Legal & Compliance Function

Roles and Responsibilities

 Main Role

 Know your applicant business (KYB)

 Know your customer
 Screening of customer data Using internal system
 Verify Transactional documents
 Vetting of Non standard Bank Guarantee by Legal Team
 Raise concerns / queries on contract or agreement related to
transactions.
 KYB – KNOW YOUR BUSINESS

 It Involves identifying and verifying key Personal associated with business

 Understand the business core Activities

 To know who are all the Directors and Shareholders

 Collect the UBO ( Ultimate Beneficial Owners) details

 Obtain the Trade License certificate

 KYB – KNOW YOUR BUSINESS

 Seek for latest audited financial report or Provisional report

 Obtain minimum 6 months bank statement

 Obtain authorised Signatory Information

 Know the Principal place business / Registered address

 Acceptable Documents for Address Proof

Below documents not to be older than 3 months from the current date

 Latest Bank statement with company name and address held duly
attested (OR)
 Latest Electricity bill or Internet Bill having our applicant name and
address held duly attested ( OR)
 Latest Landline Telephone number with company name and address
held duly attested ( OR)
 Valid/ Renewed Rent/ Lease agreement showing our applicant name as
a tenant
 KYB – KNOW YOUR CUSTOMER

 Check for valid Identification proof like Passport, National ID . Minimum

two ID proof issued by the Government is required

 Obtain Reference letter issued by CA or Advocate for Individual directors

/ controllers

 Verify address by obtaining Dynamic proof of address document

 EEB does AML Check on the Individual and Bureau Check on Company
 Screening of customer data

 Information collected from the customer are gathered and inputted in our internal
system for screening to authenticate the data

 Helps us to create a comprehensive and Holistic view of the customer

like Risk Profile, ownership structure, adverse media Presence etc

 Mitigating the risk of onboarding Illegal or Illegitimate companies

 Able to identify the customer are part of sanction, watchlist , PEP etc
 TRANSACTION DOCUMENTS

 Obtain (BR) -Board resolution ( In EEB format) and Verify the execution

 Check Bill of exchange , Application form .source of funds Declaration

cum Undertaking are signed by the Authorised person as per BR

 Verify Proforma Invoice Terms with SPA ( Sale and purchase Agreement)

 Obtain Guarantee Indemnity from the directors – To be executed under

Individual Capacity without affixing company name or Stamp
 ACCEPTABLE CRITERIA

 All photocopies of KYC documents necessarily to be attested either by

a) Notary Public ( or)
b) Legal Advocate

 The attestor necessarily have to attest all pages of the document saying “Certified True copy “
with signature , stamp and date .

 Post clearance mail from compliance our Applicant has to courier all the original KYC attested
documents and Transactional documents to our Trdfin Support services P Ltd – Global back office

 Guarantee Indemnity have to be attested but WITHOUT mentioning Certified true copy
Shareholder Format With UBO
Shareholder Format With UBO
Questions and Answers..