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October 12, 2009 All Information Subject To Change Without Notice |
Greetings!
You may be receiving this for the first time, and if so, welcome. Your name was identified to us as having some involvement in the buying and selling of bank instruments, and we thought this information might be of interest to you. If it is not the case and we've missed the boat entirely, or we were in error, please Unsubscribe at the bottom, and accept our apologies.
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Who Really Is To Blame
For Failed Transactions?
This past week I have been pondering the question above. Stepping back from the heat of the moment in any given potential transaction, the real truth struck me: Everyone is to blame!
If you look at this very small, but extremely important, niche business, each party is to blame for a failed deal. The Seller, The Buyer, and The Intermediary Broker.
There are various ways that each party or principal ends up killing a potential transaction, and the purpose is not to point fingers, but to find a solution that will allow each party to feel safer and more secure. In a safer, secure environment where privacy, candor and truth can be brought to the table, each player can let their guard down a bit more, thereby opening up the real bottom line to making a deal.
In past issues of this newsletter (click for archives) we have discussed some of the transactions killers or behavior that have been done by both Buyers, Sellers and Brokers. Much of that ground has already been covered in the past.
The question I usually ask at this point is, "What do we want to have happen here?". Do we want to continue with this dysfunctional, insane environment? Or is it time to create a new, safe and secure system to allow a truthful, genuine, discreet and confidential exchange between principals?
Months ago, I cam up with an idea to create a separate, arms-length service that would first allow a principal buyer and a principal seller to be 'vetted' and compartmentalized. What that means is a 'firewall' between the buyer and the seller protecting a disclosure of each party's sensitive information to the other, until a transaction was ready to begin.
This safety-net would keep each principal's information and secure, sensitive documentation, out of the hands of prying eyes and those who would spread it around the Internet.
It would be the creation of a secure, 'stock exchange' type of operation, where the buyer principal and seller principal would each own an account managed by an oversight entity, the board of the Paper Exchange (I would name it PExchange (pexchange.net), and each party would subscribe to this service where a secure account would be created with all of the required documentation that both sides of a transaction would expect of the other.
While this idea has been floating around in my head for some time, it seems to be the only way we as an industry can overcome the current stagnation and confluence of factors that cause deals to fail on all sides of the transaction triangle.
What do YOU think of this as a new approach to cutting away the behaviours that kill potential deals?
What might you want to see as features of this new PExchange?
If created, would you consider becoming an early supporter of it?
These are questions, among others, that must be answered before taking any further steps to its creation. Of course, it will take time to create and build this into a reputable, secure, and trustable service. But unless we as an industry take positive steps to do something, we will continue with the insanity we all find ourselves in.
Your feedback is welcome and encouraged. |
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New Sources... Everyday!
In spite of setbacks from providers who decide not to provide (see the column to the right), each day brings forward closer relationships to more genuine providers. The word is getting out that we won't tolerate broker fraud, misrepresentation or interference in having direct communication with a principal buyer. We also will reveal some of the tricks we have seen from certain providers who have allowed us to bring in legit buyers, only to pull a 'bait and switch' on them. Ethics and integrity can be missing regardless of the transaction triangle side you may be working on.
Until we have our own screens where we can check instrument offers and buyer's funds, we are at the mercy of the principal buyer or seller to run those due diligence checks. But that won't stop us from sourcing new principal sellers continuously.
Although confirmation won't be in until after publication of this newsletter, we believe we have been brought into a genuine provider's house, and early indicators of this new relationship are very positive. But there is no point waving the flag until the deal is done and the fees are in the bank, is there? |
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For The Principal Owner Of BG's and MTN's
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If you own paper and would entertain selling it, we invite you to email your model LOI with the instrument specifications. In the event someone is looking for something fitting the description, please include your desired procedures. The list of people potentially interested in speaking with you about your paper(s) is ever- growing. As an information exchange service, we put the Principal players together and stand aside. We deal only with the Principal or the Authorized Agent/Rep.
If you need to see some sample formats of documents that you would typically use-- again for informational purposes only- we have prepared a set that can be yours for downloading here.
