With this global pandemic, it is recommended to encourage the use of guarantees and counter-guarantee subject to URDG 758 as it provides a balance between the interests of all the parties involved.
You might have had thousands of international wire transfer transactions already, but only now have you thought about how these transactions work. How is it possible for banks to communicate… read more →
SWIFT MT799 versus MT760 MT799 is a digital message that is sent between banks; with the aim of showing funds or proof of deposits. It is important to note that… read more →
MT799 Explained When dealing with Bank Guarantees, Documentary Credits, and Letters of Credit (LCs), one may hear the term ‘MT799’ being used. MT799 is a message that is sent between… read more →
A Bank Guarantee is a way for companies to prove their creditworthiness. It promotes confidence in a transaction that will greatly encourage the process. It is a ‘promise’ to make… read more →
What is the difference between a Bank Guarantee and a Letter of Credit? Bank Guarantees and Letters of Credit (LCs) are used in trade to carry out international transactions. LCs… read more →
