IP-IP Receivers
Ipip Receivers are required when a sender issues Hire a Bluhe consultant today and contract with a qualified receiver.
Download the free guide on how to complete an MT103-202.
Why ipip?
IP transfer has been widely used across the world to fulfill investment opportunities, business obligations or beneficiary payouts. They can also be structure to establish private financial arrangements and private placements. Due to their historical attributes ip receivers are less common.
In Short...
IPIP is used to order the movement of funds from an off ledger account to an on ledger account before transferring to the beneficiary institution(s).
What you
can & Can't do
with IPIP Transfer
Institution Debit
it can be sent to a financial institution to debit an account of the Sender serviced by the Receiver and to credit an account, owned by the Sender at an institution specified in field 57a
Multiple Payouts
This message may also be sent to a financial institution servicing multiple accounts for the Sender to transfer funds between these accounts.
Not Credit Friendly
This message must not be used to order the movement of funds related to an underlying customer credit transfer that was sent with the cover method. For these payments the MT 202 COV or MT 205 COV must be used.
IPIP Onboarding Process
Onboarding
State of the Art D.D. Processes
SWIFT KYC registry are key componants to our successful D.D. filings. All primary forms like CIS and KYC are collected at this time. Some ICC regulated countries are adopting facial recognition affirmation software in the onboarding process. In the event of facial recognition requirements, Bluhe Shire is available to record for issuance.
Private Agreements
Private Structures for Unique Clients
For owners and investors who are investing in multiple places or require funds to be delivered to multiple locations for trade, then a private financial agreement will be placed within the file to fulfil audits placed by any government entities involved.
Performance Hour
The Initial Tranche
Most Large files that are valued over $10,000,000 will begin with an initial tranche of a smaller amount that will establish connection and reliability betwenn all working bank entities. Most initial tranches start at $100,000. Delivery time will depend on the location of all acting parties.
Standard IPIP Procedure
Example Procedures
1. SENDER AND RECEIVER EXECUTE, SIGN AND SEAL A DEED OF AGREEMENT, THIS WILL BECOME A FULL COMMERCIAL RECOURSE CONTRACT.
2. THE RECEIVER IS OBLIGATED TO PROVIDE THE SENDER WITH NECESSARY BANKING DETAILS FOR THE TRANSFER OF THE FUNDS TO THE RECEIVER’S BANK ROUTER (IP/IP)
3. THE RECEIVER PROVIDES THE AGREEMENT TO THEIR BANK AND OBTAINS CONSENT.
4. THE SENDER ISSUES MT 199 ON READINESS TO ISSUE A SPECIAL TRANSFER VIA IP-IP TO THE RECEIVER’S BANK. (MAY NOT BE INCLUDED)
5. RECEIVER ISSUES SWIFT MT 199 ON READINESS TO ACCEPT TRANSFER VIA IP-IP. THIS IS BANK CONFIRMATION AND RWA.
6. THE SENDER WILL TRANSFER THE FUNDS VIA IP-IP TO THE RECEIVER’S SERVER AND ON SUCCESS WILL PROVIDE TO THE RECEIVER A SECURE COPY OF THE SERVER SLIPS WITH THE DETAILS OF THE TRANSFER WITHOUT FINAL CODES.
7. THE RECEIVER (OR THIRD PARTY COORDINATED WITH THE RECIVER ON BEHALF OF THE RECEIVER) ISSUES PGL ENDORSED BY BANK FROM EACH IPIP TRANSFER AMOUNT.
8. AFTER VERIFICATION OF PGL THE SENDER WILL TRANSFER TO THE RECEIVER FINAL CODES FOR DOWNLOADING.
9. UPON THE SUCCESSFUL DOWNLOADING OF THE FUNDS DURING 24 HOURS AFTER SERVER SLIPS WITH FINAL CODES IS PROVIDED, RECEIVER’S BANK OFFICER IS RESPONSIBLE TO BLOCK.
10. ADDITIONAL TRANCHES WILL BE MADE BY THE SENDER, RECEIVED AND RE-DISTRIBUTED/RE-INVESTED BY THE RECEIVER UNDER THE UP-MENTIONED PROCEDURE.
How Long does IPIP Take?
5 BANKING DAYS TO RE-DISTRIBUTE, FOR RE-INVESTMENT PURPOSES, THE FUNDS AND EXECUTE PAYMENT AS PER CONDITIONS OF BPU’s/PGL’s. THIS PAYMENT Can also BE DONE BY a THIRD BANK.
