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.