If You Do NOT Yourself Own A Instrument, Please Do Not Reply To This! This is For Owner's Only. |
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Placing Cash, a Bank Guarantee, or MTN
Directly Into a PPP WITHOUT MOVING IT!
Each program manager has his or her own specific strategy. We are fortunate enough to be in touch with a number of them. Shoot us an email for more details. info@pccfunding.com
If you have assets other than cash to put into a program, you must send front and back copies of the instrument and proof of ownership along with a non-solicitation letter. OR, if you can get a SKR (Safe Keeping Receipt) from a major Top 25 European or Canadian Bank, that can be used as well. It must be a western European, Canadian or US bank. |
 Leased Instruments
Collateral for Credit Facilities
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG)/SBLC, MTN etc
2. Total Face Value: Euro 5M MIN and Euro 50B MAX (Fifty Billion Euro/USD).
3. Issuing Bank: HSBC London, Barclays Bank London or AAA rated Bank in Western Europe or USA.
4. Age: One Year, One Day
5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers to be shared 50/50 between the brokers on both Lessor/Lessee side
6... Delivery SWIFT TO SWIFT. PRE ADVICE FIRST
7. Payment: Wire Transfer./MT103/23
8. Hard Copy: Bonded Courier within 7 banking days...
Note that our Leased BG/SBLC is fresh Cut Cash Backed and will be issued in the LESSEE'S NAME. This Provider will not change his procedure, so be aware.
TRANSACTION PROCEDURE:
1. Lessee must read and accept this PROCEDURE very carefully in order to understand the content therein; especially in paragraph 2, 3 4 5 and 6. Only upon acceptance of this deed of agreement contract should Lessee enter into agreement with Lessor. On no account must Lessee sign these documents without accepting the terms and conditions as stated in the document. Lessor and Lessee execute, sign and initial this Deed of Agreement which thereby automatically becomes a full commercial recourse contract for 5yrs.
2.Within 3 days after both parties sign the Agreement and returned the agreement to Lessor , Lessor's then will issue on his full company letter headed a signed and stamped Corporate Refund Recourse Undertaking letter and an invoice to the Lessee guarantying to refund Lessee all the cost incurred by Lessee for the bank transmission charges /pre advice fee and . If the Lessor bank fail to deliver MT799/MT760/MT700 by swift as the Lessor and Lessee have agreed on the deed of agreement contract.
3. Within 3 working days after Lessee receives Lessor's signed and sealed Corporate Refund Recourse Undertaking and the invoice Lessee will make payment by wire transfer into the Lessor's bank account for the bank transmission charges/pre advice to trigger by swift the BG/SBLC MT799 MT760/MT700
4. For Lessor's bank to trigger MT799/ MT760/ MT700 via swift to Lessee's bank account, Lessee must pay for bank transmission charges fees/pre advice upfront. All bank transmission charges/pre advice fees are refundable upon returning of the instrument after expiration of one year and one day
5.Within Three (3) banking days after confirmation of receipt of payment of the bank transmission charges for the BG/SBLC MT799/MT760 MT700 swift in Lessor's bank account, Lessor bank auditors will Open a communication by swift to swift to Lessee bank confirm from Lessee bank if Lessee bank account is fit to receive MT760 by swift after confirmation of that, Lessor will instruct his bank to deliver the BG/SBLC via bank confirmation by swift BG/SBLC MT760/MT799 MT700 to the Lessee's bank account after Lessee confirmation.
6. Lessee will instruct his bank to make payment by wire transfer to Lessor bank account after Lessor confirm his money into his account then Lessor Will transfer brokers fee to brokers giving bank account, Lessor bank will deliver the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days..Should Lessee default to pay the leasing fees to the Lessor and the brokers commission fees as agreed after 7 banking days of confirmation of SBLC MT760 in Lessee's bank account, Lessor will instruct the issuing bank to put a claim on the SBLC/BG thereby forcing the Lessee's bankers to return the BG/SBLC MT799/ MT760/ MT700 to the issuing Bank.
Once you agree and accept, and are RWA to perform, we can start closing next week.
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The Survey Says....
We'd like to know how we're doing in providing this newsletter as a service to the industry. Would you take a moment to complete a survey? Click here.
