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Cash Accounts are generated by our Investors blocking their funds on your behalf. The deposited funds are bank assets and are compartmentalized from larger accounts. In other words, the Cash Account is owned by the Investor, and you are the beneficiary. Such accounts operate under very strict guidelines, as funds can only be accessed by the terms of an agreement approved and executed by the Investor and the cash is limited by the bank as the client is not permitted to withdraw it. A Cash Account is commonly used when funding large-scale investments such as obtaining a loan or large investment projects, as lenders tend to demand evidence that the buyer has such affordability. The lender should approve of the legality of the funds to be used as a transaction before the funds are to be transferred.

With Standby Letters of Credit or SBLC, clients can create assurance that invoices or loans will be paid as promised. A Standby Letter of Credit is an obligation taken on by a bank to make a payment once certain criteria are met. Once these terms are completed and confirmed, the bank will transfer the funds. This ensures the payment will be made as long as the services are performed. The primary use of Standby Letters of Credits is to serve as a reinforcement payment option for buyers. SBLC’s are commonly used in international and domestic trade transactions, and act as powerful tools to establish trust between suppliers and vendors. Our cash backed accounts provide the collateral back up these letters. This gives sellers greater assurance of payment, especially for larger transactions.
A Bank Guarantee and a Standby Letter of Credit are similar in many ways, but they are two different things. SBLC’s ensure that a transaction proceeds as planned, while Bank Guarantees reduce the loss in the transaction. A Bank Guarantee from a lending institution provides that the liabilities of a debtor will be met. Bank Guarantees enable the customer to acquire goods, buy equipment, or draw down loans, and thereby expand business activity. The standard leasing term for a BG is one year but is often as long as 3 to 5 years. Each Bank Guarantee will be worded for the purposes it is intended, it is very important to ensure the proper verbiage is being used with this instrument.
The MT760 is a SWIFT Message used to block funds in favor of someone other than the owner, collateralizing the asset via this message while allowing for loans and liens against it. When an MT760 is issued, the issuing bank puts a hold on the client’s funds, blocking the client from using them. The funds are then at the disposal of the person the MT760 was issued in favor of. Once an MT760 has been issued, it is not negotiable. For this reason, many traders prefer a Standby Letter of Credit, which is negotiable and can be amended in response to unforeseen changes in circumstances; such as a delayed shipping schedule, lower production than anticipated, and other such events.
MT799 is a simple text message, sent bank-to-bank. MT799s are used for a bank to bank proof of funds only. The MT799 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. The SWIFT MT799 option provides the capability allows bank-to-bank SWIFT electronic verification for Proof of Funds in compliance with the SWIFT Category 7 “Treasury Markets & Syndication” message types. Often there is a misconception that a particular circumstance requires a SWIFT MT760 message, when, in fact, the SWIFT MT799 format provides the necessary bank confirmation for the application.
An account with the SWIFT MT999 capability allows bank-to-bank SWIFT electronic verification for Proof of Funds in the account, with no further comment. This SWIFT format is an appropriate message for a simple Proof of Funds communication and it is part of the Common Group of SWIFT formats providing a General Free Format for SWIFT messaging.

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