A SBLC substitutes the credit of the bank for that of the client, for the purpose of facilitating trade. It serves as a secondary payment mechanism. A bank will issue a standby letter of credit on behalf of a client to provide assurances of his ability to perform under the terms of a contract between the beneficiary. The parties involved with the transaction do not expect that the SBLC will ever be drawn upon. It assures the beneficiary of the performance of the customer’s obligation.
A standby letter of credit is often used to guarantee performance or to strengthen the credit worthiness of a client.
A client can often have a SBLC in their hands in 5 business days or less once they submit a brief intake form, a sample of which can be obtained from ProofOfFundsNow@gmail.com
The biggest drawback to obtaining a SBLC, proof of funds or BG, is that many clients and brokers think they are going to get one without any type of upfront payment upon execution. That will never happen. Some providers, though, will allow the client to make a 40% payment and then setup a payment schedule for the balance. We know of one provider who will do that.
Poster is not a United States Securities Dealer, Broker or US Investment Advisor. This post is not to be considered a solicitation for any purpose in any form or content, nor an offer to sell and/or buy securities. Merely describing the details of an existing private program does not constitute an offer or solicitation of any kind.