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BANK GUARANTEE PROCEDURES

BANK GUARANTEE PROCEDURES

Process and Payment Structure for the submission and delivery of a Bank Guarantee (BG) from EDIB International Limited.

 

Step 1:

 

An application is made to EDIB International for the opening of a BG including but not limited to the following:

 

  1. BG application form.

  2. BG indemnity signed

  3. The desired verbiage of BG (If none provided EDIB will provide its standard BG verbiage).

  4. SWIFT code and address of beneficiary/receiving bank.

  5. KYC and AML documents including but not limited to:

  1. Passport copy of applicant.

  2. Articles of incorporation of applicant company and a brief summary and/or business plan of the underlying transaction.

 

Step 2:

 

EDIB account manager will review all documents presented and evaluate the acceptability of documents. EDIB then either approves an application or advises the client by email that their application has been rejected.

 

Step 3:

 

EDIB prepares a draft of the BG to the client for approval. All drafts shall be in line with rules and regulations governing the issuance of a BG.

 

Step 4:

 

The client approves the draft and:

 

  1. Signs a contract agreeing to the terms and conditions of issuance and issuance charges as negotiated.

  2. EDIB issues the invoice for the agreed upon charges.

 

Step 5:

 

The client makes payment of charges as per agreed upon.

 

  1. The client is to provide a copy of payment made to EDIB account.

  2. EDIB will confirm to client credit of funds upon receipt of funds to EDIB account.

 

Step 6:

 

EDIB provides a copy of the final draft to the applicant for final approval of message. Upon approval given by the applicant, EDIB delivers the SWIFT to beneficiary bank coordinates.

 

Step 7:

 

Copies of SWIFT are then forwarded to the client via email.

 

 The following is the procedure for making payment.

 

  1. Fees are paid before the issuance of each SWIFT message.

  2. If a Pre-advise is needed.  Additional charges will be required.

  3. EDIB will only accept cash payment.  NO ICBO’s or Escrow.

  4. If EDIB fails to deliver the instrument as agreed upon, SCB shall return the fees paid for that delivery.

  5. If after the pre-advise is issued the client does not proceed to deliver the MT760 BG.  The charges for the MT760 BG will be returned.  Charges for the pre-advice will stand.

  

All charges will be agreed upon between client and their account manager and stated in a contract.

EDIB International Conact Us
CONTACT US

Tel: 0207 030 3336

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Email:   info@edibinternational.com

 

25 Canada Square,

Canary Wharf,

London, 

E14 5LB

ABOUT US

EDIB International was formed in 2015 and launched 2016. We are a private Asset Management company born from the merger of four companies from Europe, UAE, China and Hong Kong.

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>USD 250 billion AUM Pre-IPO when acquisitions completed.

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EDIB International is a pioneering international Asset Management specialist involved in the structuring, planning and financing/investments in emerging markets, Africa, The Caribbean, Asia and South America

ADDRESS

Email: info@edibinternational.com

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Nathan Road Tsim Sha Tsui

Kowloon

Hong Kong 

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GET IN CONTACT

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