails in the past.
By trying to discredit him, you only discredit yourself.
-Each long journey starts with a small step-
Best regards
Frammi
***************************************************************************************************************************************
This posting was left in place as an example of inappropriate activity on the forum.
The posting is a forum violation and would have normally been deleted, however, individuals can learn a lot from this post.
The poster references in previous posts the FDIC regarding standby letters of credit. While the FDIC identifies standby letters of credit practice by banks, please understand that this institution does not regulate standby letters of credit, as the letter of credit commitment by a bank does not have a bearing on the FDIC insurance (see the US Supreme Court case decision for more details at http://www.justice.gov/osg/briefs/1999/0responses/98-1933.resp.html)
For large interstate banks within the US, the regulation is done by the Office of the Comptroller of the Currency. For smaller banks without interstate banking, this regulation is done by the local Commissioner of Banks.
Further to this, the US Treasury has issued investment information regarding fraud activity and letters of credit or guarantees. This information can be found at http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm.
Thanks!
Sub-Admin
***************************************************************************************************************************************
This forum is very entertaining, but so misinformed. So all you so called web international bankers with years of experience, don't take my word. In the words of Frammi (should follow his on advise)" -Each long journey starts with a small step-". First step is to go to the Federal deposit insurance corporations web site, which is not random web SBLC info, but is the system the governs US banks. All top US Banks are insured by FDIC.
If peter is really in a leading position with one of the most important banks in the U.S., he has to follow these regulations and wounldnt have tried to discredit it as mere web info. So how well do you really know him are is that you just share opinions.
http://www.fdic.gov/regulations/safety/manual/section3-8.html
Capitalism is an economic system in which wealth, and the means of producing wealth, are privately owned.[1][2] Through capitalism, the land, labor, and capital are owned, operated, and traded, without force or fraud, by private individuals either singly or jointly,[3][4] and investments, distribution, income, production, pricing and supply of goods, commodities and services are determined by voluntary private decision in a market economy.[5][6] A distinguishing feature of capitalism is that each person owns his or her own labor and therefore is allowed to sell the use of it to employers.[3][7] In a "capitalist state", private rights and property relations are protected by the rule of law of a limited regulatory framework.[8][9] In the modern capitalist state, legislative action is confined to defining and enforcing the basic rules of the market,[8][9] though the state may provide some public goods and infrastructure.[10] Letters of Credit
A letter of credit is a document issued by a bank on behalf of its customer authorizing a third party to draw drafts on the bank up to a stipulated amount and with specified terms and conditions. The letter of credit is a conditional commitment (except when prepaid by the account party) on the bank's part to provide payment on drafts drawn in accordance with the document terms. There are four basic types of letters of credit: travelers, those sold for cash, commercial, and standby.
For the real slow people i'll try explain a Metaphor, sorry if your country cant relate
- Cashbacked L/Cs are like gambling in a Casino. The investor is the gambler, the chips is the instrument , the bank is the House/Casino and the game table is the investment. The Casino holds the money and issues chips to the gambler to play Poker. The game is to win more chips then you started with. To win you stick to the game you know and you lose you know what happens. And if you want to loan someone some chips to play a game too split the profits, thats on you. The Casino cant tell you what to with your chips, because they need your business. And the Casino workers(Banker) are only there kiss the gamblers ass and tend to his/her needs.
Final note; What are bankers but normal people with a good job and who needs them when you know the people with the money that has the banker on speed dail and makes them jump through hoops to make them happy when they call. With out private investors all of you bankers would be out of a job!
-Each long journey starts with a small step-
GOD BLESS AMERICA THE LAND THAT I LOVE!
You really know nothing of us bankers. No private investor would make me jump. I would offer him a coffee, of course, but I would do the same for an old lady which just wants to make an international payment of USD 500,00 - she might feel uncertain about.
If the American bankers were that "arse-licking" as you say, I could understand how the banking crisis began, but I know for sure that the absolute majority is not.
Furthermore, I wouldn't say that the average banker has a good job. We International Business Bankers can be happy, okay!
But the average private banker with all the selling pressure is in a very bad situation. He is permanently afraid of unemployment, as there aren't too many other jobs available for him and is in need to fulfil all targets. He has to sell insurances, conclude credit contracts, acquire fresh fundings, sell savings- and investment contracts, sell credit cards, monitor the reliability of his debtor clients, sell and buy shares, do lots of extra work without being paid for and is always closer to a heart-attack than to his family members.
