EUROS Facilitator - Discount 15 / 10 %

Here are the basic procedures and fee structure that our EURO PR insists on using.  If the USD PR can accept these procedures in principle, then we can proceed.  Essentially, we need the name of the USD PR so that the EURO PR can address his LOI directly to the USD principal (Provider).  Next, the USD PR must agree to sign and return the EURO PR's LOI within 24 hours to start the transaction.

Please note the Buyer's (EURO PR's) basic transaction procedures attached, once we have everything in place with the USD PR (ie. the preliminaries).

The remainder of the EURO Pr's parameters for initiating such a transaction are as per the following:

Subject: Sample Sanitized LOI (USD - EUROS) - DOWNLOAD

In all cases, we have the EURO PR (Buyer of USD) who is looking for a real USD PR (Seller).

We can provide a sanitized copy of the LOI (CLICK HERE), which will be prepared and signed by the EURO PR (BUYER) once we know the following:

(1)  A real USD PR exists and is willing to abide by the terms, conditions and procedures outlined in the attached sample LOI.  The EURO PR is not interested in dealing with a long chain of brokers, hand-shakers, mandates and/or gate-keepers.  Ideally, there should be no more than one person/group between us and the actual USD PR;

(2) The USD PR (seller) agrees to identify himself up front and to comply with the buyer's procedures as per the EURO PR's LOI (attached) by initialling the sanitized LOI and returning it through us to the buyer (EURO PR) within 24 hours of receipt;

(3) There can be no demands for Client Information Sheets (CIS), passport information, buyer's profile, Letters of Attestation or other personal documentation, so that the USD PR can delay the transaction by claiming that he has to conduct compliance or 'due dilligence' on the EURO PR.  All of this information will be made freely available once the principals are put in direct contact with each other.  In other words, the USD PR must be RWA to start immediately;

(4) If the USD PR is RWA to proceed as per above, the EURO PR will send his completed, signed, sealed and fresh-dated LOI, along with all his contact information to the Seller (USD PR).  In order to be able to do so, the EURO PR will need to know the name of the actual Seller (USD PR) so that he can properly address his LOI (the EURO PR will NOT under any circumstances address his LOI to a mandate, gate-keeper, or other intermediary);

(5) The USD PR (Seller) will, within 24 hours of receipt of the EURO PR's (Buyer's) LOI, sign the LOI and return it promptly to the EURO PR through the intermediaries, highlighting any MINOR procedural matters that may need to be resolved.  The EURO PR will NOT entertain any major changes to the procedures outlined in his LOI;

(6)  TTMs are neither required nor desired.  The entire transaction can be conducted on a bank-to-bank or ledger-to-ledger basis by the principals' respective bank officers electronically, using standard SWIFT procedures;

(6) The USD PR must accept the fee structure as detailed in the attached sample contract.  If the USD PR has a mandate, he must agree up front to pay his own mandate out of his share of the discount (ie. his 2.5%);

(7) All intermediaries representing the seller (USD PR) shall form one group with one Paymaster, as will the intermediaries representing the EURO PR.  The EURO PR, as the Buyer, will honor the IMFPA and bear responsibility for paying the names/groups listed on the IMFPA, except for the USD PR's mandate, if one is used.  Once the IMFPA has been submitted to the EURO PR for approval, no substantive changes to the fee structure will be entertained or considered. 

(8)  A summary of the fee structure is as follows:

Discount: 15% Gross/10% Net in favour of the EURO PR (Buyer);

Spread: 5% divided equally 2.5% each to Buyer (EURO PR) and Seller (USD PR), with Seller side CLOSED, except for the USD PR's Mandate;

Buyer's side 2.5% further sub-divided as follows:

(a) 1/3 of 2.5% or 0.84% to the EURO PR Mandate (one Paymaster);

(b) 1/3 of 2.5% or 0.83% to the EURO Facilitators Group (same Paymaster as (a) above); and

(c) 1/3 of 2.5% or 0.83% to the USD Facilitators Group (one Paymaster).  This group would include all those between in the USD PR's Mandate, including my group (2 People).