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HomeCommodity AP
Commodity AP
Outline
Closing Procedure
Application Form

Outline

The following outlined procedure highlights the requirements of our program.

• Application form submission to be verified by "MB" (merchant bank)


• Agreement package creation by MB Consisting of the following..


• JV Structure indicating MB is conducting this transaction together securing the confidentiality of the transaction


• A Performance agreement that details the responsibilities of both parties within the transaction and outlines the financial services that the MB will provide in order to facilitate the respective transaction to fruition


• A Escrow agreement that will govern the terms of the deposit

The deposit goes into the trust account of a designated arms length, independent third party escrow facility, which is licensed, insured and regulated. Note, MB will not ask for deposit with the submission of the application and the deposit becomes due only after the applicant accepts the terms and conditions of the agreements and the client has decided to execute the contract and move forward.

Once the deposit is placed into escrow the MB will verify independently details to move forward, if the transaction is fake or bogus the deposit will be lost by the facilitator of transaction. It is very crucial to have all documents verified by the facilitator before proceeding with any transaction. There is a cost of verifying and authenticating information and the MB has to open LC (Line of Credit). This could cost the MB heavy up-front expeditures, this is why the client is liable if the deal cannot be verified.

 

 

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