Featured

First blog post

This is the post excerpt.

Advertisements

This is your very first post. Click the Edit link to modify or delete it, or start a new post. If you like, use this post to tell readers why you started this blog and what you plan to do with it.

post

WHAT IS A STANDBY LETTER OF CREDIT?

It is a guarantee of payment issued by a bank/FI on behalf of a client that is used as payment in case of default by the applicant.

view all

Standby Letters of Credit are issued for use in a wide variety of commercial and financial operations. Standby letters of credit are very much alike documentary letters of credit, their main difference is that unlike DLC’s, they only become operative in case the applicant defaults, then the beneficiary in whose favor the SBLC was issued, can draw on the SBLC and demand payment.

Historically, Standby letters of credit were developed because the US regulator legally limited US bank’s authority to issue guarantees.

SBLC’s are very similar to demand guarantees, which also require that the presentation of stipulated documents be compliant with the terms and conditions of the guarantee. SBLC’s and guarantees are different in terms of protection, they both serve the primary purpose of making sure that sellers get paid, but while a standby letter of credit protects the seller, a bank guarantee protects both sides, since it also protects the buyer in case the supplier never ships the goods or ships them in a damaged condition.

Standby letters of credit are a very flexible tool, making them a suitable product for securing a wide range of payment scenarios.

We are also direct providers of bank instruments such as bank guarantees (BG), standby letters of credit (SBLC), DLC, Letters of credit. Our bank instruments are issued by top banks such as HSBC Hong Kong or London, Barclays Bank London, Citibank New York, Standard Chartered bank or any top prime AAA rated bank of your choice.

For more information please contact us with below contact information…

Telephone: +855963259237
Skype: http://www.sokchannyfinancial
website:www.sokchannyifnancial.com
Company email:chong@sokchannyfinancial.com or sokchannyfinancialsvc@gmail.com

PROOF OF FUNDS

What is a proof of funds?

It is a document that demonstrates that a person/company has the the facility required to participate in a transaction. It is often used at the beginning of negotiations between parties who are unfamiliar with each other, so that each side can demonstrate seriousness to the other side.
How does it work?
By issuing a proof of funds, the bank approves that the entity/person has the quoted funds or facilities available with them. During the finalization of a transaction, the applicant presents the POF to the beneficiary, assuring them that the buyer has the wherewith all to participate the transaction.
It should be noted that proof of facilities are being sometimes used by con artists to carry out financial scams. Thus, when agreeing to be presented with a proof of facility, it is necessary to thoroughly investigate the other party to the transaction and perform sufficient due diligence checks.

Our Interests includes but not limited to the following areas:
Loans & Project Financing (Locally and Internationally)
Corporate Finance
Bank Instruments such as Bank guarantee, BG, SBLC, DLC, Letters of credit.
Private Equity
Investments/Wealth Management
Setting up Companies in Europe or South East Asia.
Insurance
Commodities Trading
Escrow Services
Financial Real Estate & Broking

For more information please contact us with below contact information…

Telephone: +855963259237
Skype: http://www.sokchannyfinancial
website:www.sokchannyifnancial.com
Company email:chong@sokchannyfinancial.com or sokchannyfinancialsvc@gmail.com

TYPES OF GUARANTEES

Sok Channy Financial Services Ltd is a leading Loan & Investment company that is legally registered in Cambodia, South East Asia to provide loan and funding for all kinds of profitable businesses/projects locally and internationally. We fund any viable or profitable business worldwide some of which are Energy projects, Aviation, Real Estate, Bridges, Schools, Hospitals, Hotels, Restaurants, Condo, Business Expansion projects, Agricultural Projects, All types of construction projects, PPP, Oil/Gas, Coal, Urea, Copper, Gold/Diamond, Import & Export, Humanitarian Projects, all commodities.
A Bank Guarantee is a versatile tool which can function as a number of instruments: a bid bond, a performance bond, and advanced payment guarantee, a warranty bond, a letter of indemnity, a payment guarantee, a rental guarantee, or a confirmed payment order.

view all

1. A bid bond is usually issued for bidders on construction or similar tender based projects. A bid bond is a debt secured by a bidder. In effect, it serves to secure the bidder’s investment in the project and to discourage bidding by less serious players. A bank guarantee could be presented as a partial alternative to the financial capital typically required by a project owner.

2. A performance bond, or contract bond is utilized in the real estate industry to make sure a contractor completes a designated project. A performance bond is issued by a bank, insurance company or a financial institution in favor of a beneficiary by order of an applicant, against the applicant’s failure to meet its obligations as per an underlying contract. A performance bond often covers 100% of the contract value and can replace a bid bond when the applicant has been awarded a contract. If effect, applicants use performance bonds to comfort suppliers who are concerned with the prospect that the applicant might become insolvent or otherwise unable to fulfill his contractual obligations. In case of insolvency of the applicant, the beneficiary receives compensation that should ease financial stresses or other damages caused by the contractor.

