Bank Instruments

Bank Instruments

What is a Bank Instrument?

Bank instruments is a written commitment of a bank that issues it to pay a certain amount of money on behalf of the bank’s client in favor of a beneficiary in case the client/buyer is not able to fulfill its financial obligation to the beneficiary/seller.

Using a Bank instrument in business transactions is an indication of good faith and proof of financial credibility and repayment capabilities of a buyer.

What you need to remember with bank instruments, is that the bank itself is only adept at handling the paperwork and do not have any say in the commitment or contract that the two parties develop. The bank only cares about the bank instrument and the terms therein. The bank decides to pay on a bank instrument because they have to adhere to the terms of the bank instruments

Our Services

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+44 20 8895 6493 
Helpdesk@prominencebank.com

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Services We Offer

The Prominence Bank provides many different choices of financial instruments to our clients for both purchasers and providers interested in Trading in a global market or just as credit enhancement. We provide financial instruments used most often in the industry such as Letter of Credit (LC), Documentary Letter of Credit (DCL), Standby Letter of Credit (SBLC), Bank Guarantee (BG), Bank Draft and Key Tested Telex (KTT – TELEX).

Bank Confirmation Letter (BCL)/Proof of Funds (POF)

Our clients also benefit from us helping them with Bank Confirmation Letters (BCL) or Proof of Funds (POF). We use these typically for commodity trades like oil and gas service equipment, steel, precious gems, and others. There are many services that we can open acceptable credit lined in the import and export trades depending on manufacturers and suppliers.

Bank Instruments Transactions

Import/Export Trade.
Project Finance Collateral.
Assistance in the acquiring of a Bank Instrument (Bank Debentures).
Additional Credit Enhancements: Real Estate, REO Pool, and Companies as well as Businesses.

If you would like to work with us, you can use our forms to apply for bank instruments. Please click here to Contact us