Proof of Funds
We are committed to guiding you through today’s complicated credit environment by targeting your specific needs to insure future success for your business and yourself!
Types of processes our products assist with:
Proof of Funds & Letters of Credit
Welcome to our boutique of financial instruments:
We offer proof of funds with financial backing of over $500billion in assets. Our funds are fully verifiable via bank swift (MT760, MT799, MT999 & MT103/23), bank call, VOD or soft escrow etc. Written Confirmations from 1 to 366 days up to $5B. Clients have utilized these funds for a variety of reasons. These programs aren’t to be used for any Arms, Drugs or any other transaction that are illegal. We do not qualify the use of these accounts.
Our programs exist of but are not limited to:
PROOF OF FUNDS – Investment Brokerage Account: Great to enhance and leverage your transactions with large funds at low costs.
PROOF OF FUNDS LETTER – Investment Brokerage Account: Works very well for Real Estate show of assets.
PROOF OF FUNDS – Top Bank: Enables clients to enter into new arenas of high yield opportunities.
LETTERS OF CREDIT – Investment Brokerage Account: SBLC- BG- DLC Etc. Great for Import/Export and other large transactions.
LETTERS OF CREDIT – Top Banks: Leverage large projects for high volume funding.
- This is a Forex Master Trading Account.
- Yes… it is cash backed.
- This account offers seasoning by request.
- Amounts from $50K to $5B and at times higher.
VOD, phone and fax verifiable.
- Swift MT799 by request for additional costs.
- Funds can be blocked for the transaction and Administrative holds are available.
- Great for showing proof of assets for real estate and other business transactions.
- Verifiable by standard VOD, phone and fax verification.
- Very inexpensive method of proof of fund.
- Cash Backed.
- Top Bank.
- Master Account.
- 8 week programs with extensions.
- Starting from $1M and up.
- MT799, MT760 Ping or Fax verification.
- Blocked and reserved for the transaction.
- SBLC/SLOC: Standby Letter of Credit.
- DLC: Documentary Letter of Credit.
- BCL: Bank Capabilities Letter.
- BG: Bank Guarantee.
- Up to $10B.
- 1 to 13 months with extensions.
- Great for Import/Export and commodities.
- Large transactions.
– This acts as a guarantee of payment issued by a financial entity on behalf of a client that is used as “payment of last resort” should the client fail to fulfill a contractual commitment with a third party. Standby letters of credit are created as a sign of good faith in business transactions, and are proof of a buyer’s credit quality and repayment ability. The financial entity issuing the SLOC/SBLC will perform brief underwriting duties to ensure the viability of the contract and transaction, as well as the integrity of the party seeking the letter of credit. Typically, the letter of credit is cancelled as soon as the terms of the contract have been met by the purchaser or borrower. After due-diligence is concluded, the issuing process is 2-3 days.
- Top US and European Banks
- Leverage Funding
We pride ourselves with our success track record and effectiveness to produce results for you. Consider us your complete one stop source for Proof of Funds. Ask about our broker network program. Please note our arrangement fee is upfront (through escrow) and not as a success fee.
Procedures and Forms
1. Client, or client’s representative, will provide the necessary information to provide a quote. The minimum information needed is: the client’s name, email address, telephone number, and physical address, account funding amount, account term and type of account verification required.
2. A Term Sheet will be issued for the amount of funds requested by the Client. The Term Sheet will stipulate the Arrangement Fee, refundable processing costs, escrow fee and include a short application.
3. Upon receipt of the signed Term Sheet, processing fee, escrow fee, application and proof of ability to deposit the Arrangement Fee in the Escrow Account, a Principal Agreement will be issued detailing how the Proof of Funds is to be provided. The agreement will include provisions concerning delivery of confirmation documentation and terms of account use. Escrow instructions will also be provided so that the initial Arrangement Fee can be deposited by the Client into the Escrow Trust Account. It is a condition in the Escrow Agreement that in the event we do not open the Proof of Funds account, the Arrangement Fee will be returned in full to the Client by the Escrow Agent.
4. Concurrent with the Client’s execution of the Principal Agreement, the Client must deposit the initial Arrangement Fee into the Escrow Account. The Client will be required to provide the necessary documentation to complete the account establishment process. This information will include color copies of photo ID’s for all signatories; a second ID including address; Certificate of Good Standing or Incorporation, if applicant is a company; Employer Identification Number (if applicable) and Corporate resolutions (if applicable) and social security numbers for individuals. The Client will be a signatory on the account, but will be unable to conduct transactions or encumber the funds in the account in any manner.
5. Upon confirmation that the Arrangement Fee has been deposited by the Client into the Escrow Trust Account, the Proof of Funds Account will be opened in the Client’s name, and funds will be deposited into the POF account in the amount stipulated in the Principal Agreement.
6. The Arrangement Fee is released from the Trust Account when confirmation is provided to the Escrow Agent that the account has been set up in the client’s name, and that the appropriate funds have been deposited as stipulated in the Principal Agreement.
7. The Proof of Funds account will remain open for the Client’s use for the period of time stated in the Principal Agreement, and conditionally, may be extended through mutual agreement, and payment by the Client of the Arrangement Fee for such extensions, within five (5) days of the expiration of the current term.
Frequently Asked Questions
Proof of funds: blocked funds in a cash account with the client (personal or business name) on the account (master account) for a specified term. These moneys are not available to draw against, encumber … Etc.
Why do I need to pay your fee before you open the letter of credit? Can’t you take your fee out of the profits of our transaction?
We do not participate in the transactions of our clients as a party to the transaction other than providing the Letter of Credit. Our fees are the same regardless of the profit margin in the transaction.
Can I cancel my letter of credit after it has been opened?
All of the instruments that we issue are irrevocable and cannot be canceled except by the beneficiary.
What is the required cost to open a letter of credit?
We require an amount equal to ___% of the face value although in some instances the required amount may increase due to the amount of risk involved. When a client wishes to open a letter of credit, they are to present the details of the transaction so that we can make a decision based on its merit.
What is the maximum size letter of credit that you open?
We are able to open letters of credit of almost any size. We consider the complexity of the transaction such as the product that is being traded as well as other factors having to do with the parties involved and where they take place.
For what type of goods do you open letter of credit?
We can open letters of credit for any type of goods provided they fall into our ethical and legal criteria. That said, we will not get involved in transactions involving weaponry or ammunition under any circumstances.
I opened a letter of credit to my supplier, but he did not ship the goods.
Will you refund my fee?
Once the letter of credit is opened your fee cannot be refunded. We recommend to all of our clients that they need to assure themselves of their suppliers’ ability to perform before opening any banking instruments to them.
DISCLAIMER: Sender is NOT a United States Securities Dealer or Broker or U.S. Investment Adviser. Sender is a consultant and makes no warranties or representations as to the buyer, seller or transaction. All due diligence is the responsibility of the buyer and seller. This E-mail letter and the attached related documents are never to be considered a solicitation for any purpose in any form or content. This document including any attachments hereto is a response to a formal request of information only. Upon receipt of these documents, the Recipient hereby acknowledges this disclaimer. These documents are not from any banking or other Institution. We do not provide securities or securities-related advice. No information herein shall be construed as a solicitation of investment funds or a securities offering in any way. These Confidential communications are protected under Gramm-Leach-Bailey Act 15 USC, Subchapter 1, sections 6801-6809 and other laws addressing the disclosure of Non-Public Personal Information.
CASH FLOW SPECIALISTS, INC.
P.O. Box 844
Alamo CA 94507
925-691-8200 Direct to my desk
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