MT-760 BG

MT-760 BANK GUARANTEE  / STANDBY LETTER OF CREDIT ISSUED BY AAA RATED BANK.      ( NO DOWN PAYMENT REQUIRED )

A Standby Letter of Credit (SBLC) and Bank Guarantee (BG) is a payment guarantee generally issued by a bank “the issuing bank” on behalf of a client “the applicant” securing payment to a third party “the beneficiary” in the event the buyer fail to fulfill a contractual commitment the issuing bank will release payment to the seller.

When buyers issue Bank Guarantees in favour of seller they demonstrate financial capability to fulfill contractual obligation. BG also provide payment security to the supplier as he/she prepare to deliver the product to unloading port.

Our Bank Guarantee facilitate international transactions, as collateral and credit enhancement. The use of Bank Guarantees provide an advantage to buyers or traders who do not want to make down payment to the seller. BG provide fair trade opportunity to pay for the product on delivery at unloading port.

Bayrock Services Ltd provide Bank Guarantees / SBLC for serious commodity traders.

•        Payment Guarantee For Products

Issue under Buyer's instruction in favor of the Seller. Provides payment obligation for the Buyer under a proposed contract.

•        Performance Bond

Issued under the Seller's instructions in favor of the Buyer as a guarantee of proper fulfillment of contract obligations by the Seller.

•        Tender guarantees

This type of guarantee is generally an obligatory condition to participate in tender.

BG, SBLC and DLC issued through us can only be used as payment guarantee for purchase of crude oil, refined petroleum products, sugar, cement and other commodities.

NOTE: BG/SBLC issued through us cannot be used for project funding, or loan. If you are looking for a bank guarantee to monetize or use as project financing, sorry, this offer is not for you.

Bank instruments:

- Standby Letter of Credit (SBLC)

- Bank Guarantee (BG)

- Proof of Funds (POF)

- Documentary Letter of Credit (DLC)

AMOUNT AND VALIDITY OF INSTRUMENTS:

Face Value: starting at USD 10,000,000 – USD 1 Billion

Validity: 6 Months or 1 Year and 1 day (with option to extend)

Delivery: By SWIFT

Confirmation: Verification by SWIFT

There will be no down payment, but Lessee must proof that he/she has fund to pay all the charges after the Bank Guarantee is successfully transmitted to the seller.

The Bank Guarantees we provide are design to protect buyer’s commercial interests by eliminating the need to prepay for products or services. It will also discard the need to provide collateral to your bank. Our Bank Guarantee will help minimize your risk and support your cash flow.

LEASING PROCEDURE

1. Lessee submits letter of intent (LOI) along with deed of agreement (DOA) with full banking co-ordinates, scanned copy of company registration certificate, scanned copy of passport, Bank statement covering leasing charges and indemnity pay protection agreement.

2. After successful due diligence lessor signs deed of agreement and return a copy to lessee within two (2) banking days. DOA becomes a full recourse commercial contract. Both parties lodge DOA with their respective banks.

3. Lessor’s bank issues MT760 BG/SBLC within two (2) banking days. Lessor provides a swift copy of transmitted BG / SBLC for verification.

4. Lessee confirms transmitted BG/SBLC and pay Lessor the leasing fee and brokers their commission not later than four (4) banking days.

5. Hard copy of the BG/SBLC will be sent via bank bonded courier within Seven (7) banking days.

6. Should Lessee refuse to pay the leasing fees to the Lessor and the brokers commission fees as agreed after (4) banking days of confirmation of BG/SBLC, Lessor will instruct the issuing bank to put a claim on the instrument, thereby forcing Lessee's bankers to release the BG/SBLC to the issuing Bank.

Our BG/SBLC can help your trade funded, by providing you with yearly renewable payment guarantee. We work directly with providers of these instruments.

TRADE FINANCE

How We Finance Trade

Financing global trade has a lot of benefits, not only to the lessor, but to whom a lease is granted. As Trade Finance Agency  we help serious commodity traders provide the right payment guarantees, such as BG / SBLC specifically for lease.

The following is a step by step information for commodity traders who may be interested in the service we provide. Our mission is to combine sector knowledge with technological innovation to help clients grow, trade and transact globally and manage their risk.