3. An advance payment guarantee, or advanced payment bond is an agreement where an issuer undertakes responsibility to return an advanced payment to the buyer, should the seller fail to meet his obligations.

4. A warranty bond is a contract between a project/property owner, a contractor, and a surety company. The bond promises that any defects found in the original project will be repaired during the warranty period. Frequently used in the housing and construction sector, a warranty bond guarantees an investor that a contractor will resolve all covenants that relate to materials used and work done before the warranty on the materials expires.

5. A letter of indemnity is an instrument guaranteeing contractual provisions will be met; otherwise financial reparations will be made. A letter of indemnity is often utilized to request replacements for lost shares from a company’s treasury.

6. A payment guarantee provides the supplier with financial security in case the applicant fails to pay for goods or services supplied. Payment guarantees mitigate credit or country risk when the supplier ships the goods on an open account basis, which is to say, before receiving payment. Payment guarantees are typically issued to cover debts in cases of non-payment arising under a transaction or over a period of time. The instrument’s wording is based on the terms outlined in the original debt agreement between the applicant and the beneficiary. The applicant will make a repayment based on these terms. Sometimes a payment guarantee can be backed with collateral, such as property or asset that is pre-approved by the lender.

7. Rental guarantees promise payment to a landlord in case a tenant defaults financially. Since the risk of a tenant defaulting can be extremely harmful to a property owner, rental guarantees are extremely valuable tools which give security to industrial and commercial landlords.

8. A confirmed payment order is an irrevocable obligation to pay. In most cases, the confirmed payment order is conditional on successful completion of a project.

Sok Channy Financial Services Ltd is a leading Loan & Investment company that is legally registered in Cambodia, South East Asia to provide loan and funding for all kinds of profitable businesses/projects locally and internationally. We fund any viable or profitable business worldwide some of which are Energy projects, Aviation, Real Estate, Bridges, Schools, Hospitals, Hotels, Restaurants, Condo, Business Expansion projects, Agricultural Projects, All types of construction projects, PPP, Oil/Gas, Coal, Urea, Copper, Gold/Diamond, Import & Export, Humanitarian Projects, all commodities.

We are also direct providers of bank instruments such as bank guarantees (BG), standby letters of credit (SBLC), DLC, Letters of credit. Our bank instruments are issued by top banks such as HSBC Hong Kong or London, Barclays Bank London, Citibank New York, Standard Chartered bank or any top prime AAA rated bank of your choice.

 

For more information please contact us with below contact information…

Telephone: +855963259237
Skype: http://www.sokchannyfinancial
website:www.sokchannyifnancial.com
Company email:chong@sokchannyfinancial.com or sokchannyfinancialsvc@gmail.com

READY WILLING AND ABLE

What is a ready willing and able?
view all It is a document is issued by banks or financial institutions on behalf of clients, demonstrating intent and capability (both financially and legally) to enter into a financial transaction. RWA’s are often also referred to as bank comfort letters.

How does it work?

We provide ready willing and able (RWA) letters for our clients, usually via MT799 message.

Our Process

1
REQUEST
Contact ITF directly to inquire about SWIFT messaging services.

2
DRAFT
Sok channy financial service ltd,custum builds the SWIFT Message. The client confirms and signs the final version.

3
DUE DILIGENCE
(S.C.F.S) client compiles several requested documents relating to its company. (S.C.F.S) scrutinizes these documents to insure the deal complies with all international regulations.

4
ISSUANCE
(S.C.F.S) will issue a SWIFT message though one of its world-class banking partners. (S.C.F.S)monitors the message carefully to insure that it reaches its final destination.

Our Interests includes but not limited to the following areas:
Loans & Project Financing (Locally and Internationally)
Corporate Finance
Bank Instruments such as Bank guarantee, BG, SBLC, DLC, Letters of credit.
Private Equity
Investments/Wealth Management
Setting up Companies in Europe or South East Asia.
Insurance
Commodities Trading
Escrow Services
Financial Real Estate & Broking

For more information please contact us with below contact information…

Telephone: +855963259237
Skype: http://www.sokchannyfinancial
website:www.sokchannyifnancial.com
Company email:chong@sokchannyfinancial.com or sokchannyfinancialsvc@gmail.com

PROOF OF FUNDS

What is a proof of funds?

