Do business the right way and save time and effort! ⏳✨
Key Documents:
- L.O.R. (Letter of Request) 📩 or Proforma of a Letter of Interest
- C.O.A. (Confirmation of Access) ✔️ or Letter of Confirmation
- N.D.N.C. (Non-Disclosure, Non-Circumvention) 🔒
- IMFPA (Intermediary Master Fee Protection Agreement) 💼
- L.O.I. (Letter of Intent) 📝 from Buyer’s Lawyer to Mandate or Seller’s Lawyer
Process Overview:
- Intent Validation: Response to L.O.I. ➡️ Invite to inspect from Mandate or Seller’s Lawyer
- P.O.F. (Proof of Funds) 💵 to Seller’s Lawyer or Bank
- Escrow 🔐
- Viewing 👀
- Contract 📜
- Payment 💳 (Bank transfer for large transactions, otherwise: Credit card, Cryptocurrency (e.g., Bitcoin), PayPal, Amazon, Google Pay)
Letter of Request (L.O.R.)
This can be sent from the Buyer’s agent to demonstrate real interest in a specified object (please describe the object in detail) before submitting the L.O.I. This letter serves as a defined mission mandate.
The L.O.R. should inform the Seller or Seller’s Agent/Mandate about the parties involved, any questions, your relationship with the Buyer, and the offer price. It should be signed and on letterhead, with copies of the passports of all parties involved on the Buyer’s side. Please describe your familiarity with the Buyer and whether you have done business with them before. 🕵️♂️💬 Speak with the Buyer to determine their maximum budget for the transaction and ask for any questions they need answered.
Response to L.O.R.
- C.O.A. (Confirmation of Access) with terms
- N.D.N.C. & Commission agreement between agents should be signed ✍️
The L.O.I. from the Buyer or Buyer’s Lawyer should follow, addressing most questions raised in response to the L.O.R., except for personal details about the Buyer.
Important Components
- Letter of Intent 📃
- N.D.N.C. 🔒
- Proof of Funds 💵
- Escrow 🔐
- Contract 📜
All parties involved should attach a copy of their passport to the N.D.N.C. and commission split agreement.
Definition of ‘Letter of Intent – LOI’
- An agreement that outlines a person’s or corporation’s intention to execute a private or corporate action. The LOI is created by the corporation with its management and legal counsel and outlines the action details. It can also be drafted by a private individual’s lawyer or bank.
- A document used by parents to express their hopes regarding their children in the event of their passing, which courts may reference to determine the children’s future.
Usage of Letters of Intent
- LOIs are often utilized in mergers and acquisitions to outline a person’s or firm’s plan to buy or take over another entity. They specify transaction terms (cash vs. stock deal). 💰
- Unlike wills, LOIs are typically not legal documents.
Is Your Letter of Intent Binding or Non-Binding?
Remember, simply labeling a contract as a Letter of Intent does not make it legitimate. If the letter does not contain necessary contractual provisions, you’re safe. An LOI serves as an “agreement to agree,” indicating both parties seek a deal contingent on certain circumstances, such as executing a definitive agreement.
Validity of Terms
- “Terms of this Letter of Intent are valid until (a specified date, usually 30, 60, or 90 days) or until any other specified event occurs.”
- “Terms of this Letter of Intent are informational until they become contractual with the execution of a definitive agreement.”
- “Terms of this Letter of Intent will become effective and enforceable upon executing a definitive agreement.”
The latter examples remain somewhat binding, as they depend on a given event, whether it’s a definitive agreement or a deadline. Once received, the other party can act on the information confidently.
Purpose of a Letter of Intent
- To outline key points of a proposed transaction
- To officially declare that negotiations are in progress
- To put other monetary offers on hold until the first offer is accepted or rejected
Once a Letter of Intent is received, a response from the Seller or Seller’s Lawyer is expected! 🔄
🌍 Global Transport Companies (Art, Diamonds, & Gold, etc.)
🔒 Malca-Amit delivers absolute peace of mind for those dealing in Diamonds 💎, Jewellery 💍, Precious Metals 🪙, Fine Arts 🎨, Special Event Operations 🎉, and more! Secure door-to-door collection and delivery ensures the safe transport of your goods anywhere in the world. 🌎✈️
🚚 Secure Logistics
Our secure logistics solutions are built on the Brink’s secure transportation service. Coupled with our comprehensive services, you can effectively manage risk throughout your logistical process. Services include:
🔍 Risk Management Throughout Your Logistical Process:
- 📦 Packing
- 🚚 Pick-up
- 🏢 Secure Storage
- 📊 Inventory Management
- 📦 Pick & Pack
- 📜 Customs Clearance
- 📦 Consolidation
- ✈️ Airline Handling
- 🔒 Secure Transportation
- 💵 Cash Processing
- 🔄 Replenishment
- 📦 Delivery
- 📄 Proof of Funds Service
💰 Proof of Funds
A Proof of Funds is a document prepared by a financial institution that affirms that an individual or business entity has the funds on hand to enter into a given financial transaction. This document is often requested by sellers considering an offer from a buyer. The seller requests the proof through the buyer, who then authorizes their bank to confirm the ability to honor the terms of the transaction.
