THE DIFFERENCES BETWEEN THE SWIFT MESSAGING TYPES: SWIFT MT799 AND SWIFT MT799 vs MT760 MT799 is a digital message that is sent between banks; with the aim of showing funds or proof of deposits. It is important to note that it is not used as a...
These are the top 10 Tips On How To Detect Fake BG/SBLC Providers [caption id="attachment_1112" align="alignnone" width="500"] Top 10 Tips On How To Detect Fake BGSBLC Providers[/caption] The number of sblc scammers and fake bank instrument providers is alarming, so today we want to show our readers...
BANK DRAFT (CASH BACKED) A bank draft is a check drawn on a bank’s funds and is guaranteed by the bank that issues it. A bank draft is safer than a personal check when accepting large payments. To get a banker’s draft, a bank customer must have...
Using Bank Guarantees (BG) & Letters of Credit (LC) In International Trade. This article is about using Bank Guarantees (BG) and Letters of Credit (LC) In International Trade. Bank Guarantees (BG) and Letters of Credit (LC) Are Used In International Trade Transactions To Finance Imports and export...
Top 14 Reasons Why People Fail in BG/SBLC Transactions. 1. Unworkable Customers Procedures: Almost everyday we receive offers from brokers claiming that a certain customer wants a BG or SBLC issued according to the customer’s own terms and conditions. Obviously this is not POSSIBLE; Banks do...
The Truth About Bank Instrument (SBLC/BG) Upfront fees (Myths and Legends Busted!) Sometimes I can’t help but shake my head when I hear comments like “I need a bank guarantee or a standby letter of credit but I don’t want to pay any upfront fees” or “...
An Overview of a BG/SBLC Deed of Agreement A BG/SBLC Deed of Agreement is a formal contract that outlines the terms and conditions under which a Bank Guarantee (BG) or Standby Letter of Credit (SBLC) is issued. These financial instruments are often used in international trade...
Understanding Deutsche Bank AG's Standby Letter of Credit: A Comprehensive Guide In the intricate world of international finance, instruments like standby letters of credit (SBLC) play a pivotal role in facilitating transactions and providing security. This article delves into the nuances of Deutsche Bank AG’s 760...
What Is a Bank Guarantee? How They Work, Types, and Examples Few days ago, we wrote a Comprehensive Guide about Standby Letters of Credit, but today, we will focus on Bank Guarantees (BG), Meaning, Types and Uses. As a business owner, if you are looking to engage...
In the world of finance, securing reliable and legitimate bank instruments is crucial for businesses and individuals alike. Whether you're seeking a Bank Guarantee (BG), a Standby Letter of Credit (SBLC), or other financial instruments, it's essential to work with genuine providers. At Grand City...
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