|Step||Direct B2B Clients and Clients unanimously in Assembly for B2A||Clients without direct legal power as representatives, Agents, Lawyers, Attorneys and other third parties.|
|1||The Client must provide VERUM INVESTMENTS INC. in original or with Hague Apostille the following documents (only signatures and stamps in original, blue ink and with totally clear resolutions are accepted): |
1.1. Letter of Intent with a brief and clear request about what type of services are being requested to Verum Inv. INC.; also must be included the resolution of the appointment of the requesting person: “LOI”
1.2. “Know your client” form with company register certificate and true bank details: “KYC”
1.3. Basic refundable deposit receipt.
These three documents cannot have more than five business days from the request to Verum Inv. INC.; we only accept documents with languages in Spanish or English. The original notarized documents and with The Hague Apostille may be required after the diligence, at the decision of Verum Investments INC.
|It conditions plus a Power of Attorney, although the three documents may be accepted with a maximum of 10 business days from their issuance. It is also mandatory to provide a higher refundable deposit, pending negotiation, and can be lost only in cases of fraud or bad faith on the part of the client. This deposit will be sent to the official Verum Investments INC. account or its collaborators and the proof of transfer must be accompanied by the three previously specified documents.|
|2||The Diligence will be carried out in a maximum of two (2) business days from the documents received. If the diligence is approved, Verum Investments INC. will reply to the client with the investment proposal and the client must decide whether to accept and continue or not, having five (5) business days from receipt of the proposal from Verum; If the client accepts the proposal of Verum then proceed to step 3, and if not then Verum will return to the client his deposit (in case of having provided it) and will eliminate all the documents, ending and cancelling any relationship with the client.|
|3||Verum will organize a face-to-face meeting with the client before a Notary Public or at an equivalent Authority office. It is also possible a videoconference and / or calls to advance tasks of the proposed business. The contract with the client is signed according to the agreement proposed and accepted by both parties. The contract for professional agent fees can also be signed.|
|4||Official communications are made through Swift, Euroclear or Depository Houses (Bank to Bank only, without the intervention of third parties or practices of doubtful origin).|
|5||After ten (10) business days from receipt and verification of the Swift / copy of the bank receipt, Verum will make the payments / deliveries of the assets according to the agreement and specified in step 2.|
Analysis and personalized evaluation:
The economists and lawyers of the Investor Company will be responsible at all times for advising the client in a detailed and personalized way. Depending on the client’s assets, each case will be studied independently and the best way to proceed will be proposed with the key intention of completing the transaction successfully.
Presentation of documentation:
The client must provide all the documentation required for the presentation of the operation in the offices of the Investor; After the initial contact with the client and after studying the feasibility of the operation, the client will present a request letter, a client information sheet and any other relevant documentation for the request and to allow the Investing Company to perform the diligence on the (the) owner (s) of the instrument and its (their) assets.
Passport: DIN-A4 size and in any of the following formats PDF, JPG, BMP or PNG.
ACTIVE: two bank officials with their current PINs in charge of the customer’s account must manually sign Proof of funds and all bank documents. Electronic signatures and / or “copy and paste” will not be accepted. In the case of documents that require verification by the Euroclear system, it will be essential to print all 12 pages. IMPORTANT: We do not accept any type of procedure that prohibits telephone calls, whether bank to bank or otherwise, as this is necessary to verify and ensure that we are dealing with a real signer of the account and that the funds and / or assets are not subject to “lease”.
Assets diligence and verification:
Once the operation is presented to the Investor’s office, they will immediately proceed to verify the assets and carry out the “Diligence” (under study for admission) of the client and the assets presented. The client must not be connected with any illegal or criminal organization or carry out illegal or terrorist activities. In addition, the asset must be good, clear, clean, of non-criminal origin and must be freely available, complying with the FATCA I-II rules and all international money laundering prevention rules.
Options available to lock assets:
Como pauta, se indicará al cliente que elija una de las dos opciones disponibles siguientes para bloquear los activos, pero se le informará en consecuencia sobre las mejores opciones posibles:
1.- Swift MT-799 and MT-760: the client’s bank issues a prior notice Swift MT-799 and a blockade by Swift MT-760 to the bank designated by the Investor in the contract. The recipient of the MT-760 will be “the Investor’s Company” or any of our Partner Companies available at the correct time to receive the SWIFT. This option implies a higher cost for the client, but it is the classic one because it is more comfortable for the Investor.
2.- Authorization to manage the account: the client authorizes the Investor as the second holder to manage the account where the funds are, with the EXCEPTION AND IMPOSSIBILITY of transferring funds from the account. The Investor’s intervention in the client’s Bank will consist solely and exclusively in requesting, a letter to block the amount of funds invested. The client is the only signer authorized to move funds. This option is more economical for the customer, as it avoids the cost of Swift issuance and time-consuming bureaucratic procedures. This option is only possible if the customer’s account is a corporate account. In this case, the client must issue a corporate resolution to the Investor, allowing him to manage the account as the company’s CFO. The corporate resolution must be notarized and your Bank must accept in writing (signed by two bank officials) the Investor as signatory of the account. The client indicates to his Bank internally that the Investor is not authorized to make transfers from the account, so that the client can be sure that his funds will never move. The funds are not used as collateral, they are not moved.
3.- Issuance of a collateral bank guarantee: if the client does not want the Investor to work from their account (or if it is a private and non-corporate account), or for those who do not wish to block their funds, there is still the possibility that can instruct their Bank to issue a BG with the Investor’s company as beneficiary, and that this BG is previously confirmed by SWIFT MT 799 and blocked by SWIFT MT 760, sent to the Investor’s Bank. There is no risk to the customer. An ICC-600 bank guarantee or the latest edition generally costs 5% to 10% of the face value for 1 year and 1 day of commitment and usufruct use, and about 50% of the face value in the case of purchase. The client must contact a legal and direct Bank Guarantee Provider and negotiate the price, conditions and procedure in relation to the Investor to obtain good communications and real results, since if there is not a good coordination and the BG reaches the investor in conditions not compatible with the investment to be made then the transaction will be cancelled and the customer will lose everything.