Follow Us On 

​​INVESTOR OBLIGATION
The INVESTOR obligation is to make sure all instruments are fully cash backed and ensuring that the PURCHASERS are paying no UPFRONT for any reasons. The INVESTOR is also responsible for all bank charges for procurement which sets Purchaser or Lessee free from any UPFRONT PAYMENT.
The INVESTOR undertakes to provide a 100% FUNDED ISSUING BANK ACCOUNT for procurement / issuance of all instruments reserved the rights below:
A) The INVESTOR reserved the right to receive in its nominated Bank account anywhere in
the world MT799 or MT199 Proof of Fund (POF) to be issue by the PURCHASER OR LESSEE within Three (3) Banking Days upon which contract is signed.
VERBIAGE OF POF VIA SWIFT MT799 OR MT199
“We , XXXX Bank, Address at XXXXXXXX, United Kingdom, as instructed by our customer (AZ PURCHASER’S NAME LLC) confirm that customer’s Account Number: XXXXXXXXXX is active with us in good standing with the balance of $XXX,000,000.00 (XXX million United States Dollars) from non-Criminal origins and that this amount is available for transaction number: TRFI/LCREDIT2019, and will be released on customer's instruction for the benefit of your customer ( AZ INVESTOR’S NAME LLC/ ACCOUNT NO. XXXXXXX).
For and on behalf of: XXXXXX BANK.”
B) The INVESTOR reserved the right to receive to receive the entire instrument and
Brokerage fee on the same account received the POF prior to dissemination to Provider and all Brokers involved.
C) The INVESTOR reserved the right of the Paymaster on this CONTRACT.


TRANSACTION PROCEDURES
1. Agreement – PROVIDER, PURCHASER and INVESTOR execute, sign and initiate this Financial Instrument Deed of Agreement, which thereby automatically becomes a binding agreement between the parties.
2. Proof of Funds (POF) - Within (3) three days of all Three Parties (PURCHASER, PROVIDER & INVESTOR) signing this agreement or as mutually agreed between the parties, the PURCHASER will cause its bank to issue Proof OF Funds (POF) via MT799 or MT199 Amount covering the instrument value according to the verbiage below:
VERBIAGE OF POF VIA SWIFT MT799 OR MT199
“We , XXXX Bank, Address at XXXXXXXX, United Kingdom, as instructed by our customer (AZ PURCHASER’S NAME LLC) confirm that customer’s Account Number: XXXXXXXXXX is active with us in good standing with the balance of $XXX,000,000.00 (XXX million United States Dollars) from non-Criminal origins and that this amount is available for transaction number: TRFI/LCREDIT2019, and will be released on customer's instruction for the benefit of your customer ( AZ INVESTOR’S NAME LLC/ ACCOUNT NO. XXXXXXX).
For and on behalf of: XXXXXX BANK.”
3. Delivery MT799 - After POF have been received at INVESTOR’S Bank, the PROVIDER will..


FOR MORE DETAILS: EMAIL Us at finance@subcontractsindia.com 

sblc by subcontracts india
sblc by subcontracts india

SBLC LEASING PROCEDURE

**Seven steps to close BG SBLC delivery process (to buy/ to lease):

1. Purchaser/Lessee sends POF MT799 or MT199 to INVESTOR’S Account
2. Issuing Bank Sends MT799 Pre-advise
3. Receiving Bank Verifies and Authenticates the MT799
4. Receiving Bank Replies to MT799 by sending to Issuing Bank MT799 BPU (Bank Payment Undertaking)
5. Issuing Bank Sends MT760
6. Receiving Bank Verifies and Authenticates the MT760
7. Purchaser/ Lessee pays Instrument fee to INVESTOR’S Account within 10 Days
 
NOTE REGARDING POF: Although this request for POF is not a part of the provider’s DOA, before we do a submission, however, we need to receive from the buyer a recent POF (be it cash funds and or credit line with available balance) so we can at least verify on a preliminary basis the client’s financial capability to do at least the first tranche. If needed this document can be sanitized to protect the client’s info but it needs to show the bank/location that issued it and the cash funds or credit line available balance. We have had situations before in which principals complete and sign the DOA and the buyer (window shopper for provider's info) does not send the Swift POF as per DOA procedure.


 
THE DEED OF AGREEMENT (DOA) IN WORD FORMAT WOULD BE SENT ONLY AFTER RECEIPT AND APPROVAL OF THE FILLED AND SIGNED CIS 

sblc by subcontracts india
Subcontracts India
Subcontracts India-Trusted & Tested Consultants and Financial Services Providers (Project Finance, Oil and Gas, SBLC)