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Financing Broker
Financing Broker
1. The Client provides Proforma Invoice and submits the application along with KYC documents.
2. A copy of the draft instrument is given for the Client’s review and approval to share with the supplier for their acceptance of the draft text and supplier bank’s consent.
3. Client signs the draft as their acceptance of the instrument text (if approved).
4. Client signs the contract and provides additional KYC documents if specified by the Bank.
5. Client wires the opening fees to the Advisor’s bank account as per the invoices raised by the Advisors.
6. Client signs the Indemnity Agreement with the Provider of the Instrument.
7. Provider releases the instrument to the Bank for issuance.
8. Assuming no further KYC questions, the Bank issues the SWIFT instrument within 7 to 10 working days after fees are credited to the Bank account, advising through the designated Supplier/Beneficiary’s Bank. If the instrument issuance is declined, full fees are refunded within 7-10 working days.
9. Advisor emails a copy of the SWIFT to the client to follow up with the supplier forconfirmation of receipt. (In some cases, Banks may ask for cheques covering the invoice value from the Client.)
10. After issuance and shipping of goods by the supplier, original shipping documents are sent to the issuing bank by the supplier. The Client wires the payment for the goods as per the invoice value to the Provider’s account as per the Indemnity.
11. On receipt of payment, the Bank releases documents to the Client for releasing goods from the port.
12. If the Client delays wire transfer of funds for the goods, the issuing Bank rejects the documents, and a penalty of USD 1500 is applied.
13. Client bears all demurrage of the shipping company in case of delayed payment.
14. If the receiving bank rejects instruments, all charges are non-refundable.
1. The Client provides a copy of the contract or submits the application along with KYC documents.
2. A copy of the draft instrument is given for the Client’s review and approval.
3. Client signs the draft as their acceptance of the instrument text.
4. Advisors sign the contract with the Client, and the Client provides additional KYC documents as specified by the Bank.
5. Client wires the opening fees to the Advisor’s bank account as per the invoices raised
6. Client signs the Indemnity Agreement with the Provider of the Instrument.
7. Provider releases the instrument to the Bank for issuance.
8. Assuming no further KYC questions, the Bank issues the SWIFT instrument within 2 to 5 working days after fees are credited to the Bank account, advising through the designated local Bank or Beneficiary’s Bank. If issuance is declined, full fees are refunded within 7 working days.
9. Advisor emails a copy of the SWIFT Message to the client, completing the transaction.
1. Applicant sends CIS and POF (Bank Statement or Bank Comfort Letter) with Fitch AA-rated bank only.
2. NDA is sent out and, once signed by brokers and the client, the DOA is shared for completion and return.
3. Once approved, within 5 working days, the receiving bank of Lessee issues RWA via Secure Bank Email or Swift MT 199/799.
4. Within 5 working days, the Provider issues an MT-799 Pre Advice confirming readiness to issue SBLC.
5. Within 5 banking days, the receiving bank sends Swift MT-799 confirming receipt and ability to pay fees.
6. The Provider’s issuing Bank issues the Swift MT-760.
7. The receiving bank verifies the Swift MT-760 and sends MT-103 within 5 days to the Provider’s account.
8. If the lease fee is not paid, the Provider instructs the issuing Bank to call back the instrument.
9. Upon receiving the lease fee, the SBLC hard copy is sent to the receiving bank by courier.
10. Transaction successfully completes.
11. No win, no fee.
Monday to Saturday, 10:00 AM – 7:00 PM
Founded with the vision of making financial services accessible and personalized, ALRAED is dedicated to revolutionizing the way individuals and businesses manage their finances.