We are Top Providers of SBLCs- Standby Letters of Credit.
A standby letter of credit (SBLCs), refers to a legal document that a financial service company undertakes and guarantees the payment of a specific amount of money to a seller if the buyer defaults on the agreement. A standby letter of credit helps facilitate international trade between companies that may not have been engage in a business transactions before. However SBLC guarantees payment to a seller, the agreement must be followed in exact terms. The beneficiary of a standby letter of credit is confident of performing a business agreement with a reliable financial service company capable of seeing the payment through.
These guarantees are issued for the performance of a contract or an obligation. In case, there is a default in the performance, non-performance or short performance of a contract, the beneficiary’s loss will be made good by the bank. Performance guarantees are mostly used in the construction industry between contractors and the clients. It is a Compulsory financial instrument for government Projects. We can help you obtain your performance guarantee for your next project easily without going through any complex documentation processes .We are just a call away, contact us today.
LETTER OF CREDIT
A letter of credit is a document issued by a bank or financial institution that guarantees payment. Banks act as “disinterested” third parties. The bank doesn’t take anybody’s side, and banks release funds only after certain conditions are met. Letters of credit are common in international trade, but they are also helpful for domestic transactions like construction projects. Letters of credit provide security when buying and selling products or services. Contact us for your letter of Credit requirements. Peakdale will provide you the right advice to ensure a proven Solution taking the hassle out of the process.
PROOF OF FUNDS
Proof of funds is a bond document stating the financial ability of a person or company to proceed in a business transaction with the ability to complete the transaction smoothly without any major setback. The Proof of funds documents are usually issued by a bank or financial institution. The proof of funds documents certifies that a person, company or a corporate firm has a sufficient funds to complete a business project.
A blocked fund is defined as money or capital realized when a foreign operation involving the transfer of funds is blocked as a result of regulations imposed by the government of the country where the money was generated. When a fund is suspected to be generated from illegal activities or criminal acts, the government can impose certain regulations hindering the money from being be transferred. The fund then becomes a blocked fund. For example, a government may place a limit on the maximum amount that may be moved out of a country over a given period of time. At Peakdale we’ll help you with unblocking application case in order to release your funds back to you and complete your transaction. Contact us today for more information.
A written document issued by Bank at the request of the tender for bids of construction and procurement of project, committing that the tenderer will not withdraw or amend its bid during the validity period of the bid, and will sign the contract or submit performance guarantee within the preset time once winning the bid. With a tender guarantee the bank undertakes to pay the beneficiary a certain amount of money if the tenderer withdraws or amend his bid during the validity period of the bid or refuses to comply with the terms of the contract. Contact us with your inquiry and our team will write you back.
Monetization is the process of converting bank instruments such as SBLC into money or legal tender. Monetizing bank guarantee signifies raising finance or a credit line against it. If you have a letter of credit, you might be able to monetize it. For monetization and to raise finance against it, it is paramount that the project financing has been specifically formulated for the purpose of raising finance. Project Financing framed for other purposes cannot be generally monetized or financed. Monetization liquidates the project financing and uses them as reinforcement for cash. Almost any bank guarantee all over the world can be used to fund a project. Project Financing can be leased or it can be owned.
DOCUMENTARY LETTER OF CREDIT
This is an assurance provided by a bank or finance institutions to ensure the importer/buyer, receives the goods under the terms and conditions as initially set out and payment to the supplier as prearranged. The bank or the financial institution will act as an intermediary ensuring both parties terms specified in the DLC are completely fulfilled to receive the payment. In an event of when the buyer is unable to pay after the terms specified in the DLC are fulfilled, seller/exporter can make a compliant document presentation demanding payment, to which the bank or financial institution is obligated to pay. Contact us today for more information.
A remittance is a transfer of money by a foreign worker, a member of a diaspora community, business partners, or a citizen with familial ties abroad, for household income in their home country or homeland. These can be done via a wire transfer, Check, Draft or Mail. Here at Peakdale we offer you low fees and guaranteed exchange rates. Contact us today and we will be glad to help you.
A bank guarantee is a kind of guarantee issued by bank or a lending financial institute to reduce the risk factors for both parties involved in transactions to ensure that the liabilities of a debtor will be met. A bank guarantee enables the customer, or debtor, to acquire goods, buy equipment or draw down a loan, with the service of a financial institute with a contractual commitment to reduce risk factors while inspiring an effective transactions.
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