General Procedures for all clients
Although each deal having its own particulars and terms, so the practical operational procedures of each deal, contract and transactions are different, but the below steps are very important for all types of transactions.
1- The Client information Sheet (CIS) and legal status.
In accordance with international banking, financial institutional and investment companies’ regulation concerning the prevention of money laundering and criminal activities, the CIS must be provided by client to ADP for local and international Due Diligences. Because the ADP provides all types of services according to rules, regulation and Law only.
2- Submitting of the Proposal
The second must important article is the brief business proposal, for example the project proposal, business proposal and investment proposal. The proposal of the client must be according to Law, rules and regulations and free from all types of military, political and free from Generational prejudice, religious and linguistic.
2.2- In case the client have the project proposal then must having all approvals form relevant authorities, in case the client have any asset then must able to submit the authenticatable documents.
3- TTM and Signing of the contract.
If the client successfully passed the above steps, then the ADP will issue an Acceptance Letter along the Draft MoU, or Contract and the client will be invited for table talk meting (TTM) and the contract will be signed and registered.
4- Letter of Intake/ RWA/Pre-advice from client bank or Ministry.
Upon Signing of the contract the client must able to issue agreed Letter of Intake /RWA /BCL from its bank via double way confirmable swift MT-799. In case the client is Public sector then there will no need, the Public sector clients will responsible for RWA/Letter of Intake on the Letter Head of relevant Ministry.
5- Confirmation of the agreed cost of project through top AA rank Bank.
Upon RWA/ Pre-advice /Letter of intake of the client, the ADP will be responsible to confirm the agreed cost of the project via confirmable swift MT-799 through its selected top AA rank bank to the client selected good bank.
6- Issuance of agreed collateral/Sovereign Guarantee/ Bank Guarantee/ SBLC/Cash Block.
Once the ADP perform according to the clause 5 (Confirm the cost of project via legal way) then the client will be responsible to issue the agreed instrument in favor of ADP and will remain or renew able until agreed time according to terms and condition of the contract.
7- Starting of the payments to Special Project Account (SPA)
Upon authentication confirmation of the client collateral, the payments will be start to the client nominated account according to the project work plan, measurement and development report.
The first payment will be credit in SPA within 25 to 35 banking days and rest all payments will be transfer to client account as per agreed payment schedule.
8- Funds/Investment/Finance returning.
A. In case of the welfare and charitable projects funding, the funds will be grant and non-refundable and the collateral of the client shall be return to the client without any deduction and free from line after successful completion of the project.
B. In case of investment contract for commercial projects, the funds will be refundable with flexible interest within four (4) to seven years back to ADP after successful completion of the project.
C. In case of investment against Oil back contract, the Ministry/Client will be responsible to start the supplying of the petroleum products after 75% completion of the project CIF to nominated international port. The client will be responsible to supply the product with face value of the investment within five (5) to ten (10) years, there will no interest rate of investment against oil back contract.