Thank you to those who have taken the time to complete the survey. The responses thus far have been enlightening and useful, and are guiding us to incorporate several of the suggestions already.
For example, a very large percentage of readers seem to prefer this newsletter be delivered on Monday mornings. For the last two issues, that is when it has been sent out (early Monday morning or Sunday night) to honor this request.
Some have asked for a "Dear Abby" type of column. And others have wondered what the author of this newsletter is doing with all the people who are receiving this.
(Answer; I'm using it to market and create a community where better behaviors amongst all will result in a cleaner, clearer and more business-like envirnoment for the exchange of paper and money...and damn proud and glad to do it! -mw).
Some have written to request a Classified section for people requesting joint ventures, etc to post a small ad. (Under consideration, maybe).
A couple of others would like to have more educational articles about the business to be better informed.
All good suggestions, and once the number of responses reaches the number we have set, we will post the responses in a future newsletter.
Thanks for sharing your thoughts.
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How We Work
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Rules Of Engagement |
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FIRST RULE:
NO PHONE CALLS!!!
EMAIL IS THE BEST WAY TO START A CONVERSATION!
SECOND RULE:
NO BROKERS OR INTERMEDIARIES WHO ARE NOT DIRECT! NO CHAINS WHATSOEVER!
If The Person You Are Talking To CANNOT WRITE A CHECK OR SIGN A CONTRACT.... Please Do NOT Waste Time.
Unfortunately, it seems to be a regular occurrence where people claim to have the ability to deliver a product and truly don't... most of the time due to their misrepresentation, some of the time due to circumstances beyond their control.
In order to effectively put a Principal buyer together with a specific opportunity, we ask each buyer to complete the downloadable request form-a "wish list" if you will, for each of the paper they are looking for.
The more specific the description of the instrument the buyer wants, the closer we can come to finding them what they are looking for. Otherwise, it's like walking into a grocery store filled with thousands of items and asking someone to 'show me what you got'. Waste of Time.
As buyers and sellers come together, they can be directed to each other when there is a fit that is close, or exact. If you know where you are going, getting there is a lot easier.
For legal reasons as mentioned above, paper sellers want to see the Buyer prepare either a Letter of Request or an LOI.
Some Buyers ask that the Seller provides some kind of letter or ISIN or CUSIP numbers. What they don't realize by asking that is they ask the Seller to SOLICIT an offer. Until a Seller has cleared the Buyer and his/her money, and provided a non-solicitation statement, the Seller can be looking at fines or jail time.
The Sellers are very cautious about this, even if the particular instrument is not subject to Solicitation rules. They tend to err on the side of caution.
This opens the door for a conversation once the seller has had a chance to look over the buyer's request and do a quick due diligence check. It helps even more if a Non-Solicitation Letter or clause is included to better ensure compliance.
Because the owner of an instrument is prohibited by law from soliciting, or appearing to solicit, someone to buy their paper, all initial interest in it must FIRST start from the buyer.
The seller cannot send out a LOI or other documents without first having been approached by the buyer prospect.
So many buyers want to see the seller's LOI first, they don't realize they are actually asking for the seller to break the law!
This is many times the reason a buyer is unsuccessful.
Without even knowing it, they have demonstrated a lack of understanding of the manner in which a transaction is facilitated, and sent that message to the seller, who naturally will decline any reply or response.
The role that I play is to facilitate the information about a buyer to an owner or seller of the paper desired, which helps overcome the issue of putting the seller at legal risk for being seen as soliciting.
If I am not acting as the principal in the deal, simply providing the opportunity for a meeting of the minds with a buyer/seller is much like posting a "Want to Buy" notice, and having that delivered personally directly to a possible opportunity.
As of last week, I am DIRECT to several platforms managers and owners as well as certain banks. I am connected generally either to the provider's representative, or rarely no more than 1 away.
In the case where other intermediaries might be involved in bringing the end buyer to the table, they must stand back immediately and allow for direct conversations to be facilitated with the buyer principal. However, if there is a chain of more than one broker between the Principal and you, we will most likely not be interested in discussing it.
Group conference calls and broker interference in any way automatically kill the deal. If there is no one on the phone who can sign a contract or write a check, there is no reason to talk.
