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IPIP

IPIP transfers are used to transfer funds internationally for investments, business obligations, or beneficiary payouts. The transfer process involves the sender and receiver signing an agreement, the receiver providing bank details, and the funds being transferred via IPIP to the receiver's bank and account. Additional funds may then be transferred in subsequent tranches following the same procedure.

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Sree Ragavindra Paramasivam
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523 views7 pages

IPIP

IPIP transfers are used to transfer funds internationally for investments, business obligations, or beneficiary payouts. The transfer process involves the sender and receiver signing an agreement, the receiver providing bank details, and the funds being transferred via IPIP to the receiver's bank and account. Additional funds may then be transferred in subsequent tranches following the same procedure.

Uploaded by

Sree Ragavindra Paramasivam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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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...
IP-IP TRANSFER IS USED TO ORDER THE DEPOSIT OF FUNDS 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.
STEP 1 IPIP ONBOARDING PROCESS

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.
STEP 2 - 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.
STEP 3 - 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

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.

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