SMARTCORP INC. - Related Links

SMARTCORP INC.

Related Links

World Prime BanksTerm used to describe the top 50 banks (or thereabouts) in the world. Prime banks trade instruments such as world paper, International Monetary Fund bonds and Federal Reserve notes.

Bank Comfort Letter (BCL) All major banks will have their own format and wording and we would not presume to tell them how to do this, nevertheless we offer the following draft which details roughly what we require to be confirmed within the document.

MT799/MT999 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.

MT760 In a SWIFT message "MT" stands for Message Type. An MT760 is a SWIFT message type used to advise the issuance of a Guarantee.

MT103 An MT-103 is a SWIFT document for making payments between banks. MT103 is an improved version of the original MT100 message used to make a single payment and can have a large number of options to describe exactly how the payment should be made. Because it is so flexible, it does not promote Straight Through Processing and has thus been generally superseded by the MT103+ message

"Field 23 - Instruction Code" is where the remitting bank (at the request of the remitter) puts in a simple code instructing the beneficiary's bank how to effect the payment, such as "Credit Account under Advice", "Telephone beneficiary on receipt", "Pay against passport" and such like.

Why SWIFT? SWIFT is a company that operates and manages a network that connects banks and other financial institutions, somewhat like a private, secure internet. Through this network (a.k.a. SWIFTnet) information can be exchanged using special crafted messages known as Message-Types (MT)

Swift and Messages Types

Letter Of Intent (LOI) A written statement expressing the intention of the undersigned to enter into a formal agreement, especially a business arrangement or transaction.

NCNDA These agreements prevent people from doing business outside the distribution channel that exists and must be respected.

Sample Why Not!

THE FACTS ABOUT INTERNATIONAL COMMODITY TRADE

Commercial Invoice

Major Procedure

Terminals (Oil and Petrochemicals )

Maps of Russia Oil and Gas Provinces

SGS Offices Around The World

General DISCLAIMER

SMARTCORP is not a law firm nor are a financial advisor and the attached forms are for example purpose and are not a substitute for the advice of an attorney or a financial consultant. We recommend that you contact an attorney, or financial advisor with any questions you may have regarding commodities or financial transactions. We are not engaged in providing legal or financial advice or representation, nor the information provided through our site to be substituted for the advice of an attorney or financial advisor.

All forms or models in this database are provided without any warranty, express or implied, as to their legal effect and completeness. Forms should be used as a guide and modified to meet the laws in your specific jurisdiction.

IMPORTANT NOTICE

In no event will SMARTCORP nor any of its officers, directors or associates be liable for any damages in any manner, whether direct, indirect, special, general, consequential, or for alleged lost profits, or otherwise that might result from any use of or reliance on these Materials.

Disclaimer of Warranties and Liabilities

THE MATERIALS AVAILABLE ON THE SITES ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL SMARTCORP OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF SMARTCORP, HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR HAS REASON TO BELIEVE SUCH A SITUATION MAY EXIST OR BE LIKELY TO EXIST.

EACH USER OF THIS SYSTEM ASSUMES ALL PERSONAL AND PROFESSIONAL RESPONSIBILITY AND RISK FOR THE USE OF THESE MATERIALS. SMARTCORP AND ITS OFFICERS AND EMPLOYEES DO NOT ASSUME ANY LEGAL LIABILITY OR RESPONSIBILITY FOR THE ACCURACY, COMPLETENESS, OR USEFULNESS OF ANY MATERIAL ON THE SITES. SMARTCORP, WILL NOT BE LIABLE FOR ANY COMPENSATORY, SPECIAL, DIRECT, INCIDENTAL, INDIRECT, CONSEQUENTIAL DAMAGES, PUNITIVE, EXEMPLARY DAMAGES OR ANY OTHER DAMAGES RESULTING FROM LOSS OF USE, DATA, OR PROFITS, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THE MATERIALS, HOWEVER CAUSED, WHETHER FOR BREACH OF CONTRACT, WARRANTY, NEGLIGENCE, OR OTHERWISE, AND WHETHER OR SMARTCORP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

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