Licensed and regulated companies
Package B — guarantee institution with an international banking partner cooperation framework
Package B: everything in Package A, together with a contractual and compliance framework for cooperation with international licensed banking partners — for instruments such as standby letters of credit, documentary letters of credit, bank guarantees and counter-guarantees that are issued by partner banks.
In short
Package B: everything in Package A, together with a contractual and compliance framework for cooperation with international licensed banking partners — for instruments such as standby letters of credit, documentary letters of credit, bank guarantees and counter-guarantees that are issued by partner banks. The price is €26,500, excluding VAT. How long it takes: the first complete version of the documentation is ready within one week after we receive all required source information. It is ordered and paid on micaconsult.com.
Who it is for
Guarantee and trade finance businesses that work with licensed banks for instruments the bank issues or confirms.
Price
| Service | Price | Order |
|---|---|---|
| Package B — guarantee institution with an international banking partner cooperation framework | €26,500 | Order |
All prices are in euros and exclude VAT. VAT is added where it applies under the Estonian Value Added Tax Act.
What the price includes
- Package B: everything in Package A, together with a contractual and compliance framework for cooperation with international licensed banking partners — for instruments such as standby letters of credit, documentary letters of credit, bank guarantees and counter-guarantees that are issued by partner banks.
- Everything in Package A
- SBLC contractual and operational framework; documentary letter of credit operating procedures
- Draft banking partner cooperation agreements and international guarantee customer agreement templates
- SWIFT messaging procedures and allocation of responsibilities
- Documentation addressing ISP98, UCP 600 and URDG 758; international counter-guarantee documentation
- Cross-border AML/KYC procedures; corporate compliance documentation and transaction file templates for banking partners
- Financing and collateral structure and regulatory scope documentation
Not included in the price
- The FIU state fee
- The search for new banking partners (a separate row)
- Office rental, the FIU contact person, external costs and independent professionals
State and notary fees
State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
- The FIU state fee
Requirements
Where a financial instrument must be issued or confirmed by a licensed bank, the relevant bank remains responsible for that issuance or confirmation. Banking agreements, account openings, credit facilities and individual financial instrument approvals remain subject to the relevant bank's decision. An Estonian FIU authorisation is not a banking licence and does not automatically grant direct SWIFT access or guarantee acceptance of instruments by other financial institutions. The competent supervisory authority decides on the authorisation; LexorCorp performs the agreed documentation and application coordination services but cannot guarantee that the authority will grant it. The first complete version of the regulatory documentation is prepared within one week after we receive all required source information; the official licensing procedure is separate from this and its time is set by the supervisory authority. The FIU decides within 60 days after receiving all required documents and data and may extend the period to 120 days (Money Laundering and Terrorist Financing Prevention Act § 71 (1)). Ordered and paid on this page: 50% of our professional fee when you order, the other 50% after the first complete version of the documentation is ready and before the final package is delivered.
Before we start
- Where a financial instrument must be issued or confirmed by a licensed bank, the relevant bank remains responsible for that issuance or confirmation. Banking agreements, account openings, credit facilities and individual financial instrument approvals remain subject to the relevant bank's decision. An Estonian FIU authorisation is not a banking licence and does not automatically grant direct SWIFT access or guarantee acceptance of instruments by other financial institutions. The competent supervisory authority decides on the authorisation; LexorCorp performs the agreed documentation and application coordination services but cannot guarantee that the authority will grant it. The first complete version of the regulatory documentation is prepared within one week after we receive all required source information; the official licensing procedure is separate from this and its time is set by the supervisory authority. The FIU decides within 60 days after receiving all required documents and data and may extend the period to 120 days (Money Laundering and Terrorist Financing Prevention Act § 71 (1)). Ordered and paid on this page: 50% of our professional fee when you order, the other 50% after the first complete version of the documentation is ready and before the final package is delivered.
Documents and information we need from you
- As in Package A; and the banking partners you already work with, if any.
Process
- You: As in Package A; and the banking partners you already work with, if any.
- LexorCorp: Everything in Package A and the banking partner framework documentation.
- Authority: Rahapesu Andmebüroo (Financial Intelligence Unit) decides; each bank decides on its own instruments and agreements.
How long it takes
The first complete version of the documentation is ready within one week after we receive all required source information. The official licensing procedure is separate and its time is set by the supervisory authority: the FIU decides within 60 days after receiving all required documents and data and may extend the period to 120 days (Money Laundering and Terrorist Financing Prevention Act § 71 (1)). Banking partner arrangements follow each bank's own approval process.
Law and requirements
- Money Laundering and Terrorist Financing Prevention Act
- Credit Institutions Act § 6 (1) 6)
- ICC rules ISP98, UCP 600 and URDG 758 (private rules the parties choose)
General information about our service, not legal advice.
Questions and answers
Package B: what does it cost?
€26,500, excluding VAT. State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Package B: who is it for?
Guarantee and trade finance businesses that work with licensed banks for instruments the bank issues or confirms.
Package B: how long does it take?
The first complete version of the documentation is ready within one week after we receive all required source information. The official licensing procedure is separate and its time is set by the supervisory authority: the FIU decides within 60 days after receiving all required documents and data and may extend the period to 120 days (Money Laundering and Terrorist Financing Prevention Act § 71 (1)). Banking partner arrangements follow each bank's own approval process.
What is not included in the price?
The FIU state fee; The search for new banking partners (a separate row); Office rental, the FIU contact person, external costs and independent professionals.
Who makes the decision?
Rahapesu Andmebüroo (Financial Intelligence Unit) decides; each bank decides on its own instruments and agreements.
Related services and add-ons
- Office rental outside Tallinn — from €450 / month
- Recruitment of an Estonia-based FIU contact person — €700
- Search for new banking partners — €2,000
Part of
- Licensed and regulated companies — from €3,500