Introduction

All entities that use or intend to use Bolero are required to enrol in the Bolero Association Limited (BAL), and become User Members. This is the process which ensures the integrity of the messaging system by signing onto the Rulebook and its procedures. It also brings your company into the User Community, creating the non-proprietary solution which is integral with the Trusted Third Party service provided by Bolero.

There are 4 different routes to choose from, and it is up to the individual Applicant to choose. Advice may be sought from either the Association or Bolero Support service. In each case the Application form must be filled in; after that a very brief summary the different routes is:

	Process 1	If your bank is a User Member of Bolero, apply through your bank.
	Process 2	Some industry service providers have been licensed as Enrolment Facilitators, check to see if you can go through them.
	Process 3	Other Bolero User members you know can sponsor you to join.
	Process 4	You can have your application endorsed by a Notary, this generally requires presentation of more documents.

Terms & Conditions

• The processes rely largely on international banking regulations and in particular the "Know Your Customer" regulations (KYC) if the bank is to run an account for a company.
• The Association requires original documents for enrolment. Photocopies are not acceptable.
• Signatures must be in ink and all letters must be on Company Letterhead Paper complete with an address of the company, the letter must be addressed to Bolero Association Ltd at its address in London, it must be dated and all signatures must be in ink.
• Faxes of originals may be used to speed up the application, but their acceptance will be conditional upon receipt of originals shortly afterwards.
• The Association may contact any applicant in order to verify details.
• If your bank name does not appear on the schedule, it may still be worth contacting it or the Association. Arrangements with a registered Bolero bank may be in place.
• Only SWIFT banks can use this process. A bank application itself will not require a bank reference. The bank is asked to attach a business letter written to the Association on printed bank letterhead paper, asking to join the Association. The letter must identify the bank’s BIC number.
• Each applicant will be considered as an employee of a company and will therefore be subject to commercial data protection, they will not be covered by individual data protection legislation.
• The Association reserves the right to refuse any application.
• Membership of Bolero or the Association does not confer any position of counterparty creditworthiness.

PROCESS 1 Using your Bolero Bank

Recommendation: This process is suggested for companies whose bank is listed as a Bolero Bank. If your bank does not appear on the list, you may contact the Association or Bolero Global Support, who will be able to advise further.

Customer Actions

1. Go to the Application Form and complete on line.
2. Once completed, the document must be printed out and then signed by the person authorised to do so on behalf of your Company.
   To establish the right person for this, identify the person(s) in your company authorised to sign documents and whose signature will also be recorded on your bank’s mandates. This ensures signature on the application form may be endorsed by your bank.
3. Send the completed application form to your Bolero bank with a covering letter headed Bolero Association Application Form.
   To help the bank, briefly explain that you are looking to join the Association and wish the signature(s) on the application form to be verified by the bank.

Banks Actions

4. The bank receives the application form and the supporting letter.
5. The bank writes a letter on bank letterhead notepaper (not photocopy or laser print version), to the Association at its address, stating:
       a.   The bank is processing the application on behalf of their client and confirms it runs a business account on behalf of the applicant;
       b.   Confirms the signature(s) on the Application form is authorised on bank’s mandate;
       c.   Confirm they support the application of their client to become a member of the Bolero Association.
6. The bank must sign the reference letter in ink, physically attach it to the Application form and post to the Bolero Association Ltd.

Bolero Actions

7. On receipt of the documents, the Association will review the contents. Assuming they are complete, the applicant will receive a letter or e-mail from the Association confirming the application has been successful.
8. Bolero will be informed in writing from BAL of the details and will receive the necessary information to complete the processing of Certification.
9. The Applicant will be added to the BAL membership and will receive communications from time to time concerning its function as the Bolero User Group body.

PROCESS 2 Using a Bolero Enrolment Facilitator

Background

The Bolero Association contracts with organisations which it considers suitable to support the enrolment process. These organisations are well known trade bodies that will be able to endorse the details of applicants. A list of these is available at Enrolment Facilitators (EF). This process is therefore recommended for companies who may wish to use one of these listed entities and with whom they likely to have a working relationship.