Compensation is generally broken into two categories: Full Share and Referral Group.
A Full Share of a box may be shared by those who are doing the heavy lifting in a deal, versus those would be considered a Referral Fee recipient-making a phone call or email to introduce the parties is not an entitlement to a full share of a box. | |
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BGMTN.COM:
An Information Service of PCC Funding
News, Views, Opportunities, Opinion.
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Due to widespread fraud perpetuated by certain brokers, sellers and buyers, the information contained in this newsletter is provided with the caveat that all Principal parties are warned to beware and verify any items in this newsletter. This newsletter is a compilation of experiences and observations of the writer, and are not intended, nor to be mistaken, for legal or financial advice. Unfortunately, the industry has become fraught with individuals of questionable ethics and behaviors, so each reader must take responsibility for their own due diligence. Should you find a gross inaccuracy in one of the items, it is appreciated if you would let us know so it can be further researched and, if necessary, retracted, corrected, or validated. |
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NEW: CMO's Collateralizable for PPP
We have been introduced to a private placement program that will accept Collateralized Mortgage Obligations (CMO's) for bank paper buy sell programs.
Here is what the Provider has:
- Min 1-B;
- LTV 10-30% conservatively based on CMO quality.
- Can be placed in 40 week program OR credited as a deposit to facilitate an MTN transaction.
- CMO must be assigned and delivered to the Platform/Provider via DTC or Euroclear
- Full submission is required along with complete and current DTC or Euroclear Screen Shots and an account statement in the client's name showing the same CMO on deposit.
PRINCIPAL OWNERS OF CMO'S ONLY! MORE INFO IS PROVIDED TO QUALIFIED PRINCIPAL OWNERS OR POA. |
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How Embarrasing! A Seller Who Decides He Doesn't Want To Sell!
One of our seller's put us in a bad position this past week. Perhaps you have had this happen to you.
The seller, a trade manager for a platform, first says he has plenty of paper at various ages and prices for sale. Everything looked good: the price, the offer, and so forth.
Now this seller offered 3 different options for procedures, however the buyer's who submitted kept putting in their own procedures instead of following this traders' firm conditions.
Despite telling the buyer's that these procedures were unchangeable, they changed them anyway. So guess what happens? The Seller turns them all down, THEN decides he doesn't want to sell any more paper, only put client's into PPP's.
Now, who caused the problem? (No, it's not a pop quiz).
The answer is, BOTH party's.
Why?
The seller expressed clearly his exact procedures under which he was willing to sell. OK so far.
The buyer's submitted procedures and modified them to suit their own peculiar requirements. First mistake, and the first sword in slaying the deal.
The seller responds turning away the deal, naturally. The final death blow to the deal.
So, why is it the seller's fault also?
The seller is within his own right to turn away the offer from the buyer because it does not match his criteria. But the seller is in the business of selling paper, is he not? Where the seller went wrong was by not being flexible to see what the buyer's (there were about 5) wanted in the way of procedures.
It is an old rule in a service business (which is what we are in here): If one buyer comes in and asks for something a certain way, it is the seller's job to make sure that the next buyer with a similar request can be accomodated. IF, of course, the seller really wants to sell paper.
Two Wrongs make a dead deal. Nobody wins. And that's how it goes every day.
If we expect to clean up the distortion, lies, mistruths, fraud and everything else that is poisonous to good clean transactions, the two main parties need to start being more accomodating. Unless we enjoy the frustration, anger, resentment and withdrawing into our caves empty-handed.
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This Week's Offers
(PCC IS DIRECT TO THE SELLER REP)
Medium Term Notes: Description of Instrument:
Instrument: Medium Term Note (MTN) - Exhibit "A"
Age: Fresh Cut, Slightly Seasoned & Seasoned
Interest Rate: Zero Percent (0%)
Term: One (1) Year and One (1) Day
Issuing Banks: HSBC BANK LONDON and Other Top 25 Banks
Currency: EURO/USD
Contract Amount: PLEASE STATE AMOUNT
Emission Rate: FC 31+1% / SS 64+1 / SEAS 80+1 Percent of MTN Face Value
Commission: one Percent (1%) of Face Value for Split 50/50 Seller's side,
and Buyer's side
Mode of Payment: SWIFT MT-103/MT760
Delivery: SWIFT MT-760 only followed by Hardcopy to be delivered via Bank courier within seven (7) banking days.