So, the next time you visit a bank, better think twice about those hard working colleagues and compare yourself with them.
And then imagine which sense your visit to that bank would make, if they were not there.
One more sentense to the FDIC-page. I can't see anything that supported your case but several aspects which challenged it.
Generally speaking, I can't imagine you have ever done SBLC-business yourself as a banker, have you? And I can't imagine either that you could offer any service an American bank could not do even better.
-Each long journey starts with a small step-
Best regards
Frammi
You are certainly entitled to your opinion but we have all heard enough of your rantings and the conversation is not helping the members of this site, just massaging your ego.
Whilst I would defend your right to free speech, I would never defend your use of personal attacks on people you do not know, nor your use of crude invective (look it up).
I am pleased that you love America - it has many wonderful attributes; unfortunately you are not one of them.
***************************************************************************************************************************************
This posting was left in place as an example of inappropriate activity on the forum.
The posting is a forum violation and would have normally been deleted, however, individuals can learn a lot from this post.
The US Treasury has issued investment information regarding fraud activity and letters of credit or guarantees. This information can be found at http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm.
Thanks!
Sub-Admin
***************************************************************************************************************************************
This is from new provider i just got agreement to work with. They are highly classified financial players in the world. The leasing Fee is 14% closed to Lessor side. We never and will not entertain long broker chain. If you are the end Lessee or direct to the Lessee, then we can work. If you are direct to your client, then you will need to sign an FPA with the client for your commission. 14% leasing fee is closed to Lessor side. The provider accepts payment plan 8% to be paid once clients recieves and confirms swift MT760 BG and remaining 6% to be paid within 20 - 30 days.
Here is a simple explanation on how our instruments work with our Provider/investor(s) / Procedures;
We will send a package which you will complete and send back to enable the Investor(s)/provider issue a contract. When you are sent a contract from our investor(s) you will be entering into a Joint Venture (JV) instead of a lease as this will help you to better use the instrument for your needs without it being questioned or it called a leased instrument. The sole purpose why our investor(s) do this is to help the clients have a successful transaction on their projects. What our investor(s) require is once you get the JV Contract, have your team and attorney review the contract before signing. Then if you are ready to commit to the JV simply sign the contract and return to us and when you return the contract in to use let us know if you will require an MT199 Invoice of the transaction sent to your bank from our investor(s) bank. This will activate a credit line if you are using one, plus it will let your bank know that a transaction between you and the investor(s) is pending to close, then your bank will need to set up MT103/23 for the retainer fee as per the MT199 instruction/invoice/contract that was sent to your bank from the investor(s) bank and then show confirmation for the MT103/23 being set in place at your bank to cover the fee's of the JV Contract. These fee's are not released until the investor(s) has sent your instrument via SWIFT MT760 and then your bank officer has verify and once verification is done and approved, then the MT103/23 turns hard and the fee's are released to your JV Investor for the use of the SBLC, BG that you contracted for.
If you will take a copy of the JV Contract to your bank, the bank officer can contact the JV's bank officer to let him/her know that an MT103/23 is being placed on behalf of a JV Contract. This JV Contract gives you, the client, value and opportunity because you are now being a JV with a very well known large Investor(s). After you have shown your new JV Partner that you are ready to commit to your JV Contract, the investor(s) is very flexible to help you with completing the contract so that both parties are in a Win-Win and now you will be ready to start your new transaction as you stated from the start of the process.
Remember you are now Joint Venturing with an investor(s) who has the funds you desire to use, so in all purposes, this is not called a lease but instead a JV Partner for proof of funds ability in a form of an SBLC, BG.
Inform of you have interest, genuine and capable with funds to close.
Justin
JB Financial Services
Tel: 0044 2070603236
Mobile: 00 44 702 4055 110
www.jbfinancialservice.co.uk
www.bgsblc.homestead.com
email: jonathanberry@jbfinancialservices.org
email: justin_inc@ymail.com
The admin group has provided some links to the fraud activity associated with leasing standby letters of credit as noted above.
I have included the link here for easy reference.
http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm
Please be careful everyone and remember to always eductate yourself from multiple sources before taking any action that you do not understand.
Best regards,
LC Sam
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