BANK INSTRUMENTS :

Asean Capital is a consulting and financial services firm, providing finance solutions to individuals, small business and corporate clients in the sectors of oil and gas, property development, construction,agriculture, mining,Land, Building Factory, Industries Theatre, Hotel, Sick Units, Educational Institutes, Traders, Service Sectors, Oil Mills, Private Limited or limited Company etc. etc.

We provide Financial Bank Instruments.Our strength in financial services is to be there where the customer’s traditional finance provider is not coming up to his needs.

We provide financial instruments including Bank Guarantees (BG), Standby Letter of Credit (SBLC), Letters of Credits (LC), Medium Term Notes (MTN), Proof of funds.

BANK GUARANTEE (BG):

Bank Guarantee is a type of guarantee in which a bank ensures to repay for the liabilities of a person, debtor or an organization when they are unable to repay it themselves. It is similar to a surety given by a third party for the liabilities of a debtor except that the third party in this case is a Bank. The guarantor i.e. the bank undertakes the responsibility for the repayment of the liabilities of the party primarily responsible for it and hence sit provides security to that party.

LETTER OF CREDIT (LC):

A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.In modern business practice, a letter of credit (LC) also known as a Documentary Credit, is a written commitment by a bank issued after a request by an importer (foreign buyer) that payment will be made to the beneficiary (exporter) provided that the terms and conditions stated in the LC been met, as evidenced by the bank.

STANDBY LETTER OF CREDIT (SBLC) :

A standby letter of credit (SLOC) is a guarantee of payment issued by a bank on behalf of a client that is used as "payment of last resort" should the client fail to fulfill a contractual commitment with a third party. SBLC can be also used as a security to obtain credit lines and is ideal for company, which plans to expand its business but does not want to utilize its assets. Standby LC should be always issued as an Irrevocable financial instrument and cannot be cancelled or revoked since it has been issued & transmitted via SWIFT MT799/760

PROOF OF FUNDS (POF) :

A proof of funds (POF) is a document or bank statement proving that a person has the financial ability to perform a transaction. Temporary residents: Proof of Funds / Financial Support. ... verbal or written statements, which can be confirmed, that satisfy an officer that sufficient financial support from friends and/or family is available and has been arranged to adequately cover all reasonable expenses to be incurred during the stay in Canada.Apr 25, 2014

SAFE KEEPING RECEIRPTS (SKR) :

Safe Keeping Receipt or SKR, or Safekeeping, is where an asset owner elects to place that asset in the care of an Agent, usually a Bank or a Financial Institution and receives an acknowledgement from the Bank as to their “Safekeeping” of that asset.

DTC/ IPID/ IPIP/ S2S :

MODES OF TRANSACTION. Black, blue, and/or grey screens; IP/ID; IP/IP; DTC; MT103 one-way and two-way; BG/SBLC; POP ... Provider's bank issues a letter in bank letterhead confirming to receiver the provider's bank account and attestation that the provider is the signatory of the account. Provider issues notarized letter ...