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Sok Channy Financial Services Ltd. #455, Monivong Blvd, Phnom Penh Tower, Phnom Penh, Cambodia. Email: sokchannyfinancialsvc@gmail.com Telephone: +855 965 904 672 Skype: wwww.sokchannyfinancial Darlehen, Darlehen, Darlehen Wir sind hier, um Ihre finanzielle Situation zu verbessern. Viele beantragen und erhalten ihr Darlehen mit geringen Zinsen gewährt und genehmigt. Worauf warten Sie noch? Bewerben Sie sich jetzt Sok Channy Financial Service Ltd. Darlehen und Investment Company. Wir sind hier, um Sie aus finanziellen Bindungen herauszuholen und Ihnen zu helfen. Echte Anbieter von BG, Echte Anbieter von DLC, Echte SBLC-Anbieter, Anbieter internationaler Bankinstrumente, Real Bank Instrument Company DLC für Import / Export-Direktkreditgeber, effektive Anbieter von Finanzinstrumenten, echte Bankgarantieanbieter, echte Bankinstrumentenanbieter BG-Anbieter, BG-Anbieter, BG / SBLC-Anbieter in Asien, direkte Anbieter von Bankgarantien, Leasing von Bankinstrumenten SBLC-Anbieter, sblc-Anbieter in Amerika, sblc-Anbieter in Kanada, sblc-Anbieter in Singapur, Standby Letters of Credit (SBLC), Top Letters of Credit-Anbieter sblc-Anbieter in Amerika, #internationalbankguaranteeproviders, Lease Bank Instrument-Anbieter, sblc-Anbieter in Kanada, sblc-Anbieter in Dubai ECHTE ANBIETER VON FINANZINSTRUMENTEN, ECHTE Anbieter von Bankinstrumenten Leasingbank Instrumentenanbieter, Leasingbankinstrumente ECHTE ANBIETER VON FINANZINSTRUMENTEN, Real Bank Instrument Company, SBLC, SBLC und DLC, Standby-Akkreditive (SBLC), Top-Briefe von Kreditanbietern Skype: www.sokchannyfinancial Website: www.sokchannyfinancial.com E-Mail: sokchannyfinancialsvc@gmail.com

TO BECOME A COMPANY BROKER OR AGENT

Sok Channy Financial Services Ltd. #455 Monivong Blvd, Phnom Pen Tower, Phnom Penh, Cambodia. Email: sokchannyfinancialsvc@gmail.com Website: http://sokchannyfinancial.com/ Telephone: +855963259237 Skype: www.sokchannyfinancial Hello thank you so much for your interest in our Financial Services. Before anything, I want to start this email with good wishes, it doesn't matter whether you do business with us or not, but my prayer is that May this year 2020 be a triumphant entry into your gate of success, good health, long life and all the best things you ever wish for yourself. I pray that it will usher you into your world of happiness, success and laughter. However, it is important that I introduce myself. My name is SOK CHANNY and I am the Managing Director/CEO of SOK CHANNY FINANCIAL SERVICE LTD (SCFSL). Eventhough we are permanently domiciled in CAMBODIA, SOK CHANNY FINANCIAL SERVICE LTD(SCFSL) has the financial muscle to finance any kind of profitable project or business locally & internationally. I make proud to tell you that we are one of the first companies that started processing and issuance of bank financial instruments such as Bank Guarantees, SBLC DLC, Letters of Credit etc and we are also one of the most reliable loan companies in Asia. OUR BRIEF LOAN TERMS IS AS FOLLOWS: LOAN ANNUAL INTEREST RATE: Our Interest rate is 3% per year. MINIMUM LOAN AMOUNT: The minimum loan amount is $1,000,000.00 (One Million US Dollars). MAXIMUM LOAN AMOUNT: The maximum loan amount is 500 Million USD. In some cases we can approve bigger loan amounts above 500 million USD. GRACE PERIOD: We can grant grace period of between 6 months to 3 years depending on the nature of the project. LOAN REPAYMENT DURATION: The loan repayment duration is between 6 months minimum to 30 years maximum. WHAT ABOUT PPP's AND JOINT VENTURES (JV): It is important to enlighten you that WE NO LONGER DO JOINT VENTURES OR PPP. We give direct loan as debt finance to customers that meet our requirements. I am glad to know that you are interested to be our Agent or Company Representative. I want you to know that our company has the financial muscle to finance any kind of project locally and internationally so feel free to bring as many clients as possible. Your payment will be on commission basis, which is between 1% and 2% commission per successful transaction. For your information, 1% commission is for loan transactions, while you get 2% commission for bank instrument transactions such as bank guarantees, SBLC etc. Since you are interested in becoming our broker/company representative, it is important I send you our detailed terms and procedure for Lease BG or SBLC. Description of Instruments: 1. Instrument: Fully Cash Backed Bank Guarantee {BG} / StandBy Letter of Credit {SBLC} (ICC 458/758 format) 2. Total Face Value: Eur/USD 1Million (Min) to