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INFOLAWYER, Attorney
Category: Legal
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Experience:  Licensed attorney helping individuals and businesses
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Hi, We are a private lender here in the usa. Our proposed client

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Hi, We are a private lender here in the usa. Our proposed client who would like a loan of 20 million is in Thailand. He is insisting on us transferring the money by way of a form called MT#760. He says this is the law. In the past we have never used this form to transfer a loan internationally. Please tell me who is right. Must we use this form to transfer 20 million usd into Thailand? Or can we issue it legally straight into his bank account without the form? I await your reply.
Submitted: 1 year ago.
Category: Legal
Expert:  INFOLAWYER replied 1 year ago.
Hello and thank you for the question. I am sorry to read of this dilemma. I would concur with your lawyers and suggest not agreeing to the form. It adds expense. It provides no additional protection. As lender you have the power and typically set the terms of transfer you are comfortable with. If you have proper means of transfer, have conducted your due diligence, and have adequate collateral in event of default, those are the key factors in taking on the transaction.
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 50293
Experience: Licensed attorney helping individuals and businesses
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