Many of our clients find themselves in a “chicken and egg” situation.
They want to start a deal and so does the other party – buyer or seller. But no one wants to commit themselves first. The buyer doesn’t want to issue a letter of credit until the supplier has issued a performance bond. The supplier doesn’t want to issue a performance bond until the buyer issues a letter of credit.
Our SWIFT messaging can help start the transaction. SWIFT messaging can be used to send the following documents:
A Ready Willing and Able Letter (RWA)
It demonstrates the intent and capability of the clients to enter into a financial business transaction both legally and financially.
A Proof of Funds Letter (POF)
It is a document that assists the seller in knowing that the buyer has cash funds available.
A Bank Comfort Letter (BCL)
It is a letter that confirming the intent and capability of the clients to enter into a financial business transaction both legally and financially.
Any business related message that benefits from the added weight of going through the SWIFT System.
All the above documents, after issued, are sent to the beneficiary via MT799 SWIFT message.