TRANSACTION PROCEDURES
SELLER PROCEDURES-UNCHANGEABLE!
1. Buyer sends letter of intent (LOI) to the Seller. The LOI should contain copies of Buyer's passport, Company's resolution and Client's Information Sheet (CIS), Company Registration and IMFPA.
2. Seller countersigns this LOI and returns to Buyer with seller's company registration and signatory's passport, and this LOI automatically becomes a full commercial recourse contract. Both parties shall lodge the executed contract to their respective banks.
3. After both sides sign the contract, within 3 banking days, Seller's bank will send MT-199/799 (Exhibit B1) to Buyer's bank to verify Buyer's capability to receive the said MTN, Buyer's bank reply MT-199/799(Exhibit B2) to confirm that the buyer has full capability to receive the said MTN and able to complete the transaction which can be verified by the Seller. Buyer will incur Bank charges for swift MT799 transmission to their bank account.
4. Within Five (5) banking days upon successful verification of buyer's capability to receive the said MTN, Seller's Bank sends Pre-Advice of Bank Guarantee full information by SWIFT MT-799 to Buyer's Bank. On receipt of the SWIFT MT-799, Buyer's Bank starts verification with Seller's Bank, inclusive of confirming delivery of the MTN upon satisfactory verification.
5. Within three (3) banking days the Buyer will arrange their paying bank to deliver Irrevocable Conditional Bank Pay Order ("ICBPO") by Swift MT-103/23 in favor of Sellers designated parties to pay the required funds.
6. Within Five (5) banking days upon the arrival of Swift MT-103/23 ICBPO successful verification, Seller's bank will deliver the Bank Guarantee via Swift MT-760 to Buyer's designated receiving bank coordinates.
7. Upon successful verification and authentication of the Swift MT-760 of the MTN, the Buyer's bank will remit the full amount as stated in the ICBPO within Three (3) banking days via Swift to pay the required fund.
8. Within seven (7) banking days after receiving the funds as per ICBPO, the issuing bank sends the original hard copy of the MTN to Buyer's bank by bank-bonded courier.
9. Any unauthorized calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited.
10. This Letter of Intent is a full recourse commercial commitment governed by the Law of the jurisdiction that both parties reside. This LOI is also governed by the standard under ICC Regulation.
Buyer's Obligations:
The Buyer, with full corporate and legal responsibilities, and under penalty of perjury, confirms that he is fully aware of his financial ability and facilities with his bank when signing this LOI and/or other agreements and documents with the Seller.
The Buyer further confirms that the Seller is authorized to verify the funds of each tranche of the Contract with his bank, if necessary. In the event of unsatisfactory verification, the transaction will be suspended immediately and the Buyer is in breach of the Contract and liable for legal consequences.
Seller's Obligations:
The Seller with full corporate and legal responsibilities, and under penalty of perjury, confirms that he is fully aware of the commitment of the Instruments when countersigning this LOI.
The Seller further confirms to deliver the instruments, to negotiate and make proper arrangement with the provider to continuously supply the instruments until the whole contracted volume is exhausted.
There will be no contact by either party to either bank without expressed written permission. Both parties may change banking coordinates with written notice to the other party.
Bank Guarantees
Description of Instrument:
Instrument: Bank Guarantee (BG) - Exhibit "A"
Age: Fresh Cut & Seasoned
Interest Rate: Zero Percent (0%)
Term: One (1) Year and One (1) Day
Issuing Banks: HSBC BANK LONDON and other Top 25
Currency: EURO/USD
Contract Amount: PLEASE STATE AMOUNT
Emission Rate: FC 57+1% Percent of BG Face Value
Commission: one Percent (0.5%) of Face Value for Seller's side,
one Percent (0.5%) of Face Value for Buyer's
Mode of Payment: SWIFT MT-103/MT760
Delivery: SWIFT MT-760 only followed by Hardcopy to be delivered via Bank courier within seven (7) banking days.
