Thousands of Companies Fleeing to the Safety of Bank Guarantees
What is safe about bank guarantees? They are providing access to loans and lines of credit. Yes! Access to credit facilities that are being denied by banks in times of turmoil. Can you get a line of credit during the Pandemic? No? Is your company suffering as a result? Then read on. Probably one of the most important blogs you have ever read.
How can Bank Guarantees and Standby Letters of Credit give access to credit facilities I hear you cry. Through credit lining that’s how. This facility has been on offer for years. Companies are flocking to the doors of specialists in this field.
Company’s such as IntaCapital Swiss SA, Geneva Switzerland. They have been providing access to credit facilities for nearly a decade. Is your company in urgent need of a loan or line of credit? Then I suggest you contact IntaCapital Swiss today.
How to Obtain a Credit Line
To obtain a credit line first you must sign a Collateral Transfer Agreement. This is a contract between a provider and a company seeking to lease a bank guarantee. A provider is a company that leases bank guarantees for monetisation purposes. The company leasing the Bank Guarantee is the beneficiary.
The provider will instruct their bank to transfer the Bank Guarantee to the account of the beneficiary. Once received the beneficiary may use the Bank Guarantee as collateral to obtain credit facilities.
Please note only a Demand Bank Guarantee can be monetised. It contains the most precise wording. This allows the demand bank guarantee to be monetised. This guarantee is governed by ICC Uniform Rules for Demand Guarantees, (URDG 758).
A Standby Letter of Credit when monetised will contain the exact verbiage of a Demand Bank Guarantee. It will also be governed by ICC Uniform Rules for Demand Guarantees, (URDG 758).
For companies struggling with their finances please contact IntaCapital Swiss. They have been providing access to credit facilities throughout the Pandemic.