Services
In the rapidly developing trade environment a trade finance facilitator that connects discerning clients to the provider and or broker with the knowledge of local business customs and rules combined with a global reach is vital.
Merchant Credit and Guarantee Corporation Limited (MCG) is the culmination of several senior banking professionals with over 150 years collective experience in banking and finance and more so trade credit services. At MCG we make it a point to know our client requirements in complete detail so that we can provide the right guidance and advice to help them attain their goals. Our dynamism and adaptability to suit local and client specific needs, is a major advantage enabling clients achieve their objectives in an efficient, timely and cost-effective manner. MCG has been operating as a Non-Bank and Non-Financial Company since 2000 and has recently been restructured to use its resources manpower wise and financially to undertake facilitation of client who need large exposures in the business of trade credits.
We combine our knowledge base with opinions and guidance from local trade experts in the major trading centres of the world to ensure that our clients transactions are effortlessly and effectively managed providing the clients the best possible opportunities to grow.
Our Services
Letter Of Credit
Letters of Credit are as old as banking itself. They are based upon the fact that the creditworthiness of an unknown Buyer is thus replaced by the creditworthiness of a known Bank or financial company. Merchant Credit and Guarantee Corporation Limited (MCG), often has to stand in the shoes of its customers and give some form of undertaking that payment will be made provided certain conditions are complied with. This mechanism is called as Letter of Credit or Documentary Credit.
Standby Letter Of Credit (SBLC)
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 fulfil a contractual commitment with a third party. SBLC are created as a sign of good faith in business transactions, and are proof of a buyer's credit quality and repayment abilities. The bank issuing the SBLC will perform brief underwriting duties to ensure the credit quality of the party seeking the letter of credit, then send notification to the bank of the party requesting the letter of credit.
Bank Guarantee
A document that demonstrates that a person has the ability and funds available to use for a business transaction. It usually comes in the form of a bank, security or custody statement. The purpose of the document is to ensure that the funds required for the transaction are obtainable and legitimate. Merchant Credit and Guarantee Corporation Limited (MCG), are a trusted Proof of Funds facilitator that has been relied on for several decades by many thriving businesses in the financial industry.
Documentary Collection
International trade procedure in which a bank in the importer's country acts on behalf of an exporter for collecting and remitting payment for a shipment. The exporter presents the shipping and collection documents to his or her bank (in own country) which sends them to its correspondent bank in the importer's country. Merchant Credit and Guarantee Corporation Limited facilitates international trade transactions by providing a documentary collection facility.
Performance Guarantee
A performance guarantee is a promise made that either a service lives up to certain expectations, or that a product will continue to perform well over a stated time period. In the business world, there are many such guarantees, each created in individual ways to define the company's commitment and extent of future responsibility. Sometimes, third parties guarantee performance of something too, especially when employing subcontractors.
Proof Of Funds Documents
A document that demonstrates that a person has the ability and funds available to use for a business transaction. It usually comes in the form of a bank, security or custody statement. The purpose of the document is to ensure that the funds required for the transaction are obtainable and legitimate. Merchant Credit and Guarantee Corporation Limited can provide many products and services to assist you in your financial needs.