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.

PROCEDURE

Issuance Procedure:

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

1. Filled in application form
2. Verbiage required in the instrument for SBLC & BG / Pro-Forma Invoice for DLC
3. Trade license of your company
4. Share Holders List
5. Passport copy of main applicant
6. Last Three years audited balance sheet
7. Last Six months latest bank statements

Step-wise

1. After acquiring all the pertinent documents and information, we will select the issuing bank or financial institution and provide the draft for your review.
2. Upon receiving the draft of the instrument, you must thoroughly review it with all concerned parties. Should there be any amendment, we can revise it accordingly subject to issuer bank’s policy. Once the draft is approved, send us a copy of the draft with signature and approval stamp.
3. We will raise the invoice for the agreed charges and you will make the payment against the invoice.
4. As soon as we receive the payment for the invoice, the issuer will issue and relay the instrument after documentation is completed.
5. Simultaneously, we will send you the issued copy through email for your reference and record.

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