Product description

• Money market security issued by large banks and corporations
• Mostly used to purchase inventory or as working capital.

Product features

• Discounted that is, interest bearing
• Credit risk of issuer (usually rated).
• Short maturities
• Can be clean or guaranteed.

Your benefits

• Relatively low risk option.
• Alternative to lines of credit with a bank
• Relatively cheaper than using a bank line of credit

The Requirements

Existing Clients

• Letter expressing desire to invest in CP and authority to debit account thereafter
• Custodial authority duly signed by client
• Copy of physical bill duly signed by investor and reflecting issuers name
• Duly signed investment contract confirmation letter showing issuers name.
• Filled KYC form

New Clients

• Account opening form with passport attached and means of identification
• Cheque or lodgment slip
• Custodial authority duly signed by client
• Copy of physical bill duly signed by investor and reflecting issuers name
• Duly signed investment contract confirmation letter showing issuers name.
• Filled KYC form

Application process

• You initiate request and comply with requirements above
• Account officer verifies documents and forwards to treasury
• Treasury raises deal slip and forwards to Trops
• Customers account is debited in line with deal slip instructions
• Contract certificates are generated