Eur/USD 50 Billion (Max) 3. Issuing Bank: HSBC London/Hong Kong, Barclays Bank London, Citibank New York, Deutsch Bank Germany or any AAA Rated Bank. 4. Age: One Year and One Day (with rolls and extensions where applicable) 5. Leasing Price: 4% of Face Value plus 2% brokers commission (Applicable only if there are brokers in the transaction) 6. Delivery: SWIFT MT-760 7. Payment: MT103 Wire Transfer 8. Hard Copy: Bonded Courier within 7 banking days. 9. Bank Transmission Fee: DEPENDS ON THE FACE VALUE OF THE INSTRUMENT. BANK TRANSMISSION FEES FOR Both Swifts MT799 & MT760 (PRE ADVICE FIRST): 1M - 49M/USD USD 75,000.00 50M - 99M/USD USD 100,000.00 100M - 199M/USD USD 150,000.00 200M - 499M/USD USD 250,000.00 500M - 999M/USD USD 450,000.00 1B - 4B/USD USD 1,000,000.00 4B - 10BUSD USD 1,000,000.00 PROCEDURE: 1. Both parties (Lessor and Lessee) execute, sign and initiate the Deed of Agreement, which thereby automatically becomes a full commercial recourse contract. 2. Within 1 day after Both parties sign the Agreement, Lessor will issue a Notarized signed and sealed Corporate Refund Recourse Undertaking to the Lessee guarantying to refund Lessee all the cost incurred by lessee for the bank transmission charges (For swift MT760 BG/SBLC or Pre-advice MT799 or both as the case may be) after due execution of the contract. 3. Within 3 working days after Lessee receives Lessor's signed and sealed Corporate Refund Recourse Undertaking, Lessee will make payment by wire transfer into the Lessor's bank account for the bank transmission charges for the BG/SBLC MT760 swift transmission or Pre-advice MT799 swift transmission or both. 4. Within Three (3) banking days after confirmation of receipt of payment of the bank transmission charges for the BG/SBLC MT760 swift in Lessor's bank account, the Lessor will deliver the BG/SBLC via bank confirmation of swift BG/SBLC MT760 to the Lessee's banker including the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days. 5. Lessee pays Lessor the leasing fee and the brokers their commission fees not later than 21 banking days after the BG/SBLC hard copy is received and confirmed at lessee's bank. Should Lessee default to pay the leasing fees to the Lessor and the brokers commission fees as agreed after 21 banking days of confirmation of BG/SBLC MT760 in lessee's bank account, Lessor will instruct the issuing bank to put a claim on the BG/SBLC thereby forcing the Lessee's bankers to return the BG/SBLC MT760 to the issuing Bank. 6. Any unauthorized calls or communication to bank (s) by any party or their representatives in this transaction is highly prohibited and can result to contract termination. 7. The bank transmission fee depends on the face value of the BG. For example, the bank transmission fee for any BG or SBLC below 50 Million USD is the sum of $75,000. BUT PLEASE WAIT: So many customers say oh no your bank transmission fee is very high, another provider in another country told me to pay only $20,000. After few weeks of following the cheap lies of these fake providers, these same customers comes back to us crying that they stole their money and didn't deliver the BG. Sometimes I dont blame the scammers, i blame the gullible and greedy people that like cheap lies. Let me give you another example. I trade on gold and precious metals as another line of my business. Presently gold is about $30,000 in the world market but many gold buyers are greedy, they want cheap gold for under $20,000 per kilo this is why they get scammed easily by fake gold sellers from Africa. These fake sellers will bring down the cost of gold to attract gullible and greedy buyers. All I am trying to say is this. It is better to follow a genuine company and pay the real fee once and for all. Than wasting time and money on cheap lies that will give you only pains and sadness. A word is enough for the wise. 8. The transaction can be completed/concluded within 7 days. It all depends on how fast the customer wants to move. If you need any further advise or assistance, do not hesitate to contact me immediately. Bank Guarantee Warning Signs…. BEWARE! Homeless people buying, owning, leasing, renting or monetizing Bank Guarantees is never going to happen! Despite this every day we get contacted by so many people who are under the false illusion that they can own or lease a BG/SBLC free of charge without spending any money. They want the Funder or bank instrument provider to pay the upfront expenses so they can do a deal for FREE, taking no risk, investing none of their own money and having no liability. Those types of