When you move forward with a planned strategy, the success of your organization is not a faraway fruit anymore. Planning a business is not comparatively an easy task taking into account all the variable strategic requirements. A good business planning depends on the management of available resources. In that case, optimal management of investor/s, technology, employees, suppliers and assets are included.

The drastic regulatory and economic changes have given rise to a new thought of business models among banks, asset managers and insurers. Given the low-yield investment environment, it is essential to focus on a sustainable net income. And that’s where the Global U Support LLC (GUS) comes into place. As a reliable financial service provider, we offer unique insights and expert advice to our clients to foster their success even during dynamic conditions in the business environment.

As financial services providers based in UAE, we help to secure your profitable growth, stepping into new markets, utilize the finest of technology and rationalize operations, mergers and acquisitions (M&A) with our better-conceived overall strategy.

• Standby letter of credit
• Bank Guarantees
• Documentary letter of credit
• POF and RWA Messages

Standby letter of credit

For any organization, the Standby LC or SBLC (MT-760) is a guarantee of Standby payment issued by a bank or a financial institution on behalf of their client. The standby letter of credit is issued in a condition when the client fails to complete a contractual commitment with a third party company. A Standby Letter of Credit is formed to give reassurance in terms of business transactions and it acts as a proof of a buyer’s ability to repay and credibility

• A direct-pay standby
• A counter standby
• A performance standby
• An advance-payment standby
• A bid-bond standby
• An insurance standby
• A financial standby
• A commercial standby

Having been used in International trade transactions frequently, Standby Letter of Credit can also be used as Collateral in the Credit enhancement process. If a business wishes to expand globally but doesn’t plan to give up on company equity, SBLC is needed. It not only improves a firm’s cash flow but also allows using funds for different purposes to avoid overdue.

As a legible financial services provider, our GUS financial experts understand your business requisites and are helpful in structuring Standby Letter of Credit(SBLC) accordingly to protect interests from overflowing.

A bank guarantee or BG MT760 is a guarantee promised by the bank to the client upon their request. Bank guarantee is issued to meet the debtor’s liabilities if the client fails to act according to the contractual commitment.

Bank guarantees are of two types

1. A direct bank guarantee is issued when the bank holder requests the bank to provide a guarantee in favour of the beneficiary.
2. An indirect guarantee is issued by the second bank in response to an already issued guarantee. If at an instance when the second bank suffers any loss upon any claim made against a guarantee, the losses will be compensated by the issuing bank.

If the applicant misses meeting their obligations financially or via their performance according to the contract signed between them, the beneficiary is the one who should guarantee to turn to for the payment.

BID BOND

This bank guarantee is for the construction bidders on any project. It helps to secure the bidder’s project investment and can be used as an alternative to capital if required by the owner.

PERFORMANCE BOND , or CONTRACT BOND

Having used in the real estate industry, this bank guarantee is to ensure a contractor finishes his assigned project. This guarantee covers 100% of the contract value and under circumstances when the applicant gets a contract, it can also replace a bid bond. In the instances of insolvency of the applicant according to contract, the beneficiary receives compensation for the damages made by the contractor.

ADVANCE PAYMENT GUARANTEE

If the seller fails to meet the obligations, this bank guarantee can take responsibility and return an advance payment to the buyer.

WARRANTY BOND

This is a contract put between a contractor, property owner, and a surety company. So, this is frequently used in the construction and housing sectors. If in cases when any defects are found in the project, the damages will be repaired with this guarantee during the warranty period.

A LETTER OF INDEMNITY

This guarantees financial preparations if the contractual commitments are not met. A letter of indemnity is used to share replacements that have been lost from the treasury of the company.

PAYMENT GUARANTEE

This is for assuring the supplier with financial security if in the instances when the applicant misses the payment for goods or services supplied.

RENTAL GUARANTEES

This guarantee is issued as a promise to the landlord for payment if a tenant fails to pay. Since risks are higher, these rental guarantees are highly useful to industrial and commercial landlords.

Bank Guarantees subject to some terms and conditions. Under which instance, the bank pays a fixed amount to the beneficiary on the behalf of the client only when the conditions are fulfilled.

Letter of credit or Documentary Letter Of Credit (L/C, DLC) is the obligation by the bank which says to pay the seller of services or goods with an appropriate amount of money upon on-time document submission and after confirming performance as per the contract or the shipment of goods as promised.

Being the most important document in international trading, Documentary Letter Of Credit (DLC) acts as a tool to ward off risks both from the importer and the exporter. To mention in particular, DLC has the biggest recognition around the world due to its flexibility.

Some of the forms of documentary letter of credit include

Irrevocable letter of credit – This is the issuing bank’s obligation to pay money as per the terms and conditions defined in the letter of credit. Irrevocable letter of credit assures that the exporter will have to pay even if the deal is aimed to be abandoned by an importer.

Irrevocable confirmed letter of credit – This is an obligation of the issuing bank when confirmed by another bank. This also signifies the guarantee of payment from another bank (Exporter’s bank or prime bank).

Irrevocable unconfirmed letter of credit – An unconfirmed letter of credit by the issuing bank is only partly responsible for the disbursement to the seller. In this case, the nominated bank takes no risk as it acts on behalf of the bank providing credit.

Revocable Letters of Credit – This DLC can be cancelled or changed without any prior notice by the issuing bank. Revoke of a documentary letter of credit does not mean creating an obligation to the payee. The nominated bank will have to pay if during their commission they haven’t got any notice about the change or credit cancellation.

As a versatile financial services provider, Global U Support LLC (GUS) can support you with documentary letters of credit and handle them with utmost care to avoid any discrepancy or loss.

Proof of Funds

Proof of Funds (POA) literally means it is a document which acts as a proof or confirms there is an availability of funds belonging to the person or a company for finalizing the transaction. Global U Support LLC (GUS) helps with the proof of funds(POA) and at every procedure, we assure that the required financial ability is within reach and legitimate. Proof of funds (POA) is utilized for investing in projects that need high funding and real estate business is one such business that falls under this category.

We at GUS make sure of the complete investigation and see to that there are no financial scams left behind notice. From beginning to the end, we investigate properly despite who the party is and perform checks to streamline the entire process.

Ready Willing and Able

As a lawful financial services provider, We GUS will provide Ready Willing and Able (RWA) documents (bank comfort letters) on behalf of the respective client. The document serves the purpose of presenting both the aim and ability both financially and legally before proceeding about with the financial transactions.

• Loan Against Property
• Lease Rental Discounting-LRD(For Rented Commercial Property and Warehouse Property)
• Factory LAP and Factory LRD.
• School Mortgage
• Project Finance for Builders.
• Commercial property and wearhouse purchase loan.
• Home Loan (A Khata/B Khata/With or Without Conversion.
• Unsecured Business Loan upto 70 Lacs.
• Unsecured micro business loan upto 30 Lakhs for Small and medium Enterprises.
• Personal Loan - for Salaried People.