Definition of ‘Proof Of Funds – POF’: A document demonstrating that a person has the ability and funds available for a transaction, typically in the form of a bank, security, or custody statement. This ensures that the funds required for the transaction are legitimate and obtainable. ✅
For smaller transactions, proof of funds can be easily provided by downloading a bank balance form 🏦💼 from your internet bank.
This form typically shows your current account balance and account details, ensuring a straightforward verification process ✅📄.
Just make sure it’s up to date and includes all necessary information! 🗓️✨
🏦 BANK LETTERHEAD
BANK PROOF OF FUNDS LETTER
Issue Date: XX/XX/XXXX
Account Name: (Client Name)
Account Number: XXXXXXXXXXXX
Dear Sirs,
We, (Bank Name), located at (Bank Address), hereby confirm with full bank responsibility and legal liability, and acknowledge that an amount of $_______________________ in cash funds is currently on deposit with us by our above client.
We further confirm that our above client has full custody over said funds in their account, and under their exclusive instructions, we will immediately block/reserve the full amount of funds as listed above in your numbered account for a period of _____________________, without the placement of any liens or encumbrances of any kind during this time.
We also confirm that these funds are good, clean, cleared funds of non-criminal origin and obtained from legal sources, free from any claims, liens, and/or encumbrances. 🔒
These funds may be verified on a Bank-to-Bank inquiry.
AUTHORIZED SIGNATURE AUTHORIZED SIGNATURE
OFFICER #1 NAME: OFFICER #2 NAME:
TITLE: TITLE:
PHONE: PHONE:
🖋️ BANK STAMP
🔒 Escrow
An escrow is:
- An arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money and/or documents based on contractually-agreed conditions.
- An account established by a broker, holding funds on behalf of the broker’s principal until a transaction is consummated or terminated.
- A trust account held in the borrower’s name to pay obligations such as property taxes and insurance premiums.
The term derives from the Old French word “escroue,” meaning a scrap of paper or a roll of parchment, indicating the deed held by a third party until a transaction is completed. 📜
🏢 Licensed Escrow Companies
To avoid escrow fraud, use a Government Agency authorized escrow company (UK) or a State licensed escrow company (US). Recommended:
Law Debenture’s services are available internationally, with offices in:
- 🇬🇧 London
- 🇺🇸 New York
- 🇺🇸 Delaware
- 🇭🇰 Hong Kong
- 🌴 Channel Islands
These companies are regulated by national or state authorities, undergoing constant scrutiny, and must hold funds in bank accounts protected by law or have bonds that ensure customers can recoup money lost in the escrow process. Always verify the validity of an online escrow company’s license through their official website before engaging. 🔍
💵 Top Banking Services
- SWIFT MT 760/799
- Electronic Verification
- Bank to Bank Verification
- Phone/Fax Verification
- Attestation Letter
- History of Funds
- Bank Comfort Letter
- Account Statement
- Dual Private Banker Signatures
To engage in trade, please send buy & sell requests for Art 🎨, Gold 💰, Precious Stones 💎, Real Estate 🏡, Rare Super Cars 🚗, and Super Yachts ⛵.
Please be aware of all points above. I will only deal with individuals with a legal right to act.
Buying a Property would normally just require you take advise from your Lawyer
🛡️ Protect Yourself: How to Report Fraud! 📞
1. FBI (United States) 🇺🇸
- Online Reporting: Visit the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov 💻🕵️♂️ to file a complaint.
- Local Office: Contact your local FBI office. Find contact information on the FBI’s website 📞🏢.
- Hotline: Call the FBI’s toll-free number at 1-800-CALL-FBI (1-800-225-5324) 📞.
2. Scotland Yard (UK) 🇬🇧
- Online Reporting: Use the Action Fraud website to report fraud in the UK at www.actionfraud.police.uk 💻👮♂️.
- Call Action Fraud: Report by calling Action Fraud at 0300 123 2040 📞.
- Local Police: In emergencies, contact your local police station or dial 999 🚓.
3. Interpol 🌍
- Reporting Fraud: Interpol generally does not take reports directly from the public. Instead, report fraud to your local law enforcement agency 👮♂️.
- Local Law Enforcement: Local police will coordinate with Interpol if necessary. Provide them with all relevant details 📄.
4. Local Police (General) 🚓
- Visit or Call: Go to your local police station or call their non-emergency number 📞🏢.
- Documentation: Bring any evidence or documentation of the fraud (emails, contracts, receipts) 📑📝.
- Online Reporting: Many police departments have online forms for reporting crimes 💻.
5. Additional Steps 🔍
- Consumer Protection Agencies: Consider reporting fraud to consumer protection agencies in your country (e.g., the Federal Trade Commission (FTC) in the U.S. at www.ftc.gov 📄🏛️).
- Financial Institutions: If the fraud involves financial transactions, report it to your bank or credit card company immediately 💳🏦.
What to Include in Your Report 📝
- Details of the Fraud: Describe the fraudulent activity clearly and concisely 🔍.
- Personal Information: Provide your contact information and any relevant details about the fraudulent party (names, addresses, phone numbers) 📞📄.
- Evidence: Include any evidence you have, such as emails, screenshots, or recordings 📸📑.
Keep Records 📚
Make sure to keep copies of all communications and reports for your records. This documentation may be necessary for further investigations 🔒.
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