It is a document that demonstrates that a person/company has the the facility required to participate in a transaction. It is often used at the beginning of negotiations between parties who are unfamiliar with each other, so that each side can demonstrate seriousness to the other side.
How does it work?
By issuing a proof of funds, the bank approves that the entity/person has the quoted funds or facilities available with them. During the finalization of a transaction, the applicant presents the POF to the beneficiary, assuring them that the buyer has the wherewith all to participate the transaction.
It should be noted that proof of facilities are being sometimes used by con artists to carry out financial scams. Thus, when agreeing to be presented with a proof of facility, it is necessary to thoroughly investigate the other party to the transaction and perform sufficient due diligence checks.

For more information please contact us with below contact information…

Telephone: +855963259237
Skype: http://www.sokchannyfinancial
website:www.sokchannyifnancial.com
Company email:chong@sokchannyfinancial.com or sokchannyfinancialsvc@gmail.com

WHAT IS A DOCUMENTARY LETTER OF CREDIT?

A documentary letter of credit is a guarantee of from the issuer (i.e. issuing bank) to the beneficiary that the issuer will pay the beneficiary money when the beneficiary provides certain documents to the issuer in a certain manner time and place.

view all

A documentary letter of credit is issued by a bank or a financial institution. The letter of credit assures the supplier (beneficiary) that they will receive payment up to the amount stated in the letter of credit, provided that the beneficiary makes a compliant document presentation.

Once the beneficiary makes a compliant presentation, the Issuing institution will make a payment. Even if the buyer (applicant) cannot pay for the beneficiary’s services, the issuer is obliged to honor the presentation.

Documentary letters of credit are mostly used in international transactions, where the buyer and seller have yet to establish a strong relationship and/or operate in different countries. When concluding a deal with a buyer from a different country, the seller is exposed to risks due to the physical distance between the two parties, foreign or unknown legal systems, and lack of knowledge about the buyer. A seller may be hesitant to enter such a risk-sensitive deal without a letter of credit as financial security.

In these cases the credit worthiness of the issuer stands in place of the credit worthiness of the buyer – giving the supplier greater comfort that he will be paid.

For more information please contact us with below contact information…

Telephone: +855963259237
Skype: http://www.sokchannyfinancial
website:www.sokchannyifnancial.com
Company email:chong@sokchannyfinancial.com or sokchannyfinancialsvc@gmail.com

Jaminan Baki Bank kami (BG) dikeluarkan oleh World Top 100 Banks, kami menggunakan Rangkaian SWIFT Bank untuk mempunyai Bank Jaminan Bank Leased Bank (BG) yang diserahkan Bank kepada Bank menggunakan SWIFT MT799 diikuti oleh SWIFT MT760. Kami mengendalikan proses penyerahan dan pengesahan yang boleh dipercayai dan cekap yang merangkumi dua peringkat Pengesahan Bebas pada Dua Rangkaian Transaksi Kewangan Yang Dihormati:

Surat Pengeluaran Kredit Sedia Siaga (SBLC) – Jaminan Beli Bank yang Disewakan (BG)
Instrumen & Perkhidmatan Penerangan:
Pembelian atau Pembelian Jaminan Bank Terjamin (BG)

Jaminan Baki Bank kami (BG) dikeluarkan oleh World Top 100 Banks, kami menggunakan Rangkaian SWIFT Bank untuk mempunyai Bank Jaminan Bank Leased Bank (BG) yang diserahkan Bank kepada Bank menggunakan SWIFT MT799 diikuti oleh SWIFT MT760. Kami mengendalikan proses penyerahan dan pengesahan yang boleh dipercayai dan cekap yang merangkumi dua peringkat Pengesahan Bebas pada Dua Rangkaian Transaksi Kewangan Yang Dihormati:

Bayaran pertama 1 (kira-kira 15% daripada Deposit BG) setelah semua Peserta menandatangani Perjanjian Penghantaran BG
Pembayaran ke-2 yang terhutang (lebih kurang 25% dari Deposit BG) selepas BG adalah pada Euroclear dan Disahkan oleh Pembeli
Pembayaran ke-3 yang terhutang (lebih kurang 60% daripada Deposit BG) selepas Swift MT799 dihantar dan Disahkan oleh Bank Menerima
Keperluan Deposit Jaminan Bank (BG) yang Diskaun:

10M SBLC – € 250,000
20M SBLC – € 280,000
30M SBLC – € 300,000
50M SBLC – € 320,000
70M SBLC – € 350,000
100M SBLC – € 400,000
150M SBLC – € 450,000
200M SBLC – € 500,000
300M SBLC – € 600,000
400M SBLC – € 650,000
500M SBLC – € 800,000

e-mel: chong@sokchannyfinancial.com
Skype: http: //www.sokchannyfinancial
Laman web: http://sokchannyfinancial.com/
Telefon: +855963259237