MT760/MT799 Fraud

MT760/MT799 Fraud

MT760/MT799 Fraud has quickly become one of the largest fraud being reported

SBLC Services…

MT-760 has quickly become the one of best providers of Standby Letters of Credit (SBLC) in the nation. The minimum SBLC which we would provide is for $ 200,000,but in most scenarios nothing smaller than $5million seems to welcome.
Many people often use the term “leasing” however actual instrument leasing is not possible (no bank will allow such transactions). However, a third-party may very well take actions which could trigger the issuance of an instrument to client’s behalf and client’s benefit. This is what we could do for client. We could use our assets to have a bank issue an SBLC on client’s behalf, in exchange for an equity position or collateral or joint venture of some sort. This varies greatly depending upon client’s funding needs. The largest we will offer is $500million. In many cases an SBLC is the only solution for real estate developers and project managers in this currently frozen credit market. In many cases our SBLC’s can serve as secondary collateral, which means that they are only called upon in the event of default by the borrower AND after the primary lender has pursued its normal remedies to collect from the borrower. In real estate transactions, that means foreclosure. At that time, the bank/investor issuing the SBLC will pay-off any shortfall the lender may have incurred.
General Details

All bank-issued SBLC instruments that we have issued on client’s behalf are issued on a 12-months basis and all associated fees are charged on a per annum basis (term is typically 12 months and one day) and such SBLC’s are typically delivered via the SWIFT MT-760 protocol. The corporate envelope MT-798 protocol is used for Corporate-issued SBLC instruments, which may vary in their length of term depending on client’s needs (terms may vary from 90 days to 12 months). Please contact us to discuss your needs and we could Taylor make a solution for client. The precise text language of all necessary transmittance of all SWIFT messages could be customized to suit client’s needs pursuant to the details of client’s transaction. All interest rates are calculated on a per annum basis, interest-payments are negotiable between WN Funding and the client. Click here for pricing details. These Instruments are available for “leasing” (see legal details) with or without Pre-Advice operations. All SBLC products are available from a major international bank. All applicants must demonstrate that they are professionals who are familiar with how to use such a bank instruments. We do not educate or provide any advice as to how one could incorporate such a financial confirmation into his financial plans. Applicant may assign the rights to use the instrument, which ownership will not be transferred; however, he is not permitted to sell or pledge the instrument without specific written permission from both us here at WN Funding as well as the issuing bank.

Customization & Usage
Being that each situation is different and unique, many of our decisions are made on a case-by-case basis. Contact us to discuss your specific needs and let us come up with a quality solution for client. In some scenarios we (or one of our many partners) will allow for an instrument to be issued on client’s behalf that may have the ability to be “cashed” or “called” on-demand (usually this is done as collateral for a loan). This will be a fully cash-backed SBLC (drafted with “site draft”), will be fully unencumbered, and shall be issued to client’s benefit (or benefit of the lender). In this case we will require some sort of collateral of joint venture. Please contact us for details. Other scenarios the SBLC shall be issued for “Credit Enhancement” purposes (in these scenarios the instrument will not be able to be cashed or called), however client will not be allowed to use this to deceive or defraud a bank. If client is asked about the origination of the instrument we demand that client is honest and upright with the bank or lender. There are many reasons why people “lease” SBLC instruments, some of the reasons are legitimate and legal however most reasons are unethical and fraudulent. We will NOT get involved with the latter! For more see our legal disclaimer.

If client needs to get approved for a large loan or need to get into some sort of trading program which requires an SBLC, then we could help! The SBLC that we will provide client with may serve as secondary collateral for client’s loan with a third-party lender which will allow client’s primary lender to issue client the loan client require. We could provide these in exchange for equity and/or collateral position within the project. We could also have credit facilities and private lenders with whom we work which can lend client the funds client need.
Glossary

