COOPMONTAJZ

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STANDBY LETTER OF CREDIT APPLICATION ONLINE FORM

    By clicking “SUBMIT”, you confirm that you are in agreement with the Terms below.

    March 5th, 2025

    Process and Payment Structure

    Documentary Letter of Credit (DLC)

     
    The following outlines the standard process for submitting and issuing a Documentary Letter of Credit (DLC) through COOPMONTAJZ.
     
    Step 1: Application Submission
    To apply for a DLC, clients must submit the following:
    1. DLC Application Form – Provided by COOPMONTAJZ upon request.
    2. Proforma Invoice – Detailing the transaction.
    3. DLC Verbiage – If none is provided, COOPMONTAJZ will use standard language.
    4. Beneficiary Bank Details – Including the SWIFT code and bank address.
    5. KYC & Compliance Documents – This includes a valid passport copy of the applicant, company incorporation documents, and a brief description or business plan for the transaction.
    Step 2: Application Review
    COOPMONTAJZ will carefully review the submitted documents. If approved, the applicant will be notified. If denied, COOPMONTAJZ will provide an explanation.
     
    Step 3: Draft Preparation
    Once approved, COOPMONTAJZ will draft the DLC according to banking regulations and send it to the client for review.
     
    Step 4: Client Approval & Agreement
    After reviewing the draft:
    1. The client signs an agreement confirming the terms, conditions, and issuance fees.
    2. COOPMONTAJZ issues an invoice for the agreed-upon charges.
    Step 5: Payment Processing
    The client must submit payment as follows:
    1. A wire transfer (TT) confirmation must be provided.
    2. COOPMONTAJZ will confirm receipt of funds upon credit.
    Step 6: SWIFT Transmission
    COOPMONTAJZ will upload the final DLC draft to the SWIFT system and send it to the client for approval. Once confirmed, COOPMONTAJZ will release the SWIFT message to the beneficiary bank.
     
    Step 7: Document Delivery
    The client will receive copies of the released SWIFT message via email or hard copy, depending on their preference. If the client has an advisor, documents will be sent directly to them.
     
    Step 8: Amendments
    Any modifications to the DLC will require the approval of COOPMONTAJZ.
     
     
    Payment Terms & Conditions
    • All fees must be paid before any SWIFT message is issued.
    • COOPMONTAJZ does not participate in joint venture (JV) payment structures and will not process any request without upfront payment.
    • Payment via Irrevocable Conditional Bank Pay Orders (ICBPO) is not accepted.
    • If COOPMONTAJZ cannot deliver the agreed-upon instrument, the associated fees will be refunded.
    All terms, conditions, and fees will be outlined in a formal contract.