RWA / POF /BCL

Get RWA / POF /BCL Issued From Top Rated Bank

As one of the fastest-growing trade instrument providers globally, we at Express Trade Finance offer a range of SWIFT messages tailored for various trade scenarios. Our offerings include Proof of Funds (POF), Ready, Willing, and Able (RWA), and Bank Comfort Letters (BCL), ensuring smooth and secure international transactions. These messages provide the financial transparency and assurance necessary to build trust and confidence between trading partners, making your global trade operations more efficient and reliable.

There Are Mainly 4 Types Of Swift Messages In International Trade

Proof Of Fund (POF) Messages:

Proof of Funds (POF) messages confirm the availability of funds for a transaction, using bank statements or official documents. These messages are crucial in real estate, investments, and business deals, assuring parties of legitimate and accessible funds, thereby building trust and ensuring smooth transactions.

Ready, Willing And Able (RWA) Messages:

Ready, Willing, and Able (RWA) messages affirm a party's readiness and capacity to enter a contract or fulfill financial obligations. These messages provide assurance of resources and intent, facilitating smoother negotiations and transactions in trade finance, investments, and project financing.

Bank Confirmation Letter (BCL):

A Bank Confirmation Letter (BCL) is issued by a bank to confirm a client's financial standing and available funds. Commonly used in international trade and finance, BCLs provide assurance of financial resources, including account balances and credit lines, helping to facilitate smooth and secure transactions.

Pre-Advice Messages:

A pre-advice message is sent between banks to ensure the safety of wire transfers involving large sums. It notifies the receiving bank of the issuance of documentary credit and requests acknowledgment, ensuring secure and smooth transactions.

RWA / POF /BCL Issuance Procedure- Step By Step

1. In order to finalizing the draft , we need following documents/ information.

i. Filled-in Application form/ Proforma Invoice or Sales Contract
ii. Company Trade License
iii. Passport copy of the owner and shareholders
iv. Last three months bank statement
v. One-year audited financials
vi. Shareholding List

2. After acquiring all the above documents/information, we will assist the client in selection of the issuing bank/financial institution and assist in finalizing the draft for client’s review.

3. Upon receiving the draft copy of the instrument, client must thoroughly review the draft for any corrections, additions or removal of information. Should there be any amendments, we can assist in amendment of the draft accordingly to match clients’ preferences. Once the draft is approved by all the related parties, client will need to send us a copy of the draft with authorized signatory’ sign and company stamp on the draft as client’s approval along with an email confirming the same.

4. We will raise the invoice for the charges agreed and client will make the remittance against the invoice.

5.Only after we receive the payment for the raised invoice, we will assist on following with the issuing bank/financial institution consulted and provide assistance in issuing the instrument through swift/courier within 7 working days depending the issuing bank/financial institution policy.

6. Simultaneously we will assist the client in receiving the issued copy through email for reference and record keeping.

Note: The issuing charges would depend on the amount of the instrument required, the type of the instrument, the issuing bank selected for issuance and the beneficiary bank to which it is to be delivered.

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