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Standby Letter of Credit

Virtual Dreams Finance (US) ensures standby letters of credit hassle-free. It’s a secure guarantee by a bank, ensuring payment if a client defaults. This flexible tool is preferred for secure transactions, mandated by US regulators.
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Bank Guarantees

At Virtual Dreams Finance (US) Limited, we assure bank guarantees for all our customers, handling all processes seamlessly. A bank guarantee is a promise made by the bank to cover a debtor’s liabilities if they fail to meet contractual obligations to the beneficiary. Trust us for secure payments.

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Documentary Letter of Credit

Virtual Dreams Finance Providers (US) Limited guarantees the Documentary Letter of Credit, ensuring payment as specified. This tool is vital for international transactions, facilitating relationships between buyers and suppliers from different countries. Compliance with its conditions is key.

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RWA Documents

RWA (Ready, Willing, and Able) is issued by a bank to showcase the client’s financial capability and intent for transactions. It’s also called a bank comfort letter.

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We at Virtual Dreams Finance Providers (US) Limited make sure that each and every customer receives the desired trade finance services on a timely basis.
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Stand by Letter of Credit

what it does

Assured Standby Letters of Credit: Simplifying Secure Payments with Virtual Dreams Finance Providers

Virtual Dreams Finance Providers (US) Limited assures standby letters of credit to all its customers without facing any difficulties. A standby letter of credit is a guarantee provided by a bank or financial institution under which a beneficiary is paid on behalf of a client when an applicant defaults. This financial instrument is among the most preferred and flexible tools for making secure payments. A standby letter of credit emerged as a legal limitation imposed by a US regulator on a bank’s authority to provide guarantees.

The standby letter of credit has gained a lot of popularity for the purposes of international trade. It provides assurance or a guarantee that the party will receive payment regardless of the circumstances. Virtual Dreams Finance Providers (US) Limited ensures that all our customers do not face any sort of difficulties or hassles. Our trade finance experts will provide you with the needed guidance.

The standby letter of credit is further divided into different types. These are as below:

A performance standby

A direct-pay standby

An advance-payment standby

A bid-bond or tender-bond standby

A counter standby

A Financial standby

An insurance standby

A commercial standby

Bank Guarantees

what it does

Secure Your Transactions: Bank Guarantees with Virtual Dreams Finance Providers (US) Limited

We, at Virtual Dreams Finance Providers (US) Limited, assure bank guarantees to all our customers and take care of all the processes involved in it. A Bank Guarantee is a promise made by the bank to meet the liabilities of a debtor in case an individual doesn’t meet the contractual obligations of the beneficiary and the applicant. The beneficiary looks up to the guarantee for payment.
Bank Guarantee is a useful financial instrument that enables companies to expand their existing business by bidding on transactions. There are various instruments it can be used for, including a bid bond, a performance bond, advanced payment guarantee, a warranty bond, a letter of indemnity, a payment guarantee, a rental guarantee, or a confirmed payment order.

There are two types of bank guarantees:

Direct guarantee

A Direct Guarantee is a guarantee that a bank offers in favor of the beneficiary. The account holder asks the bank to do so.

Indirect guarantee

An indirect guarantee, as the name suggests is a guarantee that is not directly issued by the bank, however, a second bank provides the guarantee in place of an already issued guarantee. In a case where the second bank faces losses when a claim is done against the guarantee, then the original bank that provided the guarantee compensates the losses.

There are different types of Bank Guarantees That are available. These are:

Performance Bond or Contract Bond

This type of bond is commonly used in the real estate industry that provides an assurance that a contractor will complete the project assigned to him.

Bid Bond

A Bid Bond is most commonly issued for bidders that are dealing in the construction based projects.

Payment Guarantee

A Payment Guarantee provides the supplier nancial security in case the applicant doesn’t pay in time for the goods or services which are supplied.

Rental Guarantees

Rental Guarantees is an assurance of payment to a landlord in a situation where the tenant doesn’t pay the rent.

Warranty Bond

The Warranty Bond denotes that all the defects that are found in a specic project will be taken care off in the period of warranty.

Advance Payment Bond

An Advance Payment Bond is an agreement where an issuer takes the full responsibility for returning an advanced payment to the buyer in case the seller doesn’t pay.

Letter of Indemnity

Letter of Indemnity is a guarantee stating that all the contractual provisions are taken care of otherwise the reparations will be made.

Documentary Letter of Credit

what it does

Secure Transactions Worldwide: Virtual Dreams Finance Providers (US) Limited Offers Documentary Letter of Credit

Virtual Dreams Finance Providers (US) Limited assures the benefciary the Documentary Letter of Credit which is a guarantee regarding the payment as per the letter. The Documentary Letter of Credit is mostly used for international transactions under which both the buyer and supplier operate from separate countries and build a relationship. The letter has a condition stating that the compliant presentation should be under it.
The Documentary Letter of Credit allows the recipients to receive the credits crucial for financing a project. This makes it a very important financial instrument, especially for short-term needs. For settling the due amount, the recipients are hopeful of getting enough returns in the stated time frame. A Documentary Letter of Credit consists of all the information like the expiry information, the date and time of the letter which is required by the beneficiary on presentation. The beneciary gets the compliant presentation which is a guarantee by the Documentary Letter of Credit for getting paid. Meeting the delivery conditions is the prime condition that needs to be met.
Virtual Dreams Finance Providers (US) Limited will ensure that the bank writing the Documentary Letter of Credit on the behalf of the applicant veries that all the terms and conditions are duly met for the documentation purposes before an amount is given to the supplier.  The issuing bank and beneficiary are the concerned parties for a Documentary Letter of Credit. The letter is under the control of the International Chamber of Commerce (ICC) rules and these rules are known as the Uniform Customs and Practice for Documentary Credits (UCP). Since, July 1st, 2007, the current version is into existence. The creditworthiness of the issuer comes in place of the buyer’s creditworthiness which gives the supplier the assurance that he will get paid.

RWA Documents

what it does

Ready Willing and Able

Ready willing and Able (RWA) is issued by a financial institution or a bank on behalf of the client. The purpose of this document is to show the capability and intent for performing the financial transactions. The RWA document is also known as the bank comfort letters
OUR STRATEGY
Understanding the requirements of our customers is the first consideration that we at Virtual Dreams Finance Providers (US) Limited keep in mind. This enables us to ensure that the trade finance service we provide to our customers is as per their specific needs.