Letter Of Credit
Welcome to TFG’s Letters of Credit hub. Find out how we can help you access Letters of Credit to increase your imports and exports to guarantee the payment and delivery of goods. Or, discover the latest research, information and insights on Letters of Credit here.
Standby Letter of Credit
A Standby Letter of Credit (SBLC) is a guarantee from a bank that ensures payment to a beneficiary if the applicant fails to meet their contractual obligations.
Bank Guarantee
It acts as a safety net for the beneficiary, ensuring that they receive payment or compensation if the borrower fails to meet their obligations. Bank Guarantees are commonly used in various transactions, including loans, contracts, and trade deals, to provide assurance and build trust between parties.
Proof of Fund
Proof of Funds (POF) is a document or statement that verifies a person or entity has the financial resources necessary to complete a transaction or obligation. This proof can come in various forms, such as bank statements, letters from financial institutions, or investment account statements. It's often required in scenarios like real estate purchases, business deals, or visa applications to demonstrate financial capability and ensure that the individual or entity can meet their financial commitments.