How We Finance Trade

The actual payment method commonly used is a documentary letter of credit. But some suppliers usually raise concern for failure or neglect to perform as agreed or set by common consent, many sellers may request that the buyer issue a MT-760 BG / SBLC as payment guarantee before delivery of the product commence.

Due to definite course of action adopted for the sake of expediency some bank may not issue MT-760 BG in favor of their customers. Some banks lack desire to issue BG / SBLC, as that makes them legally responsible for the full cost of the trade, which can sometimes equal in value to millions of dollars. Some bank will not issue a BG / SBLC without some form of collateral to protect their interests when business goes wrong. If your bank decline to approve your application to issue a BG /SBLC to a supplier because of insufficient funds on deposit we can help you issue a BG / SBLC to a supplier.

It is a precise direction for managing the capital required for international trade to proceed continuously and smoothly. Yet within this method there are a wide range of tools at the financiers’ disposal, all of which determine how cash, credit, investments and other assets can be utilized for trade.

In it’s normal form, a supplier requires a buyer to prepay for goods shipped. The buyer naturally wants to reduce risk by asking the supplier to document that the goods have been shipped. The buyer’s bank assists by providing a letter of credit to the supplier's bank providing for payment upon presentation of certain documents, such as a bill of lading. The supplier's bank may make a loan to the supplier on the basis of the export contract.

Trade Services And Payment

There are a number of ways in which we can help corporate our clients trade cross-border for a fee. The nature of service we offer to buyer from a bank will include the following details;

Letters of credit, BG/SBLC, import bills for collection, import financing, Proof of funds, LC checking and negotiation, pre-shipment export finance, export bills for collections, invoice financing, and all the relevant document preparation for payment of goods.

We represent large corporates to provide this form of trade finance. It saves costs and time and so has been adopted by traders as they become more comfortable with their supplier relationships. BG / SBLC used as payment guarantee for transactions can be described as (buy now, pay later) and are more like regular payments for a continuing flow of goods rather than specific transactions. It is much cheaper for buyers to trade with leased BG/SBLC we provide for them.

In accordance to the procedures used to provide a BG / SBLC to buyers there will be no consultation fees, no transmission fees or upfront payment until the buyer receive a transmitted BG / SBLC via SWIFT to the receiving bank.

ABOUT US

 WELCOME

Bayrock Services Ltd is the foremost emerging commodity trade finance agency. There are a number of ways of looking at Bayrock Services Ltd. It is an agency for trade financing. We associated with several financial institutions in Europe, Asia and United States Of America to offer services that consist mainly of Trade Finance. and SWIFT financial messaging.

Bayrock Services Ltd solutions involve the use of our letter of credit and guarantee facilities with numerous institutions. Our clients are importers and trading companies looking to expand their business by leveraging their existing cash flow to its maximum.

Our BG, SBLC and DLC are sent out through Swift, with an international network of more than 900 serious financial organizations, securities, institutions and corporate customers in 22 countries.

We provide trade finance consultancy to importers, exporters and trading companies, especially those who are looking to expand their business. We provide advice on structured trade finance, including initial deal structure, as well as introduction to suitable financiers and investors.

•  Often wonder who to turn to when looking for reliable trade financier and partners for trading with    China, Russia, Ukraine, India, Venezuela?

•  Uncertain if political risk insurance might fit better than non-recourse discounting or simple letters       of credit?

Bayrock Services Ltd is your first and most reliable trade finance agency to help you cross those business barriers. We help traders acquire the right payment instruments to help them trade in peace of mind.

                                                                Our Mission

Underserved by traditional financial institutions, many organizations are struggling to gain access to the products and services they need in order to stay risk free and profitable in an ever expanding global market-place. Why Put simply, small and medium size organizations are not as profitable to Banks as larger corporates, so personal service, tailored products and competitive rates are beyond their reach. Banks often sideline these smaller organizations onto online platforms to increase their own efficiencies and profits.

Whatever size your organization is, gaining access to the right financial products, is paramount to your success. Which is why we want to become the financial services provider of choice for small and medium size companies operating in the global marketplace. Our goal is to extend our multiple product to clients around the world, offering knowledge, security, consultation and care, as we maximize opportunities and mitigate risk for all our customers.