free deals do not exist in the real world, if they did there wont be any poor man in the world today. IMPORTANT INFORMATION PLEASE READ BEFORE CONTACTING US: These Financial Products Are Only Available For Clients That Are Able To Pay The Fees For The Services That They Require. Neither We Nor The Prime Banks That We Work With Are Willing To Work With Any Clients Coming To The Table With Empty Pockets. There Is No Free Money Anywhere In The World. We Will Not Engage Any Client That Is Unwilling Or Unable To Work Our Terms And Procedures. There Is Never A Deferred Payment Option. We look forward to hearing from you soon. Thanks & Regards DR. SOK CHANNY. សូមអរគុណ & ទាក់ទង Managing Director SOK CHANNY FINANCIAL SERVICE LTD. | Financial Advisory | Bank Guarantees | Standby Letter of Credit | Letters of Credit |Loans| Project Funding | Monetization | Commodity Trading | SOK CHANNY FINANCIAL SERVICE LTD. (SCFSL) date of incorporation is 2005-07-05 and is legally registered in CAMBODIA as a Financial Services Provider with Company Registration Number 8050411: Sok Channy Financial Services Ltd (SCFS) is a wholly owned subsidiary of SCF. Sok Channy Financial Services Ltd (SCFS) is a company registered in Cambodia under registered number: 8050411. ការអានលើសពីនេះមានន័យថាអ្នកយល់ព្រមទទួលយកបញ្ជាក់និងទទួលយកថានេះជាលេខកូដទំនាក់ទំនងឯកជនដែលមិនមានការស្នើរសុំសិទ្ធិជាម្ចាស់កម្មសិទ្ធិព័ត៌មានសម្ងាត់ហើយអ្នកទទួលនិងអ្នកយល់ព្រមទទួលយកព័ត៌មាននេះជាឯកជន។ អ៊ីមែលនៃព័ត៌មានដែលមាននៅក្នុងកំណត់ចំណាំនេះគឺសម្រាប់ប្រើប្រាស់ជាសម្ងាត់នូវឈ្មោះអ្នកទទួល។ ប្រសិនបើការបញ្ជាក់មិនអាចទទួលយកបានទេប្រទេសអ្នកទទួលត្រូវតែជូនដំណឹងដល់អ្នកផ្ញើនិងបំផ្លាញមាតិកាទាំងមូលនៃសម្ភារៈមិនថាជាទម្រង់អេឡិចត្រូនិកឬរឹងទេ។ Reading beyond this means that you agree to accept, confirm, and accept that this is a private, unsolicited communication code of privileges, proprietary and confidential information, and the recipient and recipient consent Keep this information private. The e-mail of the information contained in this note is for confidential use of the recipient's name. If the confirmation is not acceptable, the recipient country must notify the sender and destroy the entire contents of the material, whether in electronic or hard copy form.

Our bank instruments are issued by prime banks such as HSBC London or Hong Kong, Barclays Bank London, Citibank New York or London, Standard Chartered bank Hong Kong or London, Deutsch Bank Germany or any top AAA rated prime bank of choice.

Sok Channy Financial Services Ltd. #455, Monivong Blvd, Phnom Penh Tower, Phnom Penh, Cambodia. Email: sokchannyfinancialsvc@gmail.com Telephone: +855965904672 Skype: wwww.sokchannyfinancial Sok Channy Financial Services Ltd. #455 Monivong Blvd, Phnom Pen Tower,Phnom Penh,   Cambodia. Email: sokchannyfinancialsvc@gmail.com Website: http://sokchannyfinancial.com/ Telephone: +855963259237 Skype:www.sokchannyfinancial Our bank instruments are issued by prime banks such as HSBC London or Hong Kong, Barclays Bank London, Citibank New York or London, Standard Chartered bank Hong Kong or London, Deutsch Bank Germany or any top AAA rated prime bank of choice. LOANS: We provide both secured loans and unsecured loans and Our terms and Conditions are reasonable. sok channy financial offers the lowest, guaranteed interest rates in the industry. We provide funding for all viable projects worldwide. The countries we currently do not provide funding to are Yemen, Afghanistan, Zimbabwe, North Korea and Sri Lanka. BANK FINANCIAL INSTRUMENTS: Our bank instruments can be engaged in Public and private placements, PPP, Trading, leasing, Discounting, Aviation, Agricultural projects, Oil/Petroleum transactions, Telecommunication projects, All types of construction projects, Roads, Bridges, Hospitals, Hotels, Restaurants, Condo, Real Estate Transactions etc. sok channy financial bank guarantee provider sok channy financial genium sblc provider sok channy financial dlc provider sok channy financial top world lc provider sok channy financial best loan provider sok channy financial original loan provider sok channy financial international loan provider Others Talk, but sok channy financial Limited Delivers. If you are tired of brokers and scammers cheating you and telling you stories and no one ever delivering what they promised,  its time you became a customer of channy financial Ltd because we succeed where others have failed. NOTICE: Brokers are 100% welcomed and protected. Our brokers are paid handsome commission for every successful transaction. If you want to be our broker or company representative kindly send us email for more information.

