WE REALIZE YOU MAY HAVE MANY QUESTIONS SO WE WILL ATTEMPT TO ANSWER SOME HERE BUT DO NOT HESITATE TO CONTACT US WITH ADDITIONAL QUESTIONS.
QUESTIONS ARE BROKEN DOWN INTO CATEGORIES...
A. SBLCs SENT BY MT760
B. EUROCLEAR ASSETS SUCH AS MTNS, LTNS, SBLCs, OTHER BONDS.
C. BANK DRAFTS
A. SBLCs SENT BY MT760
WHAT IS THE MINIMUM AND MAXIMUM AMOUNTS AVAILABLE TO MONETIZE?
For SBLCs, typically the minimum face value is Five Million and the maximum is Five Hundred Million in single tranche; funds must be in USD or Euros.
WHAT BANKS AND JURISDICTIONS ARE ACCEPTABLE TO ISSUE THE SBLCs?
Due to our extensive banking relationships, we can accept most any "rated" bank in most any jurisdiction.
IS THERE A PARTICULAR CIS OR KYC TO BE COMPLETED?
Yes, please email us at info@shailinternationalgroup.com and request the Monetization Application and let us know the specifics about your instrument. This is preferred but not absolutely necessary as it addresses questions we might ask later and speeds up the process.
MY CLIENT HAS THEIR OWN DOA, IS THIS ACCEPTABLE?
No, the Monetizer who is paying the client will provide their DOA and their terms, conditions and the procedures including the process to validate the Instrument.
WHICH BANK IS THE RECEIVING BANK FOR THE MT760?
We have receiving bank all across the prime location with top rated banks . The receiving bank is not confirmed until the Client and the Instrument have been validated and we know the issuing bank, jurisdiction, amount, etc.
WILL THE INSTRUMENT BE RETURNED AT TERM?
The Instrument will be returned fifteen days prior to term per the terms and conditions of the DOA which is lodged at the sending and receiving banks.
IF AN INSTRUMENT HAS ALREADY BEEN ISSUED, CAN IT BE MONETIZED?
Generally, yes but there are a number of factors that influence exactly how this is done. We will consider the facts of each case prior to making a final decision.
HOW LONG WILL THE INSTRUMENT BE HELD BY THE MONETIZER?
Typically, twelve months and then returned as stated above.
CAN "LEASED" INSTRUMENTS BE MONETIZED?
Generally, yes, as long as they are "cash backed" and full disclosure is made by the Client and the Provider. There will be a different set of procedures as compared to purchased instruments.
WE HAVE A JV WITH THE CLIENT WHO HAS THE INSTRUMENT, MAY WE RECEIVE OUR PERCENTAGE PAID TO US DIRECTLY?
We will consider on a a case-by-case basis but if allowed then a notarized agreement must be provided signed by all parties along with the CIS of all involved.
CAN YOU MONETIZE ASSET BACKED INSTRUMENTS SUCH AS GOLD, ETC?
Generally, no, but partially asset backed instruments are considered on a case-by-case basis.
CAN YOU PROVIDE THE VERBIAGE OF THE MT760?
Generally standard ICC verbiage is acceptable but the exact verbiage is provided once we determine the receiving bank. This will be provided in the DOA after the client is validated.
WHO IS THE MONETIZER AND MAY I GET A CIS AND PASSPORT OF THE MONETIZER BEFORE THE CLIENT PROVIDES HIS CIS?
All the Monetizer's information is provided in the DOA after a proper submission and validation of the client. Also, please see below.
B. EUROCLEAR ASSETS SUCH AS MTNS, LTNS, SBLCs, OTHER BONDS.
WHAT IS THE MINIMUM FACE AMOUNT OF AN ASSET ON EUROCLEAR THAT CAN BE MONETIZED?
500 million or greater MTNs, SBLCs, BGs, LTNs, Venezuelan Bonds in USD, EUROs or Pound Sterling.
WHAT IS REQUIRED FOR SUBMISSION?
It is requested to use our KYC which can be requested at info@shailinternationalgroup.com In addition, the '23' Euroclear pages must be submitted. Please note: if 22 pages are submitted, the file will not be processed.
WHAT IS THE OFFER, PROCESS AND TIMELINES?
Please request a General Overview which will contain all the necessary details by contacting us at info@shailinternationalgroup.com
C. BANK DRAFTS
WHAT IS THE PROCESS TO MONETIZE A BANK DRAFT?
Client must submit a KYC or request a Monetization Application first. Included must be the background of the draft; whether purchased, leased or if the actual signatory on the issuing account. As part of the submission process, a MT110 must be sent to the Monetizer's bank along with the endorsed original. There are no exceptions to this.
IF I LEASE OR PURCHASE A BANK DRAFT, CAN I MONETIZE IT?
Only if the Issuer of the Draft will provide us with the documentation necessary to validate the instrument. Please Note: If a Bank Draft is leased or purchased, the chances for the actual issuer to send a MT110 are less than 1%; therefore, in most cases, they cannot be monetized.
HOW LONG DOES IT TAKE TO BE PAID?
For most banks, a client is paid in 3 to 5 days after receipt of the MT110 and the signed original. The Original is returned at term or twelve months.
VALIDITY!
From the vast majority of the submissions we receive, very few are valid or can actually be monetized. This is due to Scam Artist who attempt to manipulate the system, broker interference, fraudulent Instruments, falsified MT799s/760s, etc. Procedures are in place to validate all client files and in all cases, we must speak to the Client/Applicant. We never ask for any up-front fees, admin fees, etc.