Our process and procedure for issuance of instruments

At Core Trade Finance Limited, we pride ourselves on providing a seamless and efficient process for acquiring trade finance instruments. Our commitment to transparency, simplicity, and professionalism ensures that our clients can secure the necessary financial tools to thrive in international trade. Below, we outline our step-by-step process to guide you through obtaining our services.

Step-by-Step Process

Step 1: Initial Application

Begin by filling out our application form or sharing your Proforma Invoice, Sales Contract, or Project details. This initial step allows us to understand your specific needs and prepare accordingly.

Step 2: Draft Preparation

We will prepare a draft of the required financial instrument based on your request. Should any amendments be necessary, revisions will be made to ensure the document meets your requirements.

Step 3: Documentation Submission

For due diligence, please provide the following documents:

• Brief information about your company (Presentation or Executive Summary).
• Certificate of incorporation.
• Company shareholder pattern (Main shareholder).
• Passport copy & Nationality ID of the main shareholder.
• Bank statements and tax details, if necessary.

Step 4: Due Diligence and Validation

We will conduct a thorough due diligence and validation process. If approved, we will prepare the “Service Agreement” and Invoice for your review.

Step 5: Agreement and Payment

You will need to sign and stamp the “Draft and Service Agreement as Approval of Acceptance” and proceed to pay the issuance fee. This step formalizes your acceptance and initiates the financial process.

Step 6: Issuance of Financial Instrument

Upon receiving the fee, we will initiate the issuance of the financial instrument via SWIFT. For hardcopy instruments, we will arrange for posting or courier delivery.

Step 7: Confirmation of Receipt

Once the instrument is issued, you (the applicant) will receive a confirmation of receipt, ensuring that the process is complete and the instrument is ready for use.

Important Notices

• Hard Copy Instruments: Our banks can issue hard copy instruments upon request.
• Usance or Deferred LC: We provide Usance or Deferred Letters of Credit, typically under Document Against Payment terms. In special cases, some of our banks accept consent messages via SWIFT from the beneficiary bank to release the documents to the applicants.
• Payment Methods: We only accept bank or wire transfers. We do not accept escrow or other payment methods.
• Completion of Work: Our work is considered complete once the instruments are issued, and we will provide a copy of the SWIFT message for your reference.

Trade Finance Products We Offer

We offer a comprehensive range of trade finance products, including:

• Letters of Credit (LC)
• Standby Letters of Credit (SBLC)
• Bank Guarantees (BG)
• Bid Bonds
• Tender Bonds
• Performance Guarantees
• Advance Payment Guarantees
• Warranty Bonds
• Indemnity Bonds
• Proof of Funds
• Ready, Willing, and Able (RWA) Letters
• Comfort Letters
• Other trade and project-related financial services

Avoiding Scams

Be cautious of fraudulent schemes that misuse terms like “SBLC funding,” “Monetization,” or “Investment against bank guarantee.” These are often used by scammers to defraud clients. If you encounter anyone using our company name in such contexts, please verify with us directly.

Conclusion

At Core Trade Finance Limited, we are dedicated to providing reliable and unsecured trade finance solutions that cater to the diverse needs of businesses engaged in international trade. Our transparent and streamlined process ensures that you receive the financial support you need without the constraints of collateral.

Contact us today to learn more about our services and how we can assist your business in achieving its international trade goals.