| CAT 1 – CASH MANAGEMENT STANDARDS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT101 | Request for transfer | MT195 | Queries | |||
| MT104 | Direct debit and request for direct debit | MT196 | Answers | |||
| MT192 | Request for cancellation | MT199 | Free format message | |||
| MT195 | Queries | |||||
| MT196 | Answers | |||||
| MT199 | Free format message | |||||
| CAT 2- FINANCIAL INSTITUTION TRANSFERS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT210 | Notice to receive | |||||
| CAT 3 – TREASURY MARKETS STANDARDS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT300 | Foreign exchange confirmation | MT300 | Foreign exchange confirmation | |||
| MT303 | Forex/Currency option allocation instruction | MT303 | Forex/Currency option allocation instruction | |||
| MT304 | Advice/Instruction of a third party deal | MT304 | Advice/Instruction of a third party deal | |||
| MT305 | Foreign currency option confirmation | MT305 | Foreign currency option confirmation | |||
| MT306 | Foreign currency option confirmation | MT306 | Foreign currency option confirmation | |||
| MT320 | Fixed loan/deposit confirmation | MT320 | Fixed loan/deposit confirmation | |||
| MT330 | Call/Notice Loan/Deposit confirmation | MT330 | Call/Notice Loan/Deposit confirmation | |||
| MT340 | Forward rate agreement confirmation | MT340 | Forward rate agreement confirmation | |||
| MT341 | Forward rate agreement settlement confirmation | MT341 | Forward rate agreement settlement confirmation | |||
| MT350 | Advice of loan/Deposit interest payment | MT350 | Advice of loan/Deposit interest payment | |||
| MT360 | Single currency interest rate derivative confirmation | MT360 | Single currency interest rate derivative confirmation | |||
| MT361 | Cross currency interest rate swap confirmation | MT361 | Cross currency interest rate swap confirmation | |||
| MT362 | Interest rate reset/Advice of payment | MT362 | Interest rate reset/Advice of payment | |||
| MT364 | Single currency interest rate derivative termination/Recouponing confirmation | MT364 | Single currency interest rate derivative termination/Recouponing confirmation | |||
| MT365 | Cross currency interest rate swap termination/Recouponing confirmation | MT365 | Cross currency interest rate swap termination/Recouponing confirmation | |||
| MT390 | Advice of charges, interest and other adjustments | MT390 | Advice of charges, interest and other adjustments | |||
| MT391 | Request for payment of charges, interest and other Expenses | MT391 | Request for payment of charges, interest and other Expenses | |||
| MT392 | Request for cancellation | MT392 | Request for cancellation | |||
| MT395 | Queries | MT395 | Queries | |||
| MT396 | Answers | MT396 | Answers | |||
| MT399 | Free format message | MT399 | Free format message | |||
| CAT 5 – SECURITIES STANDARDS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT502 | Order to buy or sell | MT509 | Trade status message | |||
| MT509 | Trade status message | MT513 | Client advice of execution | |||
| MT517 | Trade confirmation affirmation | MT515 | Client confirmation of purchase or sale | |||
| MT540 | Receive free | MT535 | Statement of holdings | |||
| MT541 | Receive against payment | MT536 | Statement of transactions | |||
| MT542 | Deliver free | MT537 | Statement of pending transactions | |||
| MT543 | Deliver against payment | MT538 | Statement on intra-position advices | |||
| MT549 | Request for statement/Status advice | MT544 | Receive free confirmation | |||
| MT565 | Corporate action instruction | MT545 | Receive against payment confirmation | |||
| MT568 | Corporate action narrative | MT546 | Deliver free confirmation | |||
| MT547 | Deliver against payment confirmation | |||||
| MT548 | Settlement status and processing advice | |||||
| MT564 | Corporate action notification | |||||
| MT566 | Corporate action confirmation | |||||
| MT567 | Corporate action status and processing advice | |||||
| MT568 | Corporate action narrative | |||||
| MT578 | Settlement allegement | |||||
| MT586 | Statement of settlement allegements | |||||
| CAT 6 – METALS MESSAGE STANDARDS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT600 | Metal trade confirmation | MT600 | Metal trade confirmation | |||
| MT601 | Metal option confirmation | MT601 | Metal option confirmation | |||
| CAT 7 – TRADE STANDARDS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT798 | Trade envelope | MT798 | Trade envelope | |||
| CAT 9 – ACCOUNT REPORTING STANDARDS | ||||||
| Corporate to Financial Institution | Financial Institution to Corporate | |||||
| MT995 | Queries | MT900 | Confirmation of debit | |||
| MT999 | Free format message | MT910 | Confirmation of credit | |||
| MT940 | Customer statement message | |||||
| MT941 | Balance report | |||||
| MT942 | Interim transaction report | |||||
| MT996 | Answers | |||||
| MT999 | Free format message | |||||
Glossary Table:
| 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, Pro Forma’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 trasferring moneys between customers of different banks or other similar finantial institutions (ie 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 |