Are you planning to import goods from overseas suppliers? Is your supplier asking for proof of funds from you to verify that you are financially stable to purchase the required goods from them? Are you planning to purchase goods and expand your business without investing your cash funds? Then you can make use of SWIFT MT799! With Comfort Letter from Bank, we can show your client that you’re financially stable & you have the required funds to import goods as per the agreed contract.
What is a Bank Comfort Letter?
Bank Comfort Letters is an assurance issued by a bank on behalf of their client to assure their financial stability to embark on a new project or trade deal. Further, this MT799 is mostly used in the purchase of bulk goods. In the event, in which the seller wants to verify the credit strength of the buyer; before signing the import contract.
Even though this MT799 stands to prove the financial strength of the buyer, it doesn’t give any assurance for payment or the supply of goods, or the completion of tasks. In reality, this BCL is just the official confirmation that bona fide the financial worth of the buyer.
With the issued BCL, the supplier verifies the financial strength of the buyer. And then, they will send the POP (Proof of Products) to the buyer’s bank. With the POP, the buyer gets assurance that the supplier will be able to supply the goods they required. By doing so, BCL gives the required assurance to both parties.
How to Get Bank Comfort Letters?
To get Comfort Letters from Banks, you need to block your certain cash margin in your account. And based on the available cash margin, your bank will provide Comfort Letters on behalf of your company. In case, if you don’t have enough money available in your account, then the banks will ask you to deposit a certain cash margin to your account.
If you face a lack of cash funds to deposit, then your bank will not be able to issue the required BCL on behalf of your company. While, in such cases, you can get help from us to avail BCL MT799 without blocking your cash capital.
There is no long-term process & procedure to avail BCL MT799 from us. We have our own Facilities available in European Banks which we used to provide trade finance facility for our clients.
If you contact us with your BCL request, we will facilitate the required MT799 from our account. This states that you are financially stable to enter into the contract.
Sign more trade deals and contracts by proving to your supplier; that you have enough funds to purchase goods as per the signed contract! Contact us now & get the Comfort Letter from rated banks within 48 hours!
Get BCL MT799 from Us to Show Your Financial Strength