Our mission is to combine sector knowledge with technological innovation to help clients grow, trade and transact globally and manage their risk. We empower small and medium size companies, enabling them to realize their global ambitions successfully and securely.

MT-799 POF

                                     MT-799 POF ( NO UPFRONT PAYMENT REQUIRED )

MT799 is a simple text message, sent bank to bank. This is used for a bank to bank proof of funds, only. The MT-799 is not a form of payment and it is not a bank undertaking or promise to pay. It is simply a bank to bank confirmation of the funds on deposit, nothing more.

Proof of Funds service is not a loan, but is a perfect, inexpensive and fast way to add strength to your current financial profile, show reserves and help facilitate your transactions.

MT-799 POF Transmission And Formats.

Different formats may include phone/fax verification or bank to bank Swift confirmation.

We can arrange Proof Of Funds to facilitate various trading requirements, providing you the capability to meet your supplier’s needs. The investment process is simple and secure, and can be completed within four (4) banking days with no upfront payment required.

When trading, there are multiple documents and forms requested by both parties. One of the more commonly requested, but lesser understood documents is the MT-799. Many sellers will request that the buyer issue an MT-799 before they provide proof of product, or proceed beyond the initial stages of the sale. For new traders who are not familiar with international banking systems, this can be a rather confusing request. We assist buyers/traders issue MT-799 POF to their suppliers

MT-799

The MT-799 is a free format SWIFT message type in which a banking institution confirms that funds are in place and available to cover a possible trade. This can on occasion, be used as an irrevocable undertaking, depending on the language used in the MT-799, but is not a promise to pay or any form of bank guarantee in its standard format. The function of the MT-799 is simply to assure the seller that the buyer does have the necessary funds to complete the trade.

The MT-799 is usually issued before or after a contract is signed, and before a letter of credit or bank guarantee is issued. After the MT-799 has been received by seller’s bank, it is then responsibility of the seller’s bank to send POP documents (proof of product) to buyer’s bank, at which point the trade continues.

The actual payment method commonly used is a documentary letter of credit, which the seller presents to the issuing or confirming bank along with shipping documents. Once the bank confirms the documents, the seller is then paid. An alternative method is the use of bank guarantee in place of a letter of credit. It is normally at the seller’s discretion which method of payment is more desirable.

Can All Banks Issue MT-799 POF To A Supplier

Due to definite course of action adopted for the sake of expediency some bank may not issue MT-799 POF in favor of their clients. Approach your bank and sign a contract with them to have MT-799 POF transmitted to seller’s bank in your favor. However, some banks lack desire to issue MT-799 POF, as that makes them legally responsible for the full cost of the trade, which can sometimes equal in value to millions. Some bank will not issue an MT-799 POF without some form of collateral to secure their own interests. If your bank decline to accept your application to issue MT-799 POF to a supplier we can help you issue it through a AAA rated bank.

The MT 799 is a swift message used between banks to communicate in written form, and is usually referred to as Pre-advice.  For example, HSBC may send a MT-799 to Citibank stating: We confirm “$$$” amount on deposit and are ready to use this amount via MT 760 in favour of account “505” at your bank.  Please confirm readiness and receipt.” Typically, the MT 799 will be needed directly before the MT 760 is issued, and there will be small fees to be paid after transmission.

Note: The MT-799 POF we provide to clients is not blocked funds type. It cannot be used as collateral, or used to enter a private placement program. It is only a proof of funds which indicate that the buyer has funds on deposit.

What Are The Requirements To Transmit MT-799 POF To A Supplier

You will provide the following information to send MT-799 POF to a supplier.

• Name of the advising bank.

• LC / BG Amount.

• Product shipment date.

• Details of the company legally responsible for confirmation fee after MT-799 is

   issued and confirmed.

• Description of the merchandise.

• Port and country where product will be loaded.

• Port and country where product will be unloaded.

Mateo Henson
Bayrock Services Ltd
Tel. +1-646 3568996
Email: bg4lease@gmail.com / inquiry@mt760bg.com

Skype: bayrock.services

146 Shirley Street. Island: Nassau / Paradise Island
Website: www.mt760bg.com