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Business Loans, Secured Loans, Unsecured Loans, International Project Financing, Bank Guarantees, SBLC, DLC, Letters of Credit lease bg sblc providers, genuine bank guarantee providers, direct loan lenders, Genuine loan company, sme loan firm, loan lenders no credit check, genuine international money lenders, direct loan lenders for bad credit, unsecured loan lenders,Lease BG/SBLC/DLC, Leasing Bank Guarantee Instruments, leasing bank guarantees, Loans and Project Financing, Project Funding, unsecured loans and tagged Bank Guarantee financing, bank guarantee lease, Bank Guarantee Providers, Bank Guarantees, Business Loans, DLC, International Project Financing, Letters Of Credit, SBLC), secured loans, unsecured loans. #Non-Recourse LoansSok Channy Financial Services Ltd are experts in the Monetization of Bank Guarantees (BG) and Standby Letter of Credit (SBLC). Since 2005, we have built long term, trusted and reliable direct relationships with proven providers and monetizers who offer a complete range of Non-Recourse Loan programs where our bank guarantee and standby letter of credit can be monetized for Cash Placed into Trade Programs PPP (Private Placement Programs) or a Hybrid for immediate cash and funds in a Trade Program. BG and SBLC that can be Monetized include bank financial instruments from Top rated AA Bank Instruments with high monetery values. We Provide Non-Recourse Loans from top rated AA Bank against Bank instruments as a security to the loan, we are also running a program on Non-Recourse loan where we merge both BG provider and Lender together in favour of the Borrowers who do not have BG or collateral for the loan, this program is specifically to provide BG (Collateral) to those clients that do not have the facility to provide BG as collateral to the loan, whereby the BG will be leased on behalf of the borrower. The most interesting part of Sok Channy Financial Services Ltd transactional procedure is that you will be giving the privilege to pay for the leasing and monetization fees of the BG after you have received and confirm the loan amount in your bank account, by this way our company secures both the BG (Collateral) and Loan amount for you. #Bank InstrumentSok Channy Financial Services Ltd have direct and efficient international providers of Bank Guarantee (BG) and Standby Letters of Credit (SBLC) from AA top rated banks. If you are a potential Investor or principal looking to raise capital, we will be happy to answer any questions that you have about this opportunity and to provide you with details regarding these services. #Renewable Leased Bank InstrumentsOur BG/SBLC financing can help you get your project funded, by providing you with yearly renewable leased bank instruments. We work directly with the providers of these bank instruments. Leased Instruments can be obtained at minimal costs from our lessor compared to other banking finance options. This offer is open to both individuals and corporate organizations. #International Project FundingIf you need Corporate loans for your International project funding or if you have a client that requires funding for his project or business, We are also are lenders that specialize in funding against financial instruments, such as BG, SBLC, POF or MTN, we fund 100% of the face value of the financial instrument. We have internationally tested, trusted and reliable providers that are ready, willing and able of delievring Fresh Cut BG, SBLC and MTN which are specifically for lease from top rated AA Banks, our bank instrument can be engaged in PPP Trading, Discounting, signature projects such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects. #Corporate CommitmentDue to the large amount of brokers in the business it makes it tough to ever find a real leased asset source. We work patiently and constructively with management teams and with a deep respect for operational excellence. We hold ourselves and all of our portfolio companies and management teams to the highest ethical standards and business practices. Sok Channy Financial Services Ltd believes that strong corporate governance is the cornerstone of our business. email: sokchannyfinancialsvc@gmail.com website: http://sokchannyfinancial.com/ Telepon: +855963259237 Skype: