Funding Criteria


Funding Criteria


Shina Capital Limited undertakes the following procedure/steps and process towards financing your project successfully as per internationally accepted standards.


  • STEP 0:   All issues within the Term Sheet have been discussed, agreed and signed. The Bankable documents have been accepted by borrower and investor and their Banks.


  • STEP 1: The borrower and the Investor fully executes offers letter, they will     respectively process the executed offer letters to their bankers.


  • STEP 2: The Investor’s bank issues the recommended MT 799 Pre advise and the approved MT 790 Standby Letter of Credit (SBLC) verbiage/format to be issued by the borrower’s bank including the approved verbiage/format of the Investor’s Bank undertaking i.e.MT 799 Irrevocable Conditional Bank Pay Order (ICBPO). The borrower’s bank issues the Bank Comfort Letter (BCL) which is signed and stamped by the bank officer   (with full names and Bank’s responsibility) on the bank letter head as per the recommended format/verbiage.
  • STEP 3: Once the Investor receives the Bank Comfort Letter from the borrower’s bank and submits it to his bank then the borrower receives draft verbiage of the MT 799 pre advise, MT 799 ICBPO and MT 760 SBLC and submits it for processing to his bank, the investor will issue a draft financial offshore Loan Agreement (FOLA) to the borrower to go through it. Once all parties are satisfied with the draft financial offshore Loan Agreement (FOLA), they will execute it for final bank to bank closing of the transaction and for disbursement of funds to the borrower.
  • STEP 4: Once the Financial offshore Loan Agreement (FOLA) has been executed, the investor and borrower will launch it to their respective bankers for bank to bank communication to commence the shwifting process on delivery of the collateral and disbursement of funds.
  • STEP 5: The borrower’s bank Swifts MT 799 Pre advice via their confirming bank to Investor’s Bank.
  • STEP 6: The Investor’s Bank then swifts back the bank’s instructions i.e. MT 799 Irrevocable Conditional Bank Pay Order (ICBPO) and the amount and schedule/timeline that has been pre agreed and the timing of first tranche via their confirming bank to Borrower’s bank. The MT 799 Irrevocable Bank Pay Order (ICBPO) will contain MT 100 which means (an interbank message which basically the sending bank advises the receiving bank to expect funds from the sending bank) The ICBPO is an undertaking which is payable within five (5) banking days after receipt of MT 760/SBLC via their confirming bank.
  • STEP 7: The borrower’s bank issues an undertaking to pay the borrower within Eight (8) banking days.
  • STEP 8: After the borrower’s bank has received and confirmed the client’s collateral/security documents (title deeds, charge documents etc.) they will swift MT 760/SBLC via their confirming bank to the investor’s bank.
  • STEP 9: Upon the receipt and confirmation of the MT 760/SBLC from the borrower’s bank, the investor’s bank disburses funds via MT 103 wire transfer within five (5) banking days as per the agreement of MT 799 Irrevocable Conditional Bank Pay Order (ICBPO) of the first tranche.
  • STEP 10: Once the borrower’s bank has received the funds from the investor’s bank, the borrower’s bank will repay the loan as per their undertaking.

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