E. E. D. C.

DTC Receiver Questions.

EEDC Advisory:

For any new receiver DTC, the basic questions are as listed. These should eliminate at an early-stage,
receivers or their banks that cannot handle a real DTC.
Every question must be answered in the affirmative.

1. Does your bank have DTC Terminals and DTC officer approved and authorised to carry out a
DTC download transfer?
2. Does the receiving bank account have the capabilities of receiving the size of funds to be
downloaded?
3. Has the receiving bank approved DTC transfers based upon information given by EEDC?
4. For extremely large amounts it is good practice to notify the receiving country Central Bank for
clearance. Has clearance been granted?
5. Is the receiver willing to get the bank to sign a Letter of Transfer Guarantee and get it endorsed by
the bank, so that EEDC percentage is legally transferred on completion of each tranche?
6. Is the bank willing to allow the name and official bank email address of the DTC officer to be put
on the contract? This as it is THE ONLY email address that the codes will be downloaded to.
Without this no transfer can take place. A Lawyer or Attorney email WILL NOT BE
ACCEPTED.
7. In certain countries, full clearance and permission to move funds out of the country are required to
be authorised by the incumbent financial authority. It is essential that this is agreed and authorised
in writing before moving to contract signature.
8. Will the receiving bank allow a new account to be opened for EEDC in which to place their
percentage? We prefer to leave our funds in the receiving bank initially. Therefore, without a
receiving account for EEDC 60% established the DTC may not take place.

The following are IP/IP or IP/ID questions, if raised by a potential DTC receiver, their bank, or anyone
else it will eliminate them as not having a clear, or pertinent idea about a genuine DTC download:

1. Can we get a screenshot of the account for Proof of Funds?

No. For bank and funds security reasons. A genuine DTC Bank Officer will know this and not ask.

2. Can we get proof of ownership?

C/Panamá, 12 – bajo – 28036 Madrid Spain

Phone: +34 91 457 6222 Fax: +34 91 457 6427
e-mails: eedc@eedcouncil.org - www.eedcouncil.org
 No. Proof of Ownership is found on the DTC terminal screen when the first codes are entered. A
DTC Bank Officer will know this and not ask.

3. Can we have the name of the bank officer at the sending bank?
No. He doesn't exist. How can an off-ledger account have a bank officer allocated? Funds from a
DTC account are not on ledger until the funds are transferred.

4. We want to use our agreement/contract?

No! The EEDC contract is lodged in an electronic format on the sending server for auditing
verification for security reasons.

5. Can we change/amend the contract?

Minor changes may be considered but by email request only.
If a receiver of lawyer changes the EEDC contract without permission it will be rejected.

Basic notes to assist the receiver on how to recognise a DTC capable Bank:

Any bank that asks for Proof of Funds of Proof of Ownership is usually not dealing with DTC download.
They are dealing with IP/IP or IP/ID, or transactions related to Swift.

DTC is a pure code-based system devised by core European and Asian banks to allow vast sums of cash
to be held discretely off-ledger and to be moved between those banks without effecting the main-stream
financial systems. Therefore, the funds do not show on the bank’s books. Imagine the affect that would
have on the financial structures of the countries that hold those funds if they were visible. A DTC transfer
cannot be carried Ledger to Ledger as it is not on ledger runtil the DTC has taken place.

So, there is NO bank officer at the sending bank as there are no visible accounts for them to manage. In
addition, the risk of a person having the knowledge of such accounts would be remarcably dangerous. He
would be under threat from countries, not companies, to transfer those huge funds. He would have to be
guarded day and night as would his family.
Hence it is pure coded system and only a receiving bank officer certified to operate a DTC terminal can
use the codes. And then these are one off. After each transaction they are amended.
Therefore, only entry of the codes is allowed, to verify account Due Diligence information and AML/CTF
compliance. This is also why it is so very important to understand that the codes will only be sent to the
DTC Bank Officer official bank email address and none other.

Enrique Aguirrezabala
Global President and CEO
EEDC

C/Panamá, 12 – bajo – 28036 Madrid Spain

Phone: +34 91 457 6222 Fax: +34 91 457 6427
e-mails: eedc@eedcouncil.org - www.eedcouncil.org