www.sokchannyfinancial #Proved fundsSok Channy Financial Services Ltd provides Proof of Fund / Verification Deposit for short or long term usage. The funds are used to provide Proof of Funds account with fixed return on fixed investment. We ensure that our clients do not need to give up any ownership positions in their projects or trades. However, joint ventures are considered on a case-by-case basis. Chain Engagement #No BrokerIn doing business internationally, we have found that most procurement transactions or requests are never closed because there are too many brokers involved or there are agents that protect the identity of their buyers. We eliminate the confusion is because in our business, we rely on a direct relationship with our suppliers and manufacturers us and if you are looking for a business loan, commercial real estate loans, or want to raise equity for a commercial project, you will most likely work with a broker of commercial loans for increase capital. It discusses the confusion known as the broker chain. If a broker chain is set up to find the source of project funding, the process is likely to be hampered by weak links in the chain. We are committed to developing long-term relationships with borrowers, brokers, and investors and offer a variety of products to meet your financing needs, Questions of finance brokers and intermediaries are also accepted. #Loan# PersonalLoansFinancing#BusinessLoans#CreditGuaranteed#UnsecuredInternationalProject#PurchasesofBankInstrumentsWarranty #BankandStandbyLetterofCredit#LeaseBankInstruments#BG#SBLC#DLC#Letterofcredit#LettersofCredit(DLC, L / C#UsingLC#InvestmentandWealthManagement#AsuransiJasaUnderwriter#PPPandTradingPlatform#ProofofFunds(POF)#FinancecompanyFund #Blocked#EscrowService#PrivateEquity# BG / SBLC / DLC / L / C.#MTN#MT99#MT-799FundProof(POF)(BlockedFund#MT760#MT799 #Proof of FundsSok Channy Financial Services Ltd provides Proof of Funds / Verification of Deposits for short or long-term uses. The funds are utilized to provide Proof of Funds accounts at a predetermined fixed return-on-investment. We assure that our clients will not have any ownership positions in their projects or trades. However, joint ventures are considered on a case by case basis. #No Broker Chain involvementIn doing business internationally we have found that the majority of procurement request or offer section never close Because there are either too many brokers Involved or there is an agent protecting the identity of Reviews their buyer. We Eliminate this confusion Because in our business we Rely on our direct relationships with our suppliers and manufacturers and if you are looking for a business loan, commercial real estate loan, or looking to raise equity for a commercial project, you are Likely going to work with a commercial loan broker to raise the capital. This addresses the quandary known as the broker chain. If a broker chain is formed to find a source for funding a project, the process is likely to be impeded by weak links in the chain. We are committed to fostering long term relationships with our Borrowers, brokers, and investors and offer a range of products to meet your financing needs, Inquiries from financial brokers and intermediaries are Also welcome. We also work closely with the management throughout the transaction by showing them real commitment while assisting with many key corporate initiatives including acquisitions and restructuring to successfully increase profitability. #Letter of CreditA letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It is important to note that a letter of credit is not the same as a bank guarantee, although with both instruments the issuing bank accepts a customer's liability if the customer defaults. With a guarantee, the seller's claim goes first to the buyer, and if the buyer defaults, then the claim goes to the bank. With letters of credit, the seller's claim goes first to the bank, not the buyer. Although the seller will probably get paid in both cases, letters of credit offer more assurance to sellers than guarantees generally do. Most letters of credit are governed by rules promulgated by the International Chamber of Commerce known as Uniform Customs and Practice for Documentary Credits. The current version, UCP600, became effective on July 1, 2007.

