#Loans: #Personal Loans#Business Loans#Secured Loans#Unsecured Loans#International Project Financing etc)
Purchase Bank Instruments (Bank Guarantees and Standby Letter of Credit)
#Lease Bank Instruments #(BG#SBLC#DLC#Letters of Credit)
#Letters of Credit (DLC, L/C, #Usance LC)
#Investments and Wealth Management
#Insurance Underwriting Services
#PPP and Trading Platforms
#Proof of Funds (POF)
#Corporate Finance
#Blocked Funds
#Escrow Services
#Private Equity
Our expert staff can work with clients to arrange their
transfer Letter of Credit, performance guarantee requirements, cash
against document requests and other such trade instruments by using our
extensive global banking facilities.
Sok channy
Financial service ltd facilitates and manages the process of the
opening of Letters of credit on behalf of its clientele, and continues
the ongoing management of the letter of credit process throughout the
period for which a transaction may occur.
The
services offered by Sok channy Financial service ltd have facilitated
excellent relationships in which world banking institutions work in
conjunction with Sok channy Financial service ltd expert staffs, the
company avails itself of the foremost experts in the World of Trade
Finance, and the criteria set forth under UCP 600 for documentary LC’s
and ISP98 for standby letter of credit or bank guarantees.
These alliances are utilised to create opportunities for growth and profitability for our clients’ companies.
Understanding and Using Letters of Credit:
Letters
of credit accomplish their purpose by substituting the credit of the
bank for that of the customer, for the purpose of facilitating trade.
There are basically two types: commercial and standby. The commercial
letter of credit is the primary payment mechanism for a transaction,
whereas the standby letter of credit is a secondary payment mechanism.
Commercial Letter of Credit:
Commercial
letters of credit have been used for decades to facilitate payment in
international trade. Their use will continue to increase as the global
economy evolves.Letters of credit used in international transactions are
governed by the International Chamber of Commerce Uniform Customs and
Practice for Documentary Credits. The general provisions and definitions
of the International Chamber of Commerce are binding on all parties.
Domestic collections in the United States are governed by the Uniform
Commercial Code.
A commercial letter of credit is a
contractual agreement between a bank, known as the issuing bank, on
behalf of one of its customers, authorizing another bank, known as the
advising or confirming bank, to make payment to the beneficiary. The
issuing bank, on the request of its customer, opens the letter of
credit. The issuing bank makes a commitment to honor drawings made under
the credit. The beneficiary is normally the provider of goods and/or
services. Essentially, the issuing bank replaces the bank’s customer as
the payee.
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SBLC and DLC, Standby Letters of Credit (SBLC), top letters of credit
providers
Elements of a Letter of Credit
A payment undertaking given by a bank (issuing bank)
On behalf of a buyer (applicant)
To pay a seller (beneficiary) for a given amount of money
On presentation of specified documents representing the supply of goods
Within specified time limits
Documents must conform to terms and conditions set out in the letter of credit
Documents to be presented at a specified place
Kindly contact us today for all your financial needs.
Skype: www.sokchannyfinancial
Website: www.sokchannyfinancial.com
Email: sokchannyfinancialsvc@gmail.com OR
NOTICE: Brokers are 100% welcomed and protected. Our brokers are paid handsome commission for every successful transaction.
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