(THIS BG/SBLC CAN ONLY BE USED FOR TRADING: PLEASE READ OFFER CAREFULLY)
A Standby Letter of Credit (SBLC) and Bank Guarantee (BG) is a payment guarantee generally issued by a bank “the issuing bank” on behalf of a client “the applicant” securing payment to a third party “the beneficiary” in the event the buyer fail to fulfill a contractual commitment the issuing bank will release payment to the seller.
When buyers issue Bank Guarantees in favor of seller they demonstrate financial capability to fulfill a contractual obligation. BG also provide payment security to the supplier as he/she prepare to deliver the product to delivery port.
The proposed Bank Guarantee facilitate international transactions, as collateral and credit enhancement. The use of Bank Guarantees provides an advantage to buyers or traders who do not want to make down payment to the seller. BG provide fair trade opportunity to pay for the product on delivery at unloading port. sok channy financial service ltd,provides Bank Guarantees / SBLC for serious commodity traders.
• Payment Guarantee:
Can be issued under Buyer’s instruction in favor of the Seller. Provides payment obligation for the Buyer under a proposed contract.
• Performance Bond:
Issued under the Seller’s instructions in favor of the Buyer as a guarantee of proper fulfillment of contract obligations by the Seller.
# MT-760 Standby Letter of Credit (SBLC)
# MT-760 Bank Guarantee (BG)
# MT-799 Proof of Funds (POF) / (Blocked Funds)
#Documentary Letter of Credit (DLC)
AMOUNT AND VALIDITY OF INSTRUMENTS:
Face Value: starting at USD 300,000,000 – USD 700,000,000
Validity: 6 Months or 1 Year and 1 day (with option to extend)
Delivery: By SWIFT
Confirmation: Verification by SWIFT
However, Lessee must show proof of funds that covers the leasing price.
The Bank Guarantees we provide are designed to protect buyer’s commercial interests by eliminating the need to prepay for products or services. It will also discard the need to provide collateral to your bank. Our Bank Guarantee will help minimize your risk and support your cash flow.
1-The lessee submits a letter of intent (LOI) along with deed of agreement (DOA) with full banking coordinates, scanned copy of company registration certificate, scanned copy of passport, Bank statement covering leasing charges and indemnity pay protection agreement.
2-After successful due diligence the provider signs deed of agreement and return a copy to lessee within two (2) banking days. DOA becomes a full recourse commercial contract. Both parties lodge DOA with their respective banks.
3-Provider’s bank issues MT-760 BG/SBLC within two (2) banking days, and provides a swift copy of transmitted BG / SBLC for verification.
4-Lessee confirms transmitted BG/SBLC and pay the Provider the leasing fee and brokers their commission not later than four (4) banking days.
5-A hard copy of the BG/SBLC will be sent via bank bonded courier within Seven (7) banking days.
6-Should Lessee refuse to pay the leasing fees to the Lessor and the brokers commission fees as agreed after (4) banking days of confirmation of BG/SBLC, Provider will instruct the issuing bank to put a claim on the instrument, thereby forcing Lessee’s bankers to release the BG/SBLC to the issuing Bank.
It is important to note that the proposed BG/SBLC cannot be monetized or used in programs such as PPP or loan. For more information about our Trade Finance Program please feel free to contact us.
Should Lessee default to pay the leasing fees to the Lessor and the brokers commission fees as agreed after (4) banking days of confirmation of BG/SBLC MT-760 in lessor’s bank account. Lessor will instruct the issuing bank to put a claim on the instrument, thereby forcing the Lessee’s bankers to release the BG/SBLC MT-760 to the issuing Bank.
The Leased Instruments: (BG) Bank Guarantee (SBLC) Standby Letters of Credit. If you are a potential buyer or trader looking to purchase commodities, we will be delighted to answer any questions you have about this opportunity and to provide you with all the details regarding this services.
Our BG/SBLC Financing can help your trade funded, by providing you with yearly renewable leased bank instruments. We work directly with providers of these instruments.
For more information please feel free to contact us.