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Documentary Letter Of Credit is one of the most important means of financing in the international trade, as the letter of credit is a tool that removes most of the risks as from the buyer (importer) and from the seller (exporter).Documentary Letter Of Credit is very flexible and convenient tool of calculations, which have the widest recognition and acceptance in the world because of the following advantages:For the seller, the letter of credit is convenient because it removes the risk of insolvency of the buyer, because the letter of credit is the unconditional obligation of the bank to pay, regardless of the presence or absence of the bank of the applicant credit. Thus, the letter of credit provides a higher degree of protection of the seller’s interests with payment upon delivery or by collection.For the seller of credit is convenient because it removes the risk of insolvency of the buyer, because the letter of credit – the unconditional obligation of the bank to pay, regardless of the presence or absence of the bank of the applicant credit. Thus, the letter of credit provides a higher degree of protection than the interests of the seller with payment upon delivery or by collection.For the customer the letter of credit is convenient because it provides greater protection of the buyer’s interests compared to the down payment, and eliminates the risk of unscrupulous sellers, because the letter of credit may be required, among other documents, the documents, issued by independent third parties (Chamber of Commerce, the insurance company, the independent inspector).Availability of “Uniform Rules and Practice for Documentary Letter of Credit”, which are internationally recognized, clearly defining and delimiting the obligations of the parties of the letter of credit, allows advancing the interests of the applicant or beneficiary. Thus, the letter of credit is the bank’s obligation as an independent arbitrator who shall be subject to payment of the letter of credit, regardless of the possible litigation between the parties to the contract.The principle of autonomy and independence of the letter of credit from the contract is fundamental.What should be important during choosing a letter of credit:It is important to define clearly the conditions of the letter of credit: type of the letter of credit, payment conditions of the letter of credit, a list and description of the documents submitted by the payee and the requirements for such documents, the closing date of the letter of credit and the period of submission of documents.There are the following forms of letter of credit:Revocable Letters of Credit, which can be changed or canceled by the issuing bank without prior notice to the recipient of funds. Revoke of letter of credit does not create any obligation of the issuing bank to the payee (Article 1094 Civil Code). Nominated bank is obligated to make a payment or other operations on a revocable letter of credit, if at the time of their commission they have not received notice of the change of conditions or canceling credit. A letter of credit is revocable if its text does not explicitly state otherwise.Irrevocable letter of credit is a firm obligation of the issuing bank to pay money in order and the terms defined by the conditions of the letter of credit, if the documents provided for by it, submitted to the bank specified in the credit, or the issuing bank, and observe the terms and conditions of the letter of credit.Irrevocable letter of credit guarantees that the exporter will make payment to the performance of its obligations, even if an importer wants to abandon the deal. Therefore, exporter, performing a special order, for which most likely will not be another buyer, chooses exactly this kind of letter of credit.Irrevocable unconfirmed letter of credit. When making an unconfirmed letter of credit issuing bank, providing a letter of credit, is only party that is responsible for the disbursement to seller. Nominated bank has to pay only after receiving the money from the issuing bank. Nominated bank simply acts on behalf of the bank providing credit, so it does not take any risk.Irrevocable confirmed letter of credit – the obligation of the issuing bank is confirmed by another bank. Confirmation is an additional guarantee of payment from another bank (Bank of the exporter or prime bank).Bank, confirming letter of credit is committed to pay for documents according to the conditions of the letter of credit if the issuing bank fails to make the payment.According to the method of payment letters of credit can be divided into the following types of letters of credit:1.Transferable Letter of Credit (Transferable LC) is a letter of credit, the beneficiary of which is entitled to instruct the advising bank to transfer the letter in full or in part to another person with the preservation of the conditions of the letter of credit. Transferable letter of credit may be transferred only once (if in the Credit otherwise is stated). Prohibition on transfer of letter of credit is not a prohibition on assignment of revenue on it. Letter of credit can be transferred only if it is clearly defined by the issuing bank as a transferable. The term “divisible”, “fractional”, “assignable”, “passed” and others do not give the right to consider the letter of credit as transferable. This type of letter of credit is applied when in the transaction between the seller and buyer the intermediary participates who has a letter of credit opened in his favor and transferred into its own provider. The letter of credit can be transferred only under the conditions specified in the original letter of credit, with the exception of the amount of the credit, the unit price, which can be reduced, as well as the expiry date, the last date for submission of documents after the date of shipment, shipment period, which may be reduced. During transferable letter of credit the documents should be requested so that they could be used for the initial credit. The use of this type of credit requires caution and a good knowledge of technology.Red clause Letter of credit. The essence of red clause letter of credit is that letter of credit requires the terms and conditions of a special