| MAGOP CODE |
MAGOP/FP/OFF/10SEP2023A |
| PRODUCT TYPE |
Currency exchange in either direction. |
| DESCRIPTION |
OFFER: Currency Exchange |
| CURRENCY |
USD, EUR, NDK, etc... |
| PRICE |
As agreed |
| TOTAL CONTRACT AMOUNT |
As agreed |
| TRANCHES |
As agreed |
| COMMISSIONS |
As agreed |
| PROCEDURE |
- Currency owner comes transparently forth with proper KYC/AML documentation supporting currency(s) ownership, the custodial location of the currency, and general expectations.
- Parties agree on contract amount, exchange rate, tranching schedule, and any other negotiations.
- Full KYC/AML compliance is completed by the banks, accounting, and law firms.
- Any contracts are drafted.
- Contracts/invoice is signed.
- Currency owner delivers currency to provider's account as agreed.
- Provider send exchange currency to currency owner as agreed.
- Intermediaries are paid as agreed.
- Additional tranches continue as agreed.
|
| NOTES |
- Provider will not initiate due diligence or confirm readiness until currency owner's POF and ownership are confirmed as well as parties in the middle are on the same page.
|
| MAGOP RELATIONSHIP: |
Absolutely direct to provider. |
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Disclaimer: CLICK HERE