TRANSACTION PROCEDURES
SELLER PROCEDURES- NOT CHANGEABLE
1. Buyer sends letter of intent (LOI) to the Seller. The LOI should contain copies of Buyer's passport, Company's resolution and Client's Information Sheet (CIS), Company Registration and IMFPA.
2. Seller countersigns this LOI and returns to Buyer with seller's company registration and signatory's passport, and this LOI automatically becomes a full commercial recourse contract. Both parties shall lodge the executed contract to their respective banks.
3. After both sides sign the contract, within 3 banking days, Seller's bank will send MT-199/799 (Exhibit B1) to Buyer's bank to verify Buyer's capability to receive the said BG, Buyer's bank reply MT-199/799(Exhibit B2) to confirm that the buyer has full capability to receive the said BG and able to complete the transaction which can be verified by the Seller. Buyer will incur Bank charges for swift MT799 transmission to their bank account.
4. Within Five (5) banking days upon successful verification of buyer's capability to receive the said BG, Seller's Bank sends Pre-Advice of Bank Guarantee full information by SWIFT MT-799 to Buyer's Bank. On receipt of the SWIFT MT-799, Buyer's Bank starts verification with Seller's Bank, inclusive of confirming delivery of the BG upon satisfactory verification.
5. Within three (3) banking days the Buyer will arrange their paying bank to deliver Irrevocable Conditional Bank Pay Order ("ICBPO") by Swift MT-103/23 in favor of Sellers designated parties to pay the required funds.
6. Within Five (5) banking days upon the arrival of Swift MT-103/23 ICBPO successful verification, Seller's bank will deliver the Bank Guarantee via Swift MT-760 to Buyer's designated receiving bank coordinates.
7. Upon successful verification and authentication of the Swift MT-760 of the BG, the Buyer's bank will remit the full amount as stated in the ICBPO within Three (3) banking days via Swift to pay the required fund.
8. Within seven (7) banking days after receiving the funds as per ICBPO, the issuing bank sends the original hard copy of the BG to Buyer's bank by bank-bonded courier.
9. Any unauthorized calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited.
10. This Letter of Intent is a full recourse commercial commitment governed by the Law of the jurisdiction that both parties reside. This LOI is also governed by the standard under ICC Regulation.
Buyer's Obligations:
The Buyer, with full corporate and legal responsibilities, and under penalty of perjury, confirms that he is fully aware of his financial ability and facilities with his bank when signing this LOI and/or other agreements and documents with the Seller.
The Buyer further confirms that the Seller is authorized to verify the funds of each tranche of the Contract with his bank, if necessary. In the event of unsatisfactory verification, the transaction will be suspended immediately and the Buyer is in breach of the Contract and liable for legal consequences.
Seller's Obligations:
The Seller with full corporate and legal responsibilities, and under penalty of perjury, confirms that he is fully aware of the commitment of the Instruments when countersigning this LOI.
The Seller further confirms to deliver the instruments, to negotiate and make proper arrangement with the provider to continuously supply the instruments until the whole contracted volume is exhausted.
There will be no contact by either party to either bank without expressed written permission. Both parties may change banking coordinates with written notice to the other party.
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Q and A
Why should a MT103/23
NOT Be An Issue
For A Buyer?
It is true that some sellers will use the buyer's MT103/23 to take down the paper. My question to the buyer is, "So What?"
If the buyer is getting paper at the price he accepts, and then gets the paper, why should he care that the seller is actually being smart and using Other People's Money to make a deal happen?
Buyer's claim they don't want to 'finance' the purchase of the paper that they want, but the truth is they are already financing it within in the price at which the seller will sell.
Again, So What?
The objective for the buyer is to buy the paper. What happens before he gets his paper really isn't his business.
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Compare it to ordering a custom built car from a car dealer.
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The car hasn't been built yet-- but the Buyer is STILL required to make a deposit before the manufacturer builds it.
The car dealership isn't using its money to make the order happen, but he is making a profit on the sale. It's exactly the same business process.
The Bottom Line is: Did you get the paper that you wanted at an acceptable price?