LCPI: preliminary underwriter for Lender, relationship with and provider of the SBLC
ACI: – affiliated partner and representative for LCPI
COLLATERAL: Primary collateral for funding project will be the project itself, with Lender taking a 1st lien position on the property / land, secondary form of collateral will be a financial instrument such as a BG, CD, SBLC, Bond, and or cash
COMMITMENT FEE: A Commitment Fee is required at the time of execution of the Commitment Letter. This fee is either used for further due diligence on the project including a site visit or in case of an SBLC the commitment fee is used as a good faith deposit.
COMMITMENT LETTER: A commitment from the Lender to fund project according to the terms agreed upon in the Term Sheet. Once a Commitment Letter has been issued to a project, Lender has blocked funds for funding of the project
ESCROW AGENT: The agent(s) in control of the Escrow account(s) which the Commitment Fees are held in, the Issuance Fees for the SBLC are held in, the loan proceeds are held in
LEGAL: The Lender’s legal agent, issuing the Term Sheet, Commitment Letter, Final Loan Documents, servicing agent, agent to approval monthly draws, draw disbursing agent
LENDER: Funding Source for project
LOAN FEES: Total loan fees for funding are between 5% and 10%, depending on the project and risk involved.
This is all inclusive of all parties mentioned in this summary and does not include any Broker’s / Agent’s on the Developer’s / Project side of the transaction
POF: Proof Of Funds – letter from financial institution or financial statement for banking institution showing the ability to move forward should Lender issue a Commitment to fund
POP: Proof Of Product – A note from a seller’s bank to a buyer’s that the product offered is available.
SBLC: Stand By Letter of Credit – A bank instrument used as collateral enhancement. The SBLCs we are dealing with are genuine cash-backed instruments from top rated banks in Europe or the US. These instruments are transferable, callable, irrevocable, lien able and will be accepted by most banks as collateral.
Minimum term is 1year and 1day. It can be up to 5 years. The yearly cost is between 8% and 15% of the face value, depending on your project and the issuer.
SBLC PROVIDER: An individual, group of investors or Fund that will supply a SBLC for lease, to be used as secondary collateral in funding project
SECURITY INSTRUMENT: BG, CD, SBLC, or Bond. Whichever instrument is to be used, it must first be approved by the Lender
SERVICING AGENT: The agent / entity which the payments for repayment of the note are paid to
TERM SHEET: Document issued to the project developer(s) / borrower(s), once the project has been underwritten, show casing the terms and preliminary conditions associated with funding of the project
UNDERWRITING: Data extracted from the Executive Summary, Proforma Invoice’s, Appraisals, Entitlements, or any other source, is inputted into Argus to determine the projects strengths and weaknesses, ultimately determining if it meets the Lenders lending criteria
UNDERWRITER: This task is shared by LCPI & the Lender’s Legal department
ES Executive Summary
LOI Letter of interest
FCO Full corporate offer
NDA Non-disclosure agreement
NCND Non circumvent non-disclosure agreement
LC Letter of credit
PPP Private placement platform
MT760 A Swift MT760 (MT means message type) 760 is a blocked funds instrument. Your issuing bank will submit a bank to bank message stating that they have blocked funds for a particular time frame specifically for the beneficiary of a receiving bank. Those funds are now an asset of the Beneficiary bank account. From there they can be entered into a trade platform, used for purchasing certain items or commodities, and sometimes used for a line of credit.
MT799 MT799 is a simple text message, sent bank to bank. This is used for a bank to bank proof of funds, only. The MT799 is not a form of payment and it is not a bank undertaking or promise to pay. It is simply a bank to bank confirmation of the funds on deposit, nothing more.
MT103 The MT 103 is a specific message format used mainly for transferring moneys between customers of different banks or other similar financial institutions (i.e. credit card operators)
Advance Payment Bond A bond issued by a surety company, or a standby letter of credit issued by a bank, on behalf of an exporter, the purpose of which is to refund a buyer for his advance payment of merchandise, if the exporter fails to fulfill his obligations.
BG Bank guarantee – A bank instrument used as collateral enhancement. The BGs we are dealing with are genuine cash-backed instruments from top rated banks in Europe or the US. These instruments are transferable, callable, irrevocable, lien able and will be accepted by most banks as collateral. Minimum term is 1year and 1day. It can be up to 5 years. The yearly cost is between 8% and 15% of the face value, depending on your project and the issuer.
Performance Bond A performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor.
SKR Safe Keeping Receipt – An SKR is a financial instrument that can be used for many purposes by providing security over assets, with the consent of the issuer or his bank or safekeeping facility. An SKR involves the storage of assets or other items of value in a protected, secured area. The SKR issuer is the custodian of the asset and is therefore legally responsible for the items in safekeeping.
CD Certificate of Deposit confirms that you have assets in the bank. We can help you to lease a CD.
MT760/MT799 Fraud the Financial Instruments Provider
BG, SBLC, DLC Group
This group is for buyers, sellers, traders, consultants and brokers representing clients who require financial instruments, trade finance and/or sophisticated financial solutions and those looking to expand their business credit lines or trading capacity. For those concerned about the future viability of their existing credit providers or other financial counter-parties, this group should serve client well.
PLEASE NOTE
This group has been setup exclusively to facilitate actual trades under the ICC between bona fide international trading parties. Those not directly working in international trade (e.g. those involved Executive Search)will be removed.
WARNING TO BROKERS
If client illustrates that client does not understand client’s business to a satisfactory degree, client will be removed. If client is in any doubt do not post here. Any offerings mentioning MT103/23 will be removed and the user banned. Active users, please inform the moderator of any legally questionable or suspected fraudulent offerings.