What is the process of applying for a letter of credit with MA services?

• The Client provides copy of the contract OR submit application along with the KYC documents
• NDA will be signed by the Client
• A copy of draft instrument to be given for the Clients’ review and approval ( to share with the Beneficiary or Beneficiary’s Bank for their acceptance of the draft text of the instrument)
• Client signs the draft as their acceptance of the instrument text (If approved)
• Advisors sign the contract with client and client will provide additional KYC documents, as specified by the Bank
• Client wires opening fees to Advisor’s bank account as per the invoices raised by the Advisors.
• Client signs Indemnity Agreement with the Provider of the Instrument
• Provider releases instrument to Bank for issuance
• Assuming no further KYC questions, Bank issues SWIFT instrument within 7 to 10 working days.
• Advisor emails a copy of SWIFT MESSAGE to client
• Thus completing the transaction