May 1, 2019

FORMS AND APPLICATIONS

cookiesGeneral Information:

By using the following form(s) you confirm understanding that you or your company(ies) is/are not a client of Elite Capital & Co. Limited until you receive a final written confirmation by an authorized Director.

However, due to the high volume of requests we receive for funding, we have outlined below the standard procedure that Elite Capital & Co. Limited (“ECC”) will adopt for all transactions, which broadly fall into one of two scenarios:

  1. ECC provides a turnkey solution for the Engineering, Construction, Procurement and Financing of a project (“EPC+F” system). This is mainly used for large Infrastructure Projects, and other variations of the system may be deployed, e.g. Build Own Operate (“BOO”), Build & Transfer (“BT”), etc.
  2. The client is seeking Finance only, against an Asset or investment grade Bank Instrument, e.g. Bank Guarantee (“BG”), Standby Letter of Credit (“SBLC”), etc.

Procedure

  1. Client submits their CIS, passport(s) copy(ies), project summary, description of Asset/Instrument (i.e. Bank Guarantee, Promissory Note, Standby Letter of Credit, etc) and letter of request (indicating amount and tenure of loan), along with the application forms below.

Note: Clients will need to confirm the availability of their collateral in a manner that is acceptable to ECC.

  1. The Finance Committee at ECC will review the client documents and clarify any details as necessary.
  2. If the project is approved by ECC’s Finance Committee, an Authorized Director will confirm the “Initial Approval” to the client  (confirming the contractor to be used for the construction work, amount of the loan, tenure, interest rate, etc).
  3. Client accepts the Terms and takes out a Performance Bond/Insurance for the benefit of ECC, which insures ECC’s costs (Lawyers, Bankers, Accountants, the process of Blocking Funds in the bank for the amount of the contract, etc.) in case of non-performance by the Client.
  4. After the Bond/Insurance is activated, an Agreement will be signed between ECC and the Client, in line with the agreed Letter or Term Sheet. Where ECC is providing a turnkey EPC+F solution, ECC will formally engage the EPC contractor at this stage to allow for the exchange of detailed project documents.
  5. The client instructs their bank to send a SWIFT MT999 Message to ECC’s designated bank, confirming availability of the client’s Instrument.
  6. ECC’s designated bank will respond with a SWIFT MT999 Message confirming our readiness to receive the Instrument.

Note: Funds availability is verifiable on bank-to-bank basis before No. 6 and 7 above.

  1. Client’s bank transfers the Instrument to ECC or the EPC Contractor’s designated bank, according to the instruction received by the SWIFT MT999 mentioned in number 7 above. For construction projects, a detailed EPC contract will be signed prior to the transfer of the Instrument.

Additional General Information

CLICK HERE for the Annual Interest Report (Compatible with Market Compliance)


Our Fees and Charges

Project Stage Fee Remarks
Initial Communication and Introduction Free General information exchanged with the client about “Project Funding Criteria”.
Project Application 3,250.- GBP (£) Project Application and Assessment Fee.
Project Execution 105,000.- USD ($) Insurance Policy and Performance Bond to cover costs in case of non-performance by the client.
Project Financial Close 2% to 3% Success Fee based on the face value of the loan or equity provided by ECC.

Documents Required

  • Resolution of Board of Directors / Committee
  • Certificate of Registration / Incorporation
  • Certified Official Listing of Office Bearers or;
  • Minutes of Meeting reflecting List of Office Bearers
  • Certified True Copy of Memorandum of Association or;
  • Certified True Copy of Articles of Association or;
  • Certified True Copy of Constitution
  • Proof of Ultimate Beneficial Ownership
  • Certified True Copies of ID / Passport of Owners & Directors
  • Proof of Owners & Directors personals address (no PO.Box)

Forms and Applications

 

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Elite Capital & Co. Limited

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