PROCEDURE
THE CLIENT SUBMITS A COMPLETED APPLICATION TO PURCHASE THE INSTRUMENT AS PER THE TERMS OF THE
PROGRAM.
THE CLIENT RECEIVES A PURCHASE AGREEMENT FOR THE INSTRUMENT FOR THEIR ACCEPTANCE.
UPON ACCEPTANCE OF HE TERMS OF THE SAID AGREEMENT THE CLIENT EXECUTES THE AGREEMENT AND
PLACES A 55,000 EURO DEPOSIT WITH THE DESIGNATED INDEPENDENT ESCROW FACILITY.
UPON RECEIPT OF THE DEPOSIT BEING CONFIRMED BY THE ESCROW FACILITY — THE TRANSACTION IS THEN
ACTIVATED.
THE PROVIDER CONTACTS THE CLIENTS BANK IN ORDER TO QUALIFY THE TRANSACTION.
ONCE THE TRANSACTION IS QUALIFIED, DELIVERY OF THE INSTRUMENT IS ARRANGED BANK-TO-BANK.
BANK-TO-BANK DELIVERY IS EFFECTED VIA MT760 FOR VERIFICATION OF THE INSTRUMENT.
THE INSTRUMENT IS DELIVERED & PAYMENT BECOMES DUE WITHIN 5 DAYS FROM DATE OF INVOICE.
INSTRUMENT IS CONFIRMED AND PAYMENT IS REMITTED AND THE BALANCE IS DUE ON OR BEFORE 350 DAYS
FROM DELIVERY
EXPLANATION
UNDER THIS PROGRAM THE CLIENT EFFECTIVELY PURCHASES THE INSTRUMENT FOR 115%. AN INVOICE IS
DELIVERED TO REFLECT THE 115% COST OF THE INSTRUMENT WITH NO COMMISSIONS INCLUDED.
THE CLIENT AGREES TO REMIT A 15% DOWN PAYMENT SUBJECT TO DELIVERY & VERIFICATION OF THE BANK
INSTRUMENT IN THEIR ACCOUNT.
THE INSTRUMENT IS DELIVERED INTO THE CLIENTS ACCOUNT, HIS BANK VALIDATES THE INSTRUMENT AND THE
15% DOWN PAYMENT IS REMITTED
THE CLIENT IS GIVEN TITLE TO THE INSTRUMENT.
THE INSTRUMENT CAN BE USED AT THE DISCRETION OF THE CLIENT AND HIS BANK, SUBJECT TO THE BALANCE
OWING FOR THE INSTRUMENT BEING PAID ON OR BEFORE DAY 350. SO IN ESSENCE THE CLIENT PAYS 15% DOWN
PAYMENT AND HAS THE FULL USE AND LEVERAGE THE INSTRUMENT FOR 50 WEEKS (350 DAYS) BEFORE HE IS
REQUIRED TO PAY FOR IT.
MOST IMPORTANTLY IT MUST BE NOTED THAT THE INSTRUMENT HAS A MATURITY OF 365 DAYS AND IF THE BANK
WAITS FOR ANOTHER 15 DAYS (350 +15=365) THEY CAN CASH OUT THE INSTRUMENT AT ANY ACCREDITED BANK
FOR FULL MATURED (FACE) VALUE AND REPAY THE PROVIDER WITH THE MONEY RECEIVED FROM THE
SETTLEMENT OF THE INSTRUMENT.
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