Merchant Finance and Guarantee Corporation

People are often curious about performance guarantees.A performance guarantee is a promise made by the contractor to complete the project within the allotted time. To make it easier, it is a document that legally confirms that you, the contractor, will finish the contract you are handling.

In international trade, Letters of credit are one of the significant factors and essential payment methods. It is a secure, famous, and universal way of payment globally. In this international trade, the importer must secure a letter of credit (LC) through a bank. The bank works as a guarantee on behalf of the importer. It ensures the value of goods shipped by the exporter.

If you are in leather export it is quite frustrating to deal with the import-export documentation. Yeah, it’s tiresome. But, with proper guidance and help you can solve the issues. There are two types of payment methods that you can determine - Letters of Credits and Documentary Collections. In leather exports, most businessmen use this payment technique. Let’s follow the article to get a nudge concept about it.

Proof of funds (POF) is the documents that determine a person's ability to collect the funds for a specific transaction. You will find proof of funds in the form of a bank, custody statement, or security. So, it is a more trusted form of categorization than the other. When a novice indulges in the whole process, non-financial institutes help them in this regard.

When the seller (or exporter) needs the purchaser (an importer) for advanced payment for the shipped goods – the importer may demand the document to reduce its risk. If you are new and need help with these sorts of issues, you can always take help from professionals.

Counter standby is a guarantee of payment supplied by the bank on behalf of the client. If you are new in businesses, you can take help from professional non-financial banks. They will guide you with the processes of counter standby. Read this article to get to know about it.

Trade financing gets complicated day by day, and there are chances of causing blunders. Therefore, in export businesses tracking and collecting payments from international customers gets troublesome. However, there are many fastest ways of a transaction, export documentary collections is one of this. It can help in various international trade finance groups with various prompt collections. Get some information on it.

The time drafts are the type of payment that is assured by an issuing bank but is not to be paid in full until a particular amount of time after it is accepted and received. Several international trade transactions make use of drafts as the ways to point...

A Standby Letter of Credit is written obligations issued by a bank on behalf of a buyer to pay a certain amount of money to the seller durin...

Many types of guarantees are there that are being used for several causes. A financial guarantee is one of the types of bank guarantee. It gives surety to the investors that they will get back the …