Strengthening Our Approach to Commercial Programs: Ensuring Transparency and Efficiency
In our continuous pursuit of excellence and commitment to providing exceptional service to our clients and partner financial platforms, we have recently made an important decision to enhance our process for evaluating requests to participate in private placement programs. By implementing a more comprehensive approach, we aim to streamline operations, safeguard our credibility, and maximize the potential for successful outcomes.
Over the years, we have encountered instances where intermediaries would approach us with requests to participate in private placement programs such as PPP, Ping Trade, Bullet, and others. In response, we would mobilize our partner platforms and financing experts to closely study the documents submitted by the intermediaries. However, we often faced disappointment when the intermediaries were unable to establish contact with their clients or faced difficulties in obtaining their clients\\\’ agreements, among other pretexts. This not only resulted in wasted efforts and resources but also undermined our credibility with our partner financial platforms.
To address these challenges and ensure a more efficient process, we have decided to revise our response strategy. Effective immediately, we will only consider requests that include the following essential elements:
- A letter of intent directly from the client expressing their interest in the deal. The letter should clearly state the amount they intend to place in trade, the bank involved, and the country where the funds are deposited.
- A complete Know Your Customer (KYC) documentation package. If the client does not possess a complete KYC, we are prepared to assist in providing the necessary document.
- The client must also provide us with verifiable proof of control over the funds he intends to invest.
We firmly believe that these elements are crucial in establishing a solid foundation for a successful private placement program. Once these documents have been received and have passed our due diligence process, one of our esteemed bank officers will directly contact the client. This direct communication allows for a thorough exchange of information, ensuring that the client fully comprehends the deal structure and requirements. Only after the client has demonstrated understanding and agreement to all the points will the official contract be prepared for signature.
We would like to emphasize that for intermediaries involved in facilitating the deal, their cooperation is equally vital. Upon the client\\\’s approval of the deal, intermediaries will be requested to provide their Customer Information Sheets (CIS) to be incorporated into the Intermediary Master Fee Protection Agreement (IMFPA). The commissions for intermediaries are exclusively determined by the program itself, and no negotiation is permitted. Any attempt to negotiate commissions will result in the cancellation of the entire deal.
By implementing these measures, we aim to ensure transparency, mitigate risks, and optimize the efficiency of our operations. We believe that this approach will not only protect the interests of all stakeholders but also enhance our reputation as a trusted partner in the realm of private placement programs.
We appreciate your understanding and cooperation in adhering to these revised procedures. Should you have any inquiries or require further clarification, please do not hesitate to contact us. Together, we can navigate the complexities of commercial programs and achieve success.
Tags: Private placement programs, PPP, Ping Trade, Bullet program, Commercial programs, Know Your Customer (KYC), Due diligence, Verifiable proof, Official contract, Customer Information Sheets (CIS), Intermediary Master Fee Protection Agreement (IMFPA),