Brief Definitions

Payment Guarantee:

Issued under the Buyer's instruction in favor of the Seller. Provides execution of the payment obligation by the Buyer under the contract

Advance Payment Guarantee:

Issued under the Seller's instruction in favor of the Buyer for advance payment. Provides return of the sum in case goods are not delivered.

Performance Bond:

Issued under the Seller's instructions in favor of the Buyer as a guarantee of proper fulfillment of contract obligations by the Seller

Tender guarantees:

This type of guarantee is generally an obligatory condition to participate in tender. Credit Guarantee | Provides credit funds | Customs Guarantee

First Group Capital has long-term experience with the provision of premium bank instruments. We specialize in assisting businesses around the globe whose existing bank facilities are unable to meet their requirements. Bank Guarantees provided by First Group Capital are designed to protect your commercial interests by eliminating the need to prepay for products or services or to put up collateral with your bank. They are helping to reduce your risk and support your cash flow

Recourse Loan:

Recourse Loan is type of loan that allows a lender to seek financial damages if the borrower fails to pay the liability, and if the value of the underlying asset is not enough to cover it. A recourse loan allows the lender to go after the debtor's assets that were not used as loan collateral in case of default.

Bonds & Treasury Bills:

Treasury bills, notes and bonds are fixed-income investments issued by every, Treasury Department everywhere around the world. They are the safest investments in the world since every government of every nation around the world guarantees them. This low risk means they have the lowest interest rates of any fixed-income security. Treasury bills, notes, and bonds are also called “Treasury's” or “Treasury bonds” for short.

Funds Receivership:

Receivership is a sort of corporate liquidation in which a beneficiary is selected by bankruptcy courts or creditors to run the organization. The collector might be designated by bankruptcy courts or creditors to run the company as an issue of private procedures, or by a representing body. As a rule, the recipient is given extreme basic leadership controls and has full prudence in choosing how they got resources will be overseen.

More so, a receivership needs to furnish a business with a chance to rebuild in other to evade liquidation by utilizing a court-selected trustee, alluded to as a collector, to regulate business operations. Completely as a major aspect of working the receivership, the beneficiary accept rights over the related business resources and properties and holds the capacity to stop all profit or relevant intrigue installments. Individuals from the official administration or governing body lose all basic leadership

SWIFT MT799:

MT799 is an essential part of international trade; a 'free format message' sent between banks, which confirms funds or proof of deposits on a potential trade. MT799 allows banks to communicate between each other freely through the SWIFT system, rather than being a mechanism for transferring funds or paying.

SWIFT MT760:

MT760 is a SWIFT Message Type that Bank Guarantees are sent and received by inter-communicating banks. When sending a Bank Guarantee by SWIFT, the SWIFT Operator will enter the details on this Message Type relating to the specifics of the Guarantee. It is only Bank Guarantees that are sent with this Message Type 760.

SWIFT MT199:

MT199 is an Interbank Message used between two banks to transmit a SKR or a free format message engaging two bank's readiness to move forward with a transaction, usually a private one. A MT199 swift message is easily explained as a “chat” message. You use this format when a transfer order has been sent and you want to “notify” the beneficiary bank in order to sort out something, or to find out if funds have been applied, or other basic info.

Verification of Deposit “VOD”:

A verification of deposit is a document through which a mortgage lender obtains proof from a borrower's banking institution of his or her balances. Upon a lender's request, a banking institution will fulfill this inquiry by providing current data as well as two months' worth of the borrower's average bank balances.