Customer Actions

1. Go to the Application Form and complete.
2. Once completed, the document must be printed out and then
   • Signed by a person authorised to do so and whose signature will be recognised on the EF’s register if they have one, or
   • If not on the EF’s register, it may visit the EF and have their signature witnessed by the EF. The applicant will need to provide to the EF whatever verification documents required to confirm authenticity of the applicant, probably using a Passport or ID Card.
3. Take to the EF, in addition to the Application Form, a bank a reference which states:
       a.   The bank confirms the it has a business account with your company
       b.   The bank supports your application to become a member of the Bolero Association.
4. Pass these documents to the EF
5. Depending upon the functionality of the EF in question, it may be able to confirm the Incorporation of your company and the status of the signatory to commit the company to legal contracts. The EF may ask you to prove the legal registration of your company and ask for a Power of Attorney or Board Minute, which will confirm your position to sign and commit the company. If in doubt contact the EF in question before presenting your Application documents.

EF Actions

6. Check the Application Form and bank reference and add to it a letter written on Company Letterhead complete with logo and address stating (EF specimen letter), the Applicant is legally registered according to local jurisdictional requirements, that the signature has been witnessed as appropriate and that the signatory is authorised to sign on behalf of the company.
7. The EF will attach his letter to the bank reference and Application form and post to Bolero Association.

Bolero Actions

8. On receipt of the documents, the Association will confirm the contents are as required. The applicant and EF will receive a letter or e-mail confirming that the application has been successful.
9. Bolero will be informed of the details and will receive the information to allow processing of Certification.
10. The member will be added to the list of Bolero Association members and as such will receive communications from the Association concerning its function as the Bolero User Group body.

PROCESS 3 By Nomination from an existing Bolero User Member

Background

Existing Bolero Users can sponsor new applicants to join. If this route is chosen, 2 existing Users will be required to nominate the applicant for enrolment. (Enrolment Sponsorship Form). A bank reference will be required unless your company is listed on recognised Stock Exchange listings. These companies are entitled to substitute the reference with up to date published Company Report and Accounts.

Customer Actions

1. Go to the Application Form and complete.
2. Print out and sign. The signatory must correspond with the company person identified on the Enrolment Sponsorship Form. Read though the sponsorship form to establish the status of person(s) required to sign the Application Form.
3. Go to the Sponsorship form and Section A and B. Send this to your sponsors to complete Section C and return. The sponsor can only be a Bolero User member.
4. Obtain a bank reference, addressed to the Association on bank letterhead paper. This should
       a.   Confirm the bank it has a business account with your company
       b.   Confirm the bank supports your application to become a member of the Bolero Association.
   Or 5.
5. NO bank reference will be required if your company is listed on an identified Stock Exchange listing. The bank reference may be substituted with an up to date copy of the published Company Report & Accounts.
6. Send to the Association the completed application form, sponsorship forms, the bank reference or report and accounts as appropriate.

Bolero Actions

7. On receipt of the documents, the Association will confirm the contents are as required. The new member and senior manager, if different will then receive a letter or e-mail from the Association confirming the application has been successful.
8. Bolero will be informed of the details and will receive the information to allow processing of Certification.
9. The member will be added to the list of Bolero Association members and as such will receive communications from the Association concerning its function as the Bolero User Group body.

PROCESS 4 Application through a Notary

Background

This process uses the capacity of a Notary to confirm the existence and proprietary of the applicant. A Notary is not typically part of the trading community, therefore he / she will require more documentation to enrol the customer.

Customer Actions

1. Go to the Application Form and complete, but do not sign until in the presence of the Notary. The signature must be witnessed by the Notary.
The Application form must be supported by a
    a.   Bank reference confirming the existence of an account relationship with a SWIFT bank. The bank reference must be addressed to the Association.
    b.   A Power of Attorney or Board minute, confirming the company has conferred authority to the signatory to sign on behalf of the Company.
The applicant should take these to the Notary as supporting documentation.

Notary Actions

3. The Notary is to witness the signing of the application form.
4. The Notary should then bind and seal the Application form together with the Notary statement, which confirms the signature has been witnessed.
5. If the Notary is in a position to confirm the signatory has authority to commit the company, the Power of Attorney or Board minute may be dispensed with.
6. If the Notary by virtue of the country he operates from, is not a member of the Union of Latin Notaries, then the Notary’s endorsement must be supported by an Apostille.

Customer Actions

7. The Application should be sent direct to the Association, the Notarised Application Form, the bank reference, and POA or Board minute as necessary.

Bolero Actions

8. Assuming the documents are complete, the applicant will receive written confirmation either by e-mail or letter to the senior company representative as well as the Applicant if different, of the successful application.
9. All necessary details will be passed on to Bolero to complete the Certification process.
10. The member will be added to the list of Bolero Association members and as such will receive communications from the Association concerning its function as the Bolero User Group body.