What is a Bank Guarantee?
A bank guarantee often referred to as BG is a guarantee from a lending institution ensuring the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank covers it.
We can simply say that a bank guarantee is a promise from a bank or other lending institution that if a particular borrower defaults on a payment, the bank will cover the loss. Note that a bank guarantee is not the same as a letter of credit.
Need a Bank Guarantee from HSBC, Barclay's Bank or Credit Suisse?
Just because these top-rated banks do not know you enough, they may be reluctant to issue a guarantee directly to you which is why we continue to be a linking bridge between you and these banks making it possible for you to either lease a bank guarantee to be issued in our name or purchase a fresh cut bank guarantee to be issued in your name.
Even though a leased or purchased bank guarantee is valid for business, leasing a bank guarantee costs 4% of the amount on the bank guarantee generally known as the face value and cannot be monetized, while purchasing costs 30% and can be monetized.
Brokers benefit 2% of the bank guarantee face value on each issuance
How can I get a Bank Guarantee?
Send us your Customer Information Sheet, Preferred Verbiage, Passport copy and Company Registration/Incorporation Certificate for Due Diligence and Verification,
Upon Approval, we send you a Deed of Agreement, (DOA),
Send us the signed contract and make an initial payment to cover the processing fee,
Our bank sends you Pre-Advice RWA MT799,
Our bank sends you a Bank Guarantee MT760,
You either remit the leasing/purchasing cost in ninety days or we monetize the Bank Guarantee (only purchased Bank Guarantees can be monetized).
We only monetize purchased Bank Guarantees at 80% LTV
How can I monetize a Bank Guarantee?
For Bank Guarantees provided in-house,
Fill a Deed of Agreement, (DOA),
Within 10 working days, we monetize your Bank Guarantee,
Within 3 banking days, we pay you 80% of the Bank Guarantee total value.