clause, according to which the issuing bank authorizes the nominated bank to make an advance payment of a specified amount to the beneficiary before submitting all the documents under the Credit (prior to shipment of the goods or services). Such clause is included in the letter of credit at the request of applicant. Down payment on red clause letter of credit made by the executing bank under a written obligation of the beneficiary to submit documents in accordance with the terms of the letter of credit. After the submission of all documents executed in full. A letter of credit is named in such way because special clause was done with a red stripe.3.The letter of credit with Payment at Sight. Beneficiary receives payment upon presentation and verification of documents corresponding to all the conditions of the letter of credit. It is provided a reasonable time for a document check before paying to the issuing bank, confirming bank or an authorized bank.4.The letter of credit with Deferred payment. Letter of credit with Deferred payment is based on an irrevocable commitment of the issuing bank and / or confirming bank to make payment against presentation of the relevant documents not at the time of presentation of the documents and in the corresponding period of payment, determined by the conditions of the letter of credit. Letters of credit (with Deferred payment and payment by acceptance) may be a more attractive financial instruments to customers prior to the date of payment the buyer can sell the goods and pay the letter of credit, generated profit.Revolving Letter of Credit (Revolving LC) put up on a certain amount, after which it will be used for some time, again exposed for the payment of claims of the beneficiary as many times as is reached set the maximum aggregate limit.The advantage for the importer is that it can order the product in quantities greater than it needs at the moment, and thus to secure a better purchase price. In this case, the delivery of goods will be divided into certain parties and must be performed at specified intervals. For exporter to ship on a schedule convenient for the importer, usually under the revolving credit indicating the dates of the respective amounts which represent the proportion of the aggregate limit.Such  statement about the date of the equity amounts forces an exporter to ship goods in time in accordance with the agreed schedule, otherwise unused equity amounts simply void, unless otherwise isn’t stipulated in the letter of credit, that is for a further letter of credit they will be impossible to use. In this case we are talking about the “non-cumulative Revolving Letter of Credit.”If the amounts that were not used in fixed terms for them, however, are allowed to use in the future, in which case we are dealing with a “cumulative Revolving Letter of Credit.”Revolving Letters of Credit are useful only for transactions in which the same type of product will be delivered at regular intervals to the same counterpart.6.Stand-by Letter of Credit (Stand-by LC) was developed by the American banking system and performs the same functions as a bank guarantee. Using a Stand-by Letter of Credit is regulated by the ISP98, and UCP 600.Stand-by Letter of Credit is a bank’s obligation to make payment in the event of default on the part of the Applicant, and is a bank guarantee. Typically, this letter of credit is opened in cases where the contract provides for payment for goods by bank transfer or otherwise, not giving an absolute guarantee of payment, and the exporter wants to protect himself, but the bank guarantee is forbidden, then in the contract the parties stipulate that as security the letter of credit will be Stand-by by the importer. Payment under this letter of credit will be made in the event of non-payment by bank transfer or otherwise, in unintended ways, on presentation of documents by the beneficiary and the special statement indicating that the counterpart (applicant for the credit) has not fulfilled its obligations in respect of payment.The use of the term “stand-by letter of credit” is explicated in such way that the law of some states in the U.S. prohibits banks to provide guarantees, and the International Chamber of Commerce Uniform Rules for Documentary Credits under the influence of U.S. banks recognizes the application of these rules for stand-by letters of credit (Article 1). From this position, their use is preferable to a bank guarantee, which are subject to national legislation.In recent years, access to the banks to provide credit guarantee becomes frequent, which would support the borrower’s obligation to pay to a third party or a promise to fulfill certain contractual obligations. This can be done with the help of  letter of credit.Beneficiary under a stand-by letter of credit is drawn firstly to the applicants for payment and then asks the bank to make a payment. For commercial letter of credit situation is reversed, “the beneficiary receives payment from the issuing bank, without resorting to the buyer for payment.”Thus, as well as a guarantee, stand-by letter of credit is irrevocable obligation of the bank to pay a specified amount of stand-by letters of credit in the first written demand of the beneficiary in the event of default by a party under the Contract, subject to all conditions of the credit.7.Back-to-back letter of credit. The letter of credit is opened by the issuing bank at the request of the client-applicant in the event of another open letter of credit in favor of the client, in which he is a beneficiary. In contrast to the transferable letter of credit,  basic and back-to-back letter of credit are two legally independent from each other letters of credit, even though both are designed for the same commodity transactions.Back-to-back letter of credit is effective in cases where the seller does not want the proxy provider to know the end customer, and vice versa. In this case, the terms of a letter of credit opened in the name of the broker, may be moved to credit, which will open in the name of an intermediary third party transactions, both credit will be run independently of each other, and the terms of a letter of credit may differ if it is necessary.This type of credit is usually used by middlemen.In the CIS