Guess I have already talked about this. The largest bank in brazil, with branches in Europe and US have applied for its TLD they asked for a letter of credit. Among banks
only if are almost bankrupted that you will ask a “security” as a letter of credit from another bank. I personally ( since I was helping them to apply) talked with the external groups to explain how the financing system works, all the accounts from the bank
were open ( the bank is of course in the stock market, controlled by central bank etc so the amount of money to pay or implemented the TLD was almost ridiculous for the bank comparing with its billions of public informed profit they had December of the year
before. Even then took me several hours phone call, explanations etc etc etc to finally they accept the bank itself guarantee.
The problem is the different legislation in each country the examiners did not access before hand to deal with the case. Best solution, if the accounts are public in the
stock marked and is large enough to buy ICANN many times I believe the rule shall be something in a better English:
“Letter of credit is needed only if applicant’s annual accounts are not public and accessible and showing an amount of profit that shows at least X times the expected
cost of the whole implementation of the domain”
my 2 cents.
Vanda Scartezini
Polo Consultores Associados
Av. Paulista 1159, cj 1004
01311-200- Sao Paulo, SP, Brazil
Land Line: +55 11 3266.6253
Mobile: + 55 11 98181.1464
Sorry for any typos.
From:
Gnso-newgtld-wg-wt1 <gnso-newgtld-wg-wt1-bounces@icann.org> on behalf of Maxim Alzoba <m.alzoba@gmail.com>
Date: Tuesday, January 9, 2018 at 10:01
To: "gnso-newgtld-wg-wt1@icann.org" <gnso-newgtld-wg-wt1@icann.org>
Cc: "gnso-secs@icann.org" <gnso-secs@icann.org>
Subject: Re: [Gnso-newgtld-wg-wt1] Recordings, attendance & AC Chat New gTLD Subsequent Procedures Sub Team Track 1 Overall Process/Support/Outreach Issue call on Tuesday, 09 January 2018
Hello All,
After listening to the mp3 of the call, and looking through the chat record...
I came to the conclusion that we have missed one really important item,
which should be reviewed as a separate one it is COI.
I think we need to deal with COI (Letter of Credit ) at this point (without it you could not apply for TLD - Q50).
The process was not clear , companies has to spend money on updates to their letters of credit (due to ICANN's lack of
guidance of what they wanted, and lack of understanding of how banking works outside of US).
Requirements to letters of credit should be in place before the round starts.
And we need to ask ICANN about some clarifications:
recent EBERO for .wed - was it funded by LOC?
how much was withdrawn?
After we have answers to it, it will be possible to evaluate relevance of minimal/maximum requirements to Letter of Credit
(info bits were issued as an advisories, announcements
which was not part of AGB
).
P.s: this item has direct impact on costs and ability of the legal bodies to participate (predictability and transparency).
Sincerely Yours,
Maxim Alzoba
Special projects manager,
International Relations Department,
FAITID
m. +7 916 6761580(+whatsapp)
skype oldfrogger
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