After all, isn't that all that really matters? |
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Waiting For ISIN's And CUSIP's Guarantee Failure To Buy |
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(this is a reprint from a prior issue)
ATTENTION BUYERS!
Over the last weeks, many buyers have requested or insisted on seeing information on specific instruments before they will make their interest known.
This flawed approach to buying FAILS NEARLY EVERY TIME! Why?
Since analogies are a great way to illustrate a point, imagine that you want to ride the train (i.e.- buy an instrument).
All day long, trains keep coming and going (instruments for sale), and they are ridden (i.e.- bought), by other riders who have already presented their tickets (i.e.-been accepted as a bonafide buyer by the seller), from the ticketmaster (the trade platform manager).
The reason so many deals never make it is because you cannot wait for a train to come into the station before you decide if you want to ride it!
You first have to buy a ticket (present your LOI, CIS, Passport, LOA, etc) so the ticketmaster (the seller) can OK you to climb aboard the next train.
Once you have bought your 'ticket', you are now entitled to stand on the platform waiting for the next train (instrument) that is the right one to jump on (take down).
The trains are always coming and going, but the ticketmaster won't allow you to board an oncoming train until you have been cleared and shown your capacity to buy.
When you ask to see a specific instrument's identification, you are asking about a train that is already in the station and is in the midst of being boarded (taken down) by another buyer.
Too late! You have to be timed so that the seller has your ticket BEFORE the next train comes down the track.
Also, when the buyer wants to see ISIN and CUSIP numbers, they are again asking about a train that is about to leave the station.
If you know you are going to ride the train, get your ticket (documents) punched so you can jump on the next train coming. Be prepared.
When the train has pulled into the station, you don't have time to first get your ticket and get on board. That's why you may have found that paper you were interested in has been sold out from under you.
Timing is everything, and being on the platform when the train comes in is the only way to buy your paper. |
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Outlook and Opportunities
In no way are these a solicitation to sell. They are provided as information only. We are not responsible for the accuracy of information should it later be discovered to be incorrect.
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NON-RECOURSE LOANS
AGAINST PAPER
(MINIMUM 150MM)
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THE LOAN TO VALUE IS 23% OF INSTRUMENT FACE VALUE NET.
SUBSEQUENT ENHANCEMANT ARRANGED AT REQUEST OF BENEFICIARY.
THE BEST WAY FORWARD IS TO SEND TO ME A GOOD COPY OF THE INSTRUMENT FOR CHECKING, AND WE WILL PROCEED FROM THERE.
WHEN VALIDATED AND VERIFIED, AN AGREEMENT IS PREPARED FOR SIGNATURE.
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BG's/MTN
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Fresh Cut. Slightly Seasoned. Seasoned. Or for those who know the real terminology-- New Issue, or Issued.
How to get started? Send an email with your staus as a Principal Buyer, or legal, papered representative status. We can only respond to these two positions in the buying chain for this opportunity.
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Private Placements
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There are several providers of Private Placement Programs that we are working with. Some will even accept hard assets (like the offer above for Gold); and some will accept certain types of in-ground assets with certain criteria.
If you have assets other than cash to put into a program, you must send front and back copies of the instrument and proof of ownership along with a non-solicitation letter. OR, if you can get a SKR (Safe Keeping Receipt) from a major Top 25 European or Canadian Bank, that can be used!
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Sender is not a licensed United States Securities Dealer, Broker, US Investment Advisor or Commodities Trader. This electronic transmission and or attached documents are not to be considered a solicitation for any purpose in any form or content, nor an offer to sell and/or buy securities. And is sent so as a request for information.
NOTE: This communication is private, confidential, and between the parties. It is not public disclosure and not a public offering. It contains information which may be proprietary and privileged, and does not constitute a legal agreement, nor is it to be construed as legal advice or consulting. Any review, re-transmission, dissemination or other use thereof, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited.
This material is for information purposes only, and is not a solicitation of funds to buy and/or sell Securities, nor a solicitation to provide financial services. The afore-referenced instruments are not offered for sale herein. We are not the Providers. Bank Instruments are for private sale and do not come within the purview of security laws of any nation.
Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of PCC Funding, PO Box 1222, Olney MD 20830.
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