The Documentary Letter of Credit, commonly referred to as LC or DLC, is a formal commitment made by a bank to the seller (beneficiary) of goods or services. Letters of Credit serve as a financing tool for international trade, wherein a bank (the issuing bank) makes a binding promise, upon the request and for the benefit of its client (the applicant), to pay the exporter (the beneficiary) upon receipt of various documents that adhere to the terms of the credit, thereby demonstrating the completion of a contractual obligation within a specified timeframe.
MetroBancorp has extensive experience in providing high-quality banking instruments. We focus on assisting importers whose current banking arrangements do not adequately satisfy their needs.
Typically, we do not require collateral, and no fees are incurred unless the appropriate instrument is issued.
A Proof of Funds is a document demonstrating that the client has a certain financial capacity. Different formats may include bank letters, TELEX or SWIFT confirmations, phone/fax verification, Certificates of Deposit (CD’s), and/or account or custody statements. The purpose of the document is to ensure that the funds required for the transaction are obtainable and legitimate.
MetroBancorp is highly experienced with the provision of funding advices. We specialize on assisting those clients whose existing bank facilities are unable to meet their requirements.
Generally, we do not require collateral and no fees are charged without the proper instrument being issued.
The Standby Letter of Credit (SBLC) and the Bank Guarantee (hereafter referred to as ‘Bank Guarantee’) serve as payment assurances typically issued by a financial institution (the issuing bank) on behalf of a client (the applicant). These instruments ensure that a payment is made to a third party (the beneficiary) in the event that the client does not meet their contractual obligations.
Bank Guarantees reflect the client’s ability to repay and demonstrate their financial stability and creditworthiness to their business partners. They are commonly utilized in international trade transactions as security and to enhance credit. The use of Bank Guarantees is particularly beneficial for companies that prefer not to risk their own capital.
MetroBancorp offers a comprehensive range of guarantees recognized in international practice, including:
MetroBancorp offers Bank Guarantees that are specifically structured to safeguard your commercial interests by obviating the necessity for advance payments for goods or services, as well as the requirement to provide collateral to your financial institution. These guarantees serve to mitigate your risks and enhance your cash flow.
Please reach out to us for a comprehensive evaluation of your business requirements.
The Metro Group of Companies provides corporations, institutions, governments, and entrepreneurs profound solutions and a broad range of financial products for our clients’ individual needs.
Our multi-national experts will bring specific industry, regional, and product expertise to each client; advancing our finance group’s industry leadership in devising and executing the most innovative, customized answers to the most challenging issues in the global marketplace.
Our services include, but are not limited to:
Asset Management — With a great depth and breadth of expertise, we help clients achieve their goals through a wide array of strategies, in every major sector and asset class through various distribution channels.
Project finance — Structuring privatizations, limited recourse and non-recourse finance transactions.
Financial and regulatory advice — Using our network to keep current on developments and advising on the practical effects of international regulatory trends.
Loans and credit facilities — Structuring cross-border facilities, secured and unsecured, and trade-financing transactions.
Private Equity — Structuring and organizing new funds, structuring and executing institutional and management-led buyouts, public-to-privates, follow-on acquisitions, IPOs and trade sales. Areas of expertise include traditional private equity, alternative asset funds (e.g., real estate, infrastructure and oil & gas) and hedge funds.
Bank Instruments and Securities — We represent financial institutions and corporate entities in connection with the issuance of bonds, notes, commercial paper, and other capital market instruments.
Bank Proof of Funds — Our bank proof of funds irrevocably confirms funds availability by SWIFT from major banks. Amounts between $10 Million and $500 Million USD are readily available; larger amounts can be arranged.
Credit Enhancement — We create and place highly structured credit enhancement and targeted risk capital products that provide efficient capital solutions for large investment projects.
Whatever your financing needs may be, our team of specialists has the experience and capability to find a solid solution to fulfill them.
We provide personalized banking solutions for individuals and businesses From checking accounts to business loans and online banking, we’re here to help you achieve your financial goals.
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