Oxford Credit Banque Limited

Proof of funds are a type of financial instrument that guarantees the seller that buyer has an adequate amount of money to take part in the business transaction. This service is offered by many financial institutions and plays a crucial role in international trading. In this article, you will explore the importance of proof of funds. So let's start. What is proof of funds? Proof of the fund is a type of document that certifies an individual or corporation has sufficient amount of funds to complete a business transaction. In other words,  you have the required money to purchase a thing.  These documents give confidence to the seller that you are a serious trader or buyer.   In a proof of funds, you have to add your name, account credentials as well as current balance in your account with a specific date. All these credentials should be mentioned on a letterhead from your bank and should be attested or signed by an official employee of that particular institution. The proof of funds

No matter if you are running a small business or large. You may have experienced credit risks at least one time in life. And a letter of credit may be the best solution to enable your trade relationships by overcoming the credit risk. In this process, a bank issues a letter to an organization for a person as a guarantee of payment. But recent research shows that Non-Performing Letter of Credit works for some cases when the other payment options do not.  Importers and exporters can get the amount via a Non-Performing Letter of Credit, depending on the terms and conditions. To learn more, keep on reading the post! What is a Non-Performing Letter of Credit? This term is also known as a standby letter of credit. It is a written obligation of an issuing bank to pay an amount to a beneficiary. The bank makes the payment on behalf of a customer who did not pay the former. According to experts, the Non-Performing Letter of Credit is applicable only when the letter is not liable for the validit