Client, or client’s representative, will provide the necessary information to provide a quote. The minimum information needed is: the client’s name, email address, telephone number, and physical address, account funding amount, account term and type of account verification required.
A Term Sheet will be issued for the amount of funds requested by the Client. The Term Sheet will stipulate the Arrangement Fee, refundable processing costs, escrow fee and include a short application.
Upon receipt of the signed Term Sheet, processing fee, escrow fee, application and proof of ability to deposit the Arrangement Fee in the Escrow Account, a Principal Agreement will be issued detailing how the Proof of Funds is to be provided. The agreement will include provisions concerning delivery of confirmation documentation and terms of account use.
Escrow instructions will also be provided so that the initial Arrangement Fee can be deposited by the Client into the Escrow Trust Account. It is a condition in the Escrow Agreement that in the event we do not open the Proof of Funds account, the Arrangement Fee will be returned in full to the Client by the Escrow Agent.
Concurrent with the Client’s execution of the Principal and Escrow Agreements, the Client must deposit the initial Arrangement Fee into the Escrow Account. The Client will be required to provide the necessary documentation to complete the account establishment process. This information will include at a minimum; color copies of photo ID’s for all signatories, a second document including name and address, Certificate of Incorporation/Organization for companies, Employer Identification Number for companies and Corporate resolutions (if applicable) and social security numbers for all signatories. The Client will be a signatory on the account, but will be unable to conduct transactions in the account or encumber the funds in the account in any manner.
Upon confirmation that the Arrangement Fee has been deposited by the Client into the Escrow Trust Account, the Proof of Funds Account will be opened in the Client’s name, and funds will be deposited into the POF account in the amount stipulated in the Principal Agreement.
The Arrangement Fee is released from the Trust Account when confirmation is provided to the Escrow Agent that the account has been set up in the client’s name, and that the appropriate funds have been deposited as stipulated in the Principal Agreement.
The Proof of Funds account will remain open for the Client’s use for the period of time stated in the Principal Agreement, and conditionally, may be extended through mutual agreement, and payment by the Client of the Arrangement Fee for such extensions within five (5) days of the expiration of the current term.
1 Mapp Street, Belize City, Belize. Head office 5 Ben-Gurin st. Ashqelon, Israel P.O. 78281