Document submission by the beneficiary
Client Information Sheet (CIS), signatory's passport copy, corporate registration, bank statements (less than two weeks old), bank officer business cards, proof of funds (POF) and/or credit line facility, and a project summary justifying the use of the collateral.
Due diligence & Term Sheet issuance
Upon receipt of all documents, Torus Group conducts due diligence (DD) and, if positive, provides the Term Sheet (TS) to the beneficiary/receiver.
Term Sheet signature & Bank Confirmation Letter
Upon receipt of the signed TS, Torus Group provides an official Bank Confirmation Letter (BCL) forwarded from the bank's email domain, confirming the capacity and willingness to issue the required instrument.
Application cost settlement
Within three (3) banking days of receiving the Torus Group BCL, the beneficiary/receiver settles the application cost as per the invoice provided, and forwards a fully verifiable official BCL confirming the capacity to receive and fund the bank instrument.
Deed of Agreement (DOA) signature
Torus Group and the beneficiary/receiver sign and stamp the Deed of Agreement, which automatically becomes a full-recourse commercial contract officially lodged in the banks of all parties.
SWIFT MT799 pre-advice
Torus Group's bank issues the SBLC MT-799 pre-advice to the beneficiary/receiver's bank; a copy is sent to the beneficiary within seventy-two (72) banking hours from issuance.
MT799 answerback response
Within five (5) banking days of receiving the MT-799 pre-advice, the beneficiary/receiver's bank replies with a SWIFT MT799 answerback message confirming its capacity to receive and fund the instrument, as agreed in the DOA.
SWIFT MT760 issuance
Within five (5) banking days of confirming the beneficiary's MT-799 answerback, Torus Group's bank issues the SBLC via SWIFT MT760, and Torus Group simultaneously issues its corporate invoice for the yearly interest fees.
Yearly interest fee settlement
Within seven (7) calendar days of receipt and authentication of the SWIFT MT-760 SBLC by the receiving bank, the receiver/beneficiary proceeds with the agreed yearly interest fee payment to the nominated bank account via SWIFT MT103.
General Term Sheet — summary of conditions
Standard indicative conditions applicable to a Collateral Transfer Agreement / SBLC, subject to due diligence and final bank approval.
| Bank instrument | Standby Letter of Credit (SBLC) |
|---|---|
| Purpose | Collateral Transfer |
| Application rule | UCP 600 / ISP 98 |
| Wording | As agreed |
| Issuer | Torus Group Ltd |
| Issuing bank | Deutsche Bank — Frankfurt |
| Receiving bank | Top 50 from approved countries |
| Face value | €10,000,000.00 to €500,000,000.00, or USD equivalent |
| Application cost | 0.17% of the bank instrument face value, with a minimum threshold of €170,000.00 or USD equivalent |
| Validity | One year and one month |
| Yearly interest | 8% to 13% of the bank instrument's face value (upon due diligence and market) |
| Term | Operative, irrevocable, assignable & transferable |
| Delivery | Pre-advice SWIFT MT799 followed by SWIFT MT760 |
| Payment terms | By SWIFT MT103 within 7 (seven) calendar days after receipt and confirmation of SBLC SWIFT MT760 |
Begin with the questionnaire
Submit your CIS, project summary and proof of funds through our structured questionnaire to initiate due diligence.
Complete the questionnaire