Understanding the basics

UOB Kay Hian Credit Pte Ltd is the Securities arm of UOB Group.

Seraphic International maintains banking arrangements with UOB Kay Hian Credit Pte Ltd, enabling its Securities division to receive banking instruments on Seraphic International’s behalf, subject to engagement and approval.

UOB Kay Hian has a master account under UOB Bank. Anyone banking with UOB Kay Hian is considered a custodian account holder.

Financial institutions are more secure when banking instruments are managed by the institution itself rather than by private corporations.

International banking regulations prohibit financial institutions from entering private contracts for banking instruments, as this constitutes solicitation.

Preparing the Road

Seraphic International (Private) Ltd (SEI) is the party sourcing the Bank Instrument.

Provider and SEI enters into agreement where Provider uses his bank and SEI uses its custodial account under UOB Kay Hian as the Applicant and UOB Kay Hian shall be the Ultimate Beneficial Owner of the Bank Instrument arranged.

Seraphic International (Private) Ltd places a deposit of USD250K for the arrangement of each bank instrument to be received.

As the relationship between the parties are only SEI and the Provider, a relationship must be formed between the Provider and UOB Kay Hian. This works like a Relationship Management Application (RMA). Hence, the initial SWIFT must be in form of a MT799 Proof of Funds.

Confirming the Bank Instrument

Upon Receiving the MT799 Proof of Funds, UOB Kay Hian does a Due Diligence on the Provider.

Once Due Diligence has passed, UOB Kay Hian shall inform SEI and initiates a contract between SEI and UOB Kay Hian. This contract would state the below.

1. Loan To Value Percentage

2. Interest on Loan

3. Repayment Schedule

4. Legal Fees Payable

5. Monetizing Fees Payable

6. Expiry of Instrument

Once the Contract is sealed between SEI and UOB Kay Hian, SEI shall contact the Provider to request MT760.

Provider sends Bank Instrument to UOB Kay Hian Credit Pte. Ltd. as the Ultimate Beneficial Owner. In the body text, Seraphic International (Private) Ltd shall be named as the borrower.

PERKS OF WORKING WITH SERAPHIC INTERNATIONAL (PRIVATE) LTD

Only the SWIFT message is required as UOB Kay Hian is a Financial Institution. This saves the Provider between 300K to 600K for the Hard Copy by Bank Bonded Courier.

NOTE:

• WE ONLY RECEIVE BANK INSTRUMENTS FROM THE WORLDS TOP 50 BANKS.

• ALL LOAN-TO-VALUE RATIOS ARE BASED ON MARKET CONDITION AND RANKING OF THE BANK THAT IS PROVIDING OR CONFIRMING

• PROVIDERS AND SEI MUST ACT ACCORDING TO AGREED TRANSACTION PROCEDURES.

• VERBIAGE FOR UOBKH MUST BE USED FOR ALL INCOMING BANK INSTRUMENTS.
  EMAIL: CEO@THESERAPHICGROUP.COM FOR THE UPDATED AND RESPECTIVE VERBIAGES.

ADDITIONAL NOTE TO ISSUERS:
Bank Payment Undertaking requests will not be entertained. You are issuing a Financial Paper, we are not a company buying anything from you. As you are not a manufacturer of any products and we are not buying any of your manufactured goods, Bank Payment Undertakings are not relevant. Hence, ISP98 papers are requested.