WnetLink Trade Support

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WnetLink Trade Support

RWA Document

Ready willing and able

Ready willing and able (RWA) is a document that a bank or a financial institution issues on the clients’ behalf. The document showcases the capability and intent (both financially and legally) for entering into the financial transactions. The RWA’s are also referred to as the bank comfort letters.

 

Proof of funds

Proof of funds is a bank statement or a document that demonstrates that a company or a person has the money to finalize the transaction. The purpose of the document is to ensure that the financial ability that is required for the transaction is legitimate and procurable. The document is mostly used for funding those projects that require a huge amount of money for investing, often for real estate transactions.

There is a possibility that proof of funds is used by certain people that might carry out financial scams. This makes it necessary to present with a proof of funds for investigating the other party thoroughly and performing diligence checks.

 

Bank Confirmation Letter (BCL)

Yield 4 Finance provides a bank confirmation letter (BCL) is a letter given by a bank or financial institution as a confirmation for a loan and also for a line of credit extended to a borrower. This letter acts as an official surety on behalf of a borrower that a person, organization, or company is eligible for borrowing a certain amount of funds for a specific purpose.

The bank confirmation letter provides assurance to a third party that the borrower has sufficient financial resources for completing a specific transaction like purchasing goods. Contact the trade finance experts to get the BCL today.

BOOK APPOINTMENT

We need the following documents/ information for finalising the draft –

Filled in application form

  1. Verbiage required in the instrument for SBLC & BG / Pro-Forma Invoice for DLC (If available)
  2. Trade license of your company
  3. Share Holders List
  4. Passport copy of main applicant
  5. Last Three years audited balance sheet
  6. Last Six months latest bank statements
  1. We receive application from client and review it and when we are happy to proceed.
  2. We will arrange a meeting with the client to discuss the terms of the transaction.
  3. We will select the Bank who is ready and willing to transact.
  4. We will send out an offer letter for the client to review, and when the client accepts it, we will create the draft of the instrument for the client to review along with their lender / bank / supplier.
  5. Once the lender / bank / supplier approved the draft, the client or the lender/bank/supplier should sign and stamp the draft, and send it back to us.
  6. We will send an agreement/contract for the client to sign and send back to us.
  7. We will send the client the invoices along with an indemnity document to sign.
  8. When we received the signed counter indemnity document back from the client and the payment for the issuing fee is confirmed,
  9. We will SWIFT the instrument to the beneficiary’s bank immediately.
  10. We will then send the client the relayed copy of the instrument via email within 10 working days.

 

Note: The charges will depend on the value of the Financial Instrument, Tenure, Issuing Bank / Financial Institution.