Proof of Funds Procedure:

1. Client, or client’s representative, will provide the necessary information to provide a quote.
The minimum information needed is: the client’s name, email address, telephone number, physical address, account funding amount, account term and type of account verification required.

2. A Term Sheet will be issued for the amount of funds requested by the Client. The Term Sheet will stipulate the monthly Arrangement Fee, re-fundable processing costs and a short application.

3. Upon receipt of the signed Term Sheet, processing fee, application and proof of ability to deposit the Arrangement Fee in an Escrow Account, a Principal Agreement will be issued detailing how the Proof of Funds is to be provided. The agreement will include provisions concerning delivery of confirmation documentation, bank coordinates, etc.

Escrow instructions will also be provided so that the first month’s Arrangement Fee can be deposited by the Client with the financial institution’s Escrow Agent. It is a condition in the Escrow Agreement that in the unlikely event we do not open the Proof of Funds account, the Arrangement Fee will be returned in full to the Client from the Escrow Agent’s Trust Account.

4. Concurrent with the Client’s execution of the Principal Agreement, the Client must deposit the first month’s Arrangement Fee into the Escrow Account. The Client will be required to provide the necessary documentation to complete the account establishment process. Among others, this will include copies of identification; Certificate of Good Standing or Incorporation, if applicant is a company; Employer Identification Number (if applicable); Corporate resolutions (we will provide draft template resolutions to be executed, if applicable). The Client will be a verifiable signatory on the account, but unable to conduct transactions in the account.

5. Upon confirmation that the Arrangement Fee has been deposited by the Client, the Proof of Funds Account will be opened in the Client’s name and funds will be deposited in the amount stipulated in the Principal Agreement.

6. The Arrangement Fee is released to the Bank/Investment House that deposits the funds when confirmation is provided to the Escrow Agent that the account has been set up in the client’s name, the funds have been deposited and are blocked for the number of days stipulated in the Principal Agreement.

7. The Proof of Funds is valid for the period stated in the Principal Agreement, and conditionally, may be extended through mutual agreement, and payment by the Client of the Arrangement Fee for such extensions on or before the last day of the month preceding the new extension period.

Proof of Funds Account Pricing:
(subject to change without notice – market driven pricing)

              30 Day² Accounts       60 Day² Accounts 

                       Fee¹         Fee¹           Fee¹        Fee¹              Effective 30 day rate

$100k                 -                 -              8.5%        $8,500            4.25%

$150k                 -                 -              8.5%      $12,750            4.25%

$200k                 -                 -              8.5%      $16,000            4.25%

$250k           7.5%       $18,750             8.5%      $21,250            4.25%

$300k           7.0%       $21,000             8.5%      $25,500            4.25%

$400k           6.0%       $24,000             8.5%      $34,000            4.25%

$500k           5.0%       $25,000             8.5%      $42,500            4.25%

$600k           5.0%       $30,000             8.5%      $51,000            4.25%

$700k           4.5%       $31,000             8.5%      $59,500            4.25%

$800k           4.0%       $32,000                    

$900k         3.75%       $33,750                    

$1mm           3.5%       $35,000

$2mm           2.5%       $50,000

$3mm           2.0%       $60,000

$4mm           2.0%       $80,000

$5-10mm                                             3.5%                              1.75%

$10-20mm                                           3.0%                                1.5%

$20-30mm                                          2.75%                             1.375%

$30mm+                                            2.25%                             1.125%

 ¹ Does not including broker commission.  ² Accounts may be kept open by continued payment of Fees. (Discounts may be available)

This can be used in any situation that the client needs to show they have funds in their name in a specific amount.

Some of the uses with our clients have been: 

• Net Worth Requirements
• Bond Requirements
• Proof of Liquidity