Credit Glorious Property Holdings can offer different financial services to meet every need of its clients. This ability is the result of extensive experiences, and the many successful transactions reinforce it.
The main services and products designed by Credit Glorious Property Holdings are the followings:
The Bank Guarantee is the commitment from a bank of corresponding a certain amount “at the first request” (and in this case, we have the guarantee of “giving”or independent bank guarantee) or guaranteeing a series of economic and operative fulfillments under specific conditions (and in this case, we have the guarantee of "doing").
Thanks to the advance payment guarantee, clients’ commissioners are sure that every deposit paid will be used only for the purpose or entirely refunded to get back as soon as possible the funds to fulfill the commitment.
Given the highly competitive scenarios,the bid bond is an adequate instrument to demonstrate your commercial offer's reliability. In the event of substantial commitment, this instrument ensures to accept and perform the commitment properly. Consequently, the company will establish a better reputation, giving greater credibility to its offers.
It happens quite often that the commissioners ask for a guarantee to be sure that, especially regarding important commitments, the bidder will fulfill its obligation to comply with the position offered. The performance bond offers this reliability and so consolidates the offer validity, preventing the rising of concerns.
The commissioners often request an independent guarantee, for the bidder to fully and completely deliver what was agreed and also to guarantee that any possible defect in the goods will be removed or refund. With our warranty bond, this obligation can be perfectly fulfilled.
With the credit guarantee, it is possible to make available to a third party,i.e., a business or commercial partner, your creditworthiness. In this way, it is guaranteed to the bank that provides the credit, full coverage for the beneficiary’s credit, and interests.
In the import/export operations, la lettera di credito (letter of credit, the letter of credit (LC or L/C) is, without any doubt, the most used international payment method, safe and advanced, that resizes the risks of default, shifting the requirement of receipt from the applicant to the bank, this last then guarantees for the whole transaction. This is even clearer when the applicant comes from a country with a high “country risk.”
The main characters in this operation are four:
It should be underlined that, for the success of the emission, the beneficiary has to present all the documents needed following the rules and the time limits set in the letter of credit and with the Uniform Custom and Practice of the International Chamber of Commerce Commerce (UCP 600, also known as ICC 600 and NUU 600) since 01/07/2007 and the International Banking Practice (ISBP 745) since 01/07/2013.
In this sense,the letter of credit is characterized by:
It appears that for the beneficiary is very important to prepare and deliver with the utmost attention and accuracy all the documentation needed,as this represents the core of the agreement.
top priority of a Stand-By letter of credit is to ensure the success of the operation, with the action of an institutional unit, the bank, which is committed to carrying out a financial performance at first request, if a third party does not fulfill a particular obligation but the condition contained in the guarantee contract are fulfilled. This is independent of both the primary debt and the agreement between creditor and debtor.
This financial instrument is mainly designed for the companies that want to increase their competitiveness and enter, in this way, the foreign markets through a safe payment method accepted worldwide.
For its characteristics, it is a way of operating between the bank guarantee and the documentary credit.For its use, in the same way as the documentary credit, it involves the delivery of suitable documentation, even if the primary function is to fulfill a guarantee.
TheStandby Letter of Credit is mainly used in the English-speaking countries,, where it is used as a substitute for the guarantees, especially for the lack of legal definition of guarantees, as intended in the civil law countries. civil law.
The Standby Letter of Credit is regulated by the Uniform Custom and Practice of the International Chamber of Commerce (UCP 600 rev. 2007). In the English-speaking countries, the Standby Letter of Credit is preferred, according to the International Standard and Practice concerning the Standbys (ISP 98 – Rev. 1999) and the International Chamber of Commerce.
The proof of funds refers to one or more documents in where is demonstrated that a natural or legal person has the funds and the abilities for a specific transaction. This instrument is usually presented as a bank declaration for safety or safekeeping.. The proof of funds document aims to ensure the accessibility and legitimacy of the funds needed to fulfill the transaction.
the Escrow account underlies a binding agreement, known as escrow agreement, between two partiesthat states a certain amount of money or title deeds must be pre-deposited with a third party as a guarantee. This amount is then released when a specific resolutive condition chosen by the parties is fulfilled.
This is essentially a guarantee agreement that can include establishing a bank account to protect the transaction, known as Escrow: the aim is to have an independent third party.
It consists of a financial institute that will act as a guarantee. In the bank, is built a bound deposit fund that guarantees the deposit of a certain amount of money,an amount that has to transit between the two parties as a counterpart of the commercial transaction. Once the transaction is fulfilled, the bond will not exist anymore, and the funds will go from one party to the other. Through an Escrow Agreement, the parties protect and guarantee the payment only when the resolutive condition is fulfilled.
There also are other kinds of more specific services and products,born and developed according to the needs of an international client base, which is used to successfully deal with an ever-changing global market, allowing the establishment of a long-term partnership with our customers.