PRIFAN is currently providing SBLC/BG Collateral
Our simple and secure procedures The collateral provider provides a callable SBLC or BG from one of the prime banks.
They generally issue from BNP (historically) and Commerzbank.
Prifan roleThe role of PRIFAN is to initiate the transaction and ensure it is completed smoothly.
The collateral provider utilises a dedicated Advisor and Facilitator with a London lawyer regulated by the SRA in England.
Procedures The procedures are based on payment after delivery. This means that the premium is payable after the recipient bank has received and verified the SBLC/BG.
The payment mechanics are automated through English lawyers using a letter of undertaking from the client’s law firm to the collateral provider’s law firm.