I apprciate and blv tis a good rule to be embrcd mo 4 those ever cmpng of bng cond in big deals bung lnd and oter assets its a safety prec

Dignityis everything keep it intact

@kbeef and Intelligensia......Quite educative stuff.

@Silk....after reading the above,ya piece is abit confusing. That chqs will still take 4 days to clear? So what real time are we talking of .....

I was born intelligent,education ruined me.

@Jangwa,that was for illustrative purposes and most definitely not the Kenyan scenario.. Labda some day when we'll be a 24hr economy.

@FundamentAli

dude,you need to shift kabisaa from the idea of multiple cheques.

There is no amount too large for RTGS! Heck,Banks use it to settle business going to hundreds of millions of KShs. & even billions amongst themselves/ and high-networth clients (like the ones paid PET ALLOWANCES in hundreds of thousands of KShs,but that's a story for another day).

So 20m Kenya money is merely pocket change for the system.

For your kind of transaction of say kshs 20m where u have 20m cash ( umeiba wapi hii yote,mulika mwi... ),one option is u can place the cash on fixed deposit at good rates and get a cash-collateralised bank guarantee of same amount which you can give then your lawyer. In this way the cash asset also sweats to your advantage.But note the Bank will not refund your guarantee until either you return its guarantee or the beneficiary confirms in writing it is no longer needed. Even if you invest same amt in t-bills,any bank should be able to give you a bank guarantee of same amt against the lien created on the deposit by CBK.

For such colossal amounts however,one would have to very clear about the amount and validity of professional indemnity of the lawyers.






..there's nothing,absolutely nothing really,that I can't do if I put my mind to it.

@FundamentAli;

Yours is a case of bank staff who do not understand banking...nothing to do with RTGS...

And,hey,this is a common disease in corporate Kenya. There are just too many people working in businesses that they do not understand. This is one of the greatest factors responsible for bad service in Kenyan companies

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)