STANDBY LETTER OF CREDIT (SBLC/SLOC)
LC - BG
PROOF OF FUNDS
When we say we will help you build your vision, we do standby that promise for more than two decades. You don’t have to lose your project or deals. With experienced team members, our group of investors and strong network with several financial institutions around the globe, We provide one of the most secure funding guarantees in the industry so you can complete your Bank Guarantee Funding with us with confidence, peace of mind and safety. Confirming there’s sufficient funds on account to fully settle your transaction has never been easier. Funds are reserved at the Funder’s Bank solely for settlement of your transaction. The Funders Bank issues the 799 Payment Guarantee with Full Banking Responsibility & Liability.
This means if the funder defaults on completing the payment for our BG for any reason, then the funder’s bank will complete the payment and is standing behind the 799 payment guarantee with the banks full responsibility and liability. This is one of the highest and most secure payment guarantees available.
Ask about SBLC Providers when you are completing transactions, particularly when banks are involved, it is important to protect all parties. With standby letters of credit, or SBLC, you can create assurance that invoices or loans will be paid as promised, even if the borrower defaults on the loan or invoice. Obtaining SBLC financing is the best way to create a guarantee of funds, even if the person who is promising to pay doesn’t come through with the appropriate funds.
A financial standby letter of credit guards against disputes. This is because the letter of credit clearly states the obligations of all parties that are involved in the transaction. In many cases, there is an additional party besides the buyer and seller to further guarantee payment if the buyer fails to follow through on the payment agreement.
As a Back-up Option, the primary use of standby letters of credit created by SBLC providers is to serve as a back-up option that is only used if the buyer fails to pay. However, it does require some form of collateral or line of credit to back up the letter. This is why the third-party involved in the transaction is typically a bank that offers up the line of credit to ensure that a payment will be made to the seller. This gives sellers greater assurance of payment, especially for larger transactions.