Bank letter of readiness text-swift mt760

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Information about Bank letter of readiness text-swift mt760
Finance

Published on February 18, 2014

Author: newbwwllc

Source: slideshare.net

Description

Bank letter readiness text Mt 760 for Financial instrument to put in PPP

BANK’S LETTERHEAD Complete Address, Phone, Mobile Phone, Fax, E-Mail CONFIRMING BANK’S READINESS TO SEND SWIFT MT 760 Date:18 February 2014 To: Subject: Confirmation of Text, Content and Issuance of SWIFT MT 760 Dear Sir, We (bank name and full address) for and on behalf of our Client (corporation or individual name) hereby confirm with full legal and bank responsibility that on the date of this message said Client has presently on deposit with us, (DESCRIBE ASSET), in the amount of (……………………), which has been issued by us with funds that are good, clean, cleared, legally obtained and free from all liens and encumbrances, and freely available. We undertake that at the time our Client serves notice to us we shall immediately issue (within 2 banking days) subject to their direction and bank co-ordinates the format MT 760hereunder via SWIFT to the designated bank (to be nominated thereafter) by way of electronic transmission. Said SWIFT MT 760 electronic transmission will be delivered via our (correspondent) bank, (name and address of bank). We further agree to deliver the signed and sealed hard copy of this SWIFT together with all necessary and required documents within twenty four (24) international banking hours after the electronic transmission has been complied with. We also confirm that we have no objection on the content and verbiage of the required Swift MT 760 as per the sample text quoted hereunder: ========================= MESSAGE TRAILER ========================= BLOCK FUNDS LETTER OF GUARANTEE FORMAT SWIFT MT-760 (FINAL VERBIAGE PER ISSUING BANK-ICC FORMAT) DESTINATION: BANK NAME: BANK ADDRESS: BANK TELEPHONE: FAX NO.: SWIFT CODE: BANK OFFICER: BANK OFFICER (OPERATIONS): ACCOUNT NAME: ACCOUNT NUMBER: F.B.O.: REF: TRANSACTION CODE CORRESPONDENT BANK: IBAN:

SWIFT CODE: SUB-ACCOUNT NUMBER: AMOUNT: CURRENCY: EURO (EUR) -----------------------------------------------------------------NORMAL---------------------------------------------------------------------BANK GUARANTEE #: CURRENCY: PRINCIPAL AMOUNT: DATE OF ISSUE: MATURITY DATE: DATE OF EXPIRY: BENEFICIARY: PLACE OF ISSUE: ---------------------------------------------------------------NARRATIVE-------------------------------------------------------------------FOR VALUE RECEIVED BY US, WE THE UNDERSIGNED[NAME OF BANK], [ADDRESS OF BANK], HEREBY OPEN OUR IRREVOCABLE, TRANSFERABLE, ASSIGNABLE AND CONFIRMABLE BLOCK FUNDS LETTER OF GUARANTEE IN FAVOUR OF _________________ FOR THE AMOUNT OF EUROS (.........MILLION EURO)(€ ..00.000.000,00) PAYABLE UPON PRESENTATION AND SURRENDER OF THIS BLOCKED FUNDS RESERVED BANK GUARANTEE AT ANY OF OUR COUNTERS WORLDWIDE NOT LATER THAN FIFTEEN DAYS AFTER MATURITY. PAYMENT SHALL BE AVAILABLE BY BENEFICIARY’S FIRST WRITTEN DEMAND VIA SWIFT WIRE SYSTEM AND THE DEMAND HEREUNDER MUST BE MARKED, DRAWN UNDER THE BLOCK FUNDS LETTER OF GUARANTEE NUMBER:_________ SUCH PAYMENT SHALL BE MADE WITHOUT SET OFF AND CLEAR OF ANY DEDUCTIONS, OR CHARGES, FEES OR WITHOLDING OF ANY NATURE, NOW OR HEREINAFTER IMPOSED, LEVIED, COLLECTED, WITHELD OR ASSESSED BY THE GOVT. OF [COUNTRY OF ISSUING BANK] OR ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN. THIS BLOCK FUNDS LETTER OF GUARANTEE IS TRANSFERABLE AND ASSIGNABLE WITHOUT PRESENTATION TO US. THIS BLOCK FUNDS LETTER OF GUARANTEE IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS UNDER THE INTERNATIONAL CHAMBER OF COMMERCE, PARIS FRANCE, PUBLICATION NO. 758. WE CONFIRM THAT THE FUNDS BEHIND THIS BLOCK FUNDS LETTER OF GUARANTEE HAVE BEEN BLOCKED AND RESERVED IN FAVOUR OF _____________________, F.B.O.: _____________. THIS IS AN OPERATIVE INSTRUMENT AND NO MAIL OR PHONE CONFIRMATION SHALL FOLLOW. ALL CHARGES ARE FOR THE APPLICANT. THIS CABLE IS AN OPERATIVE INSTRUMENT. THIS BLOCK FUNDS LETTER OF GUARANTEE EXPIRES ON ……………… FOR AND ON BEHALF OF: [NAME OF BANK] [ADDRESS OF BANK] _______________________________ ________________________________

BANK’S LETTERHEAD Complete Address, Phone, Mobile Phone, Fax, E-Mail AUTHORIZED BANK OFFICER (1) NAME: AUTHORIZED BANK OFFICER (2) NAME: TITLE: TITLE PIN CODE: PIN CODE: ========================= MESSAGE TRAILER ========================= UNQUOTE Thank you for your cooperation. If you have further question, this letter may be confirmed via a bank to bank communication. Sincerely, For and on behalf of (Name of Bank) ByTWO bank officers, titles& contact information __________________________________ Insert Bank Officer No. 1 Name Insert Title Insert Phone No. Insert Fax No. ID No.: (SIGNS AND SEAL) ____________________________________ Insert Bank Officer No. 2 Name Insert Title Insert Phone No. Insert Fax No. ID No.:

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