A client will have to be financially qualified to be served with a fully cash backed, divisible and assignable Bank Guarantee or a Standby Letter of Credit issued by a major world bank, arranged through licensed securities dealers and transmitted via SWIFT MT760.
OUR CLIENTS ARE ESTABLISHED FINANCIAL INSTITUTIONS AND COMPANIES
During our assessment process a client evidences a company’s financial background through audited accounts and by proving last year's revenues. It is expected that last year's revenues (personal, corporate or the sum of both) exceed the face value of the Collateral Guarantee service that is required and you can evidence this through audited accounts. IF YOU CANNOT PROVE SUCH REVENUES, PLEASE READ THIS
OUR CLIENTS ARE SUPPORTED BY ACCEPTABLE BANKS
A borrower’s bank will act as safe keeper for the lender of the securities for the agreed upon period of time. A borrower’s bank will have to support the transaction with an irrevocable financial commitment to pay an agreed lending fee against delivery and verification of the Collateral Guarantee and to act as safe keeper for the lender of the securities for the agreed upon period of time. The client’s bank has 4 different options to conditionally pay for the receipt of the Collateral Guarantee service. (A) Conditional Irrevocable Pay Order (ICPO) endorsed by borrower’s bank, (B) Unconditional Promissory Note payable within 180 days and endorsed by receiving bank, (C) conditional payment SWIFT MT103, (D) Conditional Documentary Credit to be sent by SWIFT MT 700. - IF YOUR BANK DOES NOT ISSUE ANY OF THESE FOR YOU, THEN PLEASE READ THIS.
Key Take Aways:
A Borrower has to be qualified and his company has to be of substance.
A Borrower's bank will have to issue a conditional payment undertaking.
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