MT760 Blocked Funds

Terms

The MT760 Blocked Funds is effective for a period of one (1) year and one (1) month, with an option to extend for up to five (5) additional years.

The total value of the Blocked Funds is one billion five hundred million euros (€1,500,000,000).

The Receiver or Receiver Representative has the option to choose from the following three banks for the issuance of the Blocked Funds: BARCLAYS (LONDON), HSBC (LONDON), or DEUTSCHE BANK (GERMANY).

The estimated timeframe for the Blocked Fund setup payment to the receipt of the MT760 Blocked Funds by the receiving bank is between 10 to 12 banking days.

The Blocked Funds will be issued utilizing the Bank’s own funds.

Following the receipt of the initial payment from the Receiver or Receiver Representative, the creation and issuance of the Blocked Funds, including the submission of the MT799 to the Receiver or Receiver Representative, is expected to take approximately 6-8 banking days.

The MT760 will be dispatched within 2-4 Banking days after the Sender Representative has received an MT199 or MT799 from the Receiver or Receiver Representative indicating their readiness to receive the MT760, and after the second payment for the issuance of the MT760 has been received by the Sender Representative. Concurrently, an electronic copy of the Blocked Funds will be sent from the sending bank to the Receiver bank.

Payment for the issuance of the SBLC will be structured as follows: 50% to initiate the process and 50% upon confirmation of the MT799, prior to the issuance of the MT760.

An additional Deed of Agreement (DOA) and Monetization agreement will be executed by the Sender Representative and the Receiver or Receiver Representative, which will include an International Monetary Fund Participation Agreement (IMFPA) detailing all post-Monetization payouts for all parties involved. This Monetization agreement must be presented to the Sender Representative and receive approval via email confirmation from the Sender Representative.

A copy of the MT760 Blocked Funds, issued through the Brussels European Central Bank, will be forwarded to the Receiver Bank by the issuing bank. Additionally, a courtesy copy of the MT760 Blocked Funds swift will be supplied by the Sender Representative to the Receiver or the Receiver Representative.

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This is a Cash Backed Blocked Funds with a 5-year extension option. It includes Brussels MT760 with Electronic copy delivered Directly to receiving bank

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Full Performance Protections from Issuer side !

View Brussels MT760 Blocked Funds issuance Agreement

MT799 PRE-ADVICE VERBIAGE:

DRAFT BLOCK FUNDS PRE-ADVICE MT799

WE, XXXXXXX LOCATED AT XXXXXXXXXXXX ON BEHALF OF OURCLIENT XXXXXX XXXXXXX HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY THAT WE HAVE BLOCKED AND RESERVED CASH FUNDS, ACCORDING TO THE TERMS OF THE CERTIFICATE WITH CODE: XXXXXXXXXXX, IN THE TOTAL AMOUNT OF XXXXXXXXXXXX CLIENT ACCOUNT NUMBER: XXXXXX IN FAVOR OF: XXXXXXXXXX WE HEREBY CONFIRM THAT WE HAVE IRREVOCABLY BLOCKED THE CASH FUNDS FOR ONE YEAR AND ONE DAY (366) FOR XXXXXXXXXXX. THE CASH FUNDS ARE BLOCKED ON XX/XX/XXX, AND THE BLOCK WILL EXPIRE ON XX/XX/XXXX.

WE FURTHER CONFIRM AS PER INSTRUCTION OF OUR CLIENT THAT WE HAVE IRREVOCABLY BLOCKED AND RESERVED THE AFOREMENTIONED CASH FUNDS IN THE FAVOR OF XXXXXXXXX THESE CASH FUNDS WHICH ARE CLEAN, CLEAR AND FREE OF ANY LIENS OR ENCUMBRANCE AND THE RULE OF FULL DISCLOSURE HAS BEEN ESTABLISHED THAT SUCH FUNDS WERE LEGALLY OBTAINED FROM NON- CRIMINAL BUSINESS ACTIVITIES.

WE CONFIRM THAT THESE FUNDS HERE HELD IN CUSTODY ARE NOT PERMITTED TO BE WITHDRAWN, MOVED OR TRANSFERRED DURING THE PERIOD OF THIS IRREVOCABLE BLOCK. THIS OPERATIVE INSTRUMENT IS NEGOTIABLE, ASSIGNABLE, TRANSFERABLE, DIVISIBLE AND CALLABLE AT MATURITY OR UPON REQUEST OF THE BENEFICIARY. THIS DIRECTIVE IS ISSUED IN ACCORDANCE WITH THE LATEST

REVISION OF ICC600 RULES AND IS REGARDED AS BINDING. THIS INSTRUMENT MAY BE CONFIRMED ON A BANK-TO-BANK BASIS.

