Atlas West USA, LLC also specializes in bank instrument monetization. We monetize Standby Letters of Credit and Bank Guarantees for up to $5 B value. We work together with top banks such as J.P. Morgan Chase, Bank of America Meryll Lynch, Bank of Oklahoma, Barclays Bank, HSBC London, and a number of financial institutions, both in the United States and Europe.
Our procedure for monetization is as follows:
1- Client submits Draft Bank Instrument with CIS/KYC paperwork filled out with authorization to verify instrument from issuing bank.
2- Verification process.
3- Once verified, a contract is drawn, detailing the terms of the monetization.
4- Client signs contract and instructs his bank to send an RWA MT799 to our receiving bank.
6- Client’s bank swifts the MT760 to our bank following the pre-advice MT799.
7- Our bank takes up to 72 hours to verify the MT760.
8- Upon verification, the monetization process starts and could take 21 business days from confirmation date.
9- Monetization funds are disbursed by then.
10- The bank instrument must be valid for a period of at least one (1) year and one (1) day from date of issue.
Note: All bank instruments with a value of at least US$100 Million will qualify for a non-recourse loan. All instruments with a value below $100 M will be negotiated on a case-by-case basis.