countries to open such credit, the banks generally require collateral or broker deposits to lower the risks.Payment mechanismImporter (buyer) has a guarantee that the bank will not pay for his account as long as he doesn’t receive documents in accordance with the terms of the letter of credit and is satisfied that received documents by the external signs meet the requirements of the importer.Banks will deny payment of documents by the importer, if the documents on the goods do not meet the letter of credit, thereby protecting the interests of the importer.Customer can be sure of receiving payment as soon as he provides the documents to the bank according with the letter of credit.Customer receives against the shipping documents, specified in the letter of credit, prompt payment (if the letter of credit provides for payment terms – on demand).Required documents usually include shipping documents such as bills of lading (receipt of ship-master) goods and transport waybill, duplicate w / a bill showing that the goods have been shipped in accordance with the needs and specification of the buyer.Letter of credit in most cases is as follows:Exporter and importer agree to the release of LC (Letter of credit).Importer (the buyer) with the consent of the exporter (seller) asks his bank to issue a letter of credit. The importer’s bank (the issuing bank) in such case assumes an obligation to pay a fixed amount to the exporter with the condition that the exporter will provide the documents that match the letter of credit for a specified period of time.Bank issuing informs the bank of the exporter of the credit.Bank of the exporter (advising bank informs the exporter that, the letter of credit is issued on his advantage).Exporter ships the goods, prepares the necessary documents and send them to the bank for providing in the designated bank.Designated bank verifies the documents and if the documents are in compliance with the terms and conditions of letter of credit, this bank will pay the amount of the documents, but not exceeding the total amount of the letter of credit.Designated bank sends the documents to the importer’s bank for onward transmission to the importer, who can use them to get the goods.General advantages of the letter of credit1.Letter of credit is very flexible computational tool that can be used for payment transactions on a variety deals of clients.2.Letter of credit is a tool, the rules of using of which are defined in the authoritative international organization, are common and are recognized all around the world. This is beneficial to both customers and banks, as each party of the transaction has a clear understanding of rights, responsibilities, and standard requirements to all participants in the operation.3.Letter of credit is useful as a tool for short-term financing.Advantages of the letter of credit for importers1.Letter of credit may open by own expense of the client, by funds provided by the bank on credit, as well as by providing support by customer to fulfill its obligations (mortgage, deposit).2.Payment is performed after shipment of goods and delivery of documents.3.Importer determines a list of the documents against which will be issued payment.4.Limit the period of providing of the documents and shipment of goods.Advantages of the letter of credit for exporters1.To the obligation of the buyer to pay, it is added an obligation of the issuing bank, this liability does not depend on the relationship between the seller and the buyer.2.If the letter of credit is confirmed, so there is a guarantee of payment from the second bank.3.Performance of the letter of credit is a guarantee of payment.The similarities between the letters of credit and guarantees1.Letter of credit and guarantee are due to the existence and the need to secure the obligations of partners in a transaction.2.Letter of credit and guarantee are the bank’s obligation to make payment to the beneficiary against certain documents;3.Letter of credit and guarantee are paid during the provision to the bank well-defined and clearly understood terms of those instruments of documents.4.Commercial banks offer guarantees and letters of credit on the base of written confirmation of the presence of obligations in the applicant that are provided by such guarantees or letters of credit (the contract, etc.).The differences between the letters of credit and guaranteesLetter of credit is opened with the intention of using it, that is, payment by letter of credit is a phenomenon that occurs during the normal course of events (method of payment). Guarantee is used as a way to ensure obligations and is used if in the process of the implementation of one of the parties of the transaction is not able to meet its own obligations.Letter of credit is used as a method of payment in one form or another. The guarantee can cover almost any kind of obligations (the advance payment guarantee, performance of contractual obligations, tender obligations, repayment, payment of customs duty, payment of a fine or compensation fixed by the court, the observance of the guarantee period of equipment, guarantee of the payment of court collateral, guarantee of payment of the transfer a football player and many others.) Area of application of guarantee, thus much wider than in credit.Letter of credit is a transferable tool, as it allows to optimize the calculations between the partners. Guarantee in rare cases can be transferable as all that is required to receive funding under the guarantee is the requirement of payment, which makes it a ground for abuse of this tool.NOTICE TO INTENDING CUSTOMERS: These posts are for educational purposes and I make them mostly to educate our highly esteemed customers. If you have interest in these posts or interested in doing business with us please send us an email introducing yourself and indicating in which area you think we can work together. We look forward to receiving your email soon. NOTICE TO BROKERS/AGENTS/COMPANY REPS: Brokers are the life blood of our business and as a result we respect them, value them and appreciate them. So new brokers are welcomed, appreciated and compensated with good commission.Skype: www.sokchannyfinancialWebsite: www.sokchannyfinancial.comEmail: sokchannyfinancialsvc@gmail.com