MT760 VERBIAGE:

DRAFT BLOCK FUNDS MT760

WE, [ISSUING BANK] OF [ISSUING BANK ADDRESS] WITH FULL BANKING RESPONSIBILITY AND LIABILITY HEREBY CONFIRM THAT WE IRREVOCABLY BLOCKED ON THE ABOVE-MENTIONED ACCOUNT ON BEHALF OF OUR CLIENT [NAME OF CLIENT] CASH RESERVES OF [XXXXXXXX MILLION EURO (XXXXXXXXXX€)]. WE CONFIRM AS PER THE INSTRUCTIONS OF OUR CLIENT THAT WE HAVE IRREVOCABLY BLOCKED, RESERVED AND ASSIGNED THE AFOREMENTIONED CASH FUNDS FOR A PERIOD OF ONE YEAR AND ONE DAY FROM THE DATE OF ISSUE OF THIS INSTRUMENT, IN FAVOR OF YOUR ACCOUNT HOLDER [BENEFICIARY NAME], ACCOUNT NUMBER [BENEFICIARY ACCOUNT NUMBER], IN [BENEFICIARY BANK NAME] LOCATED AT [BENEFICIARY BANK ADDRESS] WE FURTHER CONFIRM THAT THESE FUNDS ARE CLEAR CLEAN FREE OF ANY LEVY, LIENS OR ENCUMBRANCES AND THE RULE OF FULL DISCLOSURE HAS BEEN ESTABLISHED THAT THESE ASSETS WERE LEGALLY OBTAINED FROM NONCRIMINAL BUSINESS ACTIVITIES.

WE CONFIRM THAT THESE FUNDS ARE HELD IN CUSTODY, FULLY PROTECTED AND NOT SUBJECT OF LOSS OR DEPLETION OF ANY TYPE AND KIND, ARE NOT PERMITTED TO BE WITHDRAWN, MOVED OR TRANSFERRED DURING THE PERIOD OF THE VALIDITY OF THIS IRREVOCABLE BLOCKED FUNDS CONFIRMATION.

THIS OPERATIVE INSTRUMENT, ISSUED IN COMPLIANCE WITH PROPER PROCEDURES OF MT760, IS ASSIGNABLE, TRANSFERABLE, DIVISIBLE, NEGOTIABLE AND MAY BE CONFIRMED ON A BANK TO BANK BASIS.

Procedures

Step 1

The CIS of the Receiver Representative or their designated representative, along with the details of the receiving bank, shall be submitted to the Sender Representative for their approval.

Step 2

This agreement pertaining to the issuance of the MT760 Blocked Funds will be executed by both parties involved.

Step 3

A monetization agreement and a Declaration of Authority (DOA), accompanied by an International Master Fee Protection Agreement (IMFPA), will be established between the Receiver or their representative and the Monetizer. This agreement must obtain approval from the Sender Representative, and the payout details for the Sender Representative must be explicitly stated within the document.

Step 4

First payment amounting to______US Dollars ($______USD) for the issuance of the Blocked Funds will be directed to the Sender Representative, which will encompass the selected bank for issuance and all requisite information for the MT799 and MT760, as previously indicated.

Step 5

The Sender Representative will provide a final version of the MT799 and MT760 to the Receiver or their representative for final approval prior to the issuance of the MT799 pre-advice.

Step 6

The MT799 will be dispatched to the Receiver or their representative. The Receiver Bank is required to respond to the Sender Representative Bank with either an MT199 or MT799, confirming receipt of the MT799 and indicating readiness to receive the MT760.

Step 7

The MT760 will be sent following the successful completion of Step #6 and after the second payment of______US Dollars ($______USD) has been received by the Sender Representative upon confirmation of the MT799.

Step 8

Upon successful monetization of the MT760 Blocked Funds by the Receiver or their representative,______(____%) of the monetization amount/LTV will be forwarded to the designated official paymaster of the Sender Representative.

View Brussels MT760 Blocked Funds issuance Agreement

Low-cost issuance fee to be paid in two installments. The first payment is due only after receiving confirmation of 799 from the monetizer or receiving bank. Full performance guarantee included.