Commercial financial documents representing proof of funds and bank comfort letter transactions

Proof of Funds

Bank Comfort Letter for Commercial Transactions

When a seller or commercial counterparty requires proof of funds, Financely can coordinate the bank comfort letter and, where required, arrange a third party to provide the underlying funds support.

Bank Comfort Letter Support

A clear route from the proof-of-funds request to the BCL

A seller, supplier or asset owner may refuse to progress a transaction until the buyer demonstrates sufficient financial capacity. A bank comfort letter provides bank-level evidence of those funds.

Financely coordinates the process around the underlying commercial transaction. If you already have sufficient funds, we structure the BCL request around your existing financial capacity. If additional financial capacity is required, we can bring in an eligible third-party provider to post the required funds for the transaction, subject to underwriting, compliance and agreed commercial terms.

Transaction Trigger

Your seller, supplier, asset owner or other counterparty has asked you to provide a bank comfort letter or proof of funds before they will continue with the transaction.

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Procedure

How the Bank Comfort Letter process works

The process is typically handled in four stages.

1

Request

Submit the required BCL amount, beneficiary, purpose, requested wording and supporting documents for the underlying commercial transaction.

2

Structure

We determine whether the BCL can be supported by your existing funds or whether additional third-party financial capacity is required.

3

Funds

Where required, Financely brings in an eligible third-party provider to post the funds supporting the BCL, subject to underwriting, KYC, compliance and final commercial terms.

4

Issue

The relevant financial institution verifies the funds and transaction requirements. Once approved, the bank comfort letter is issued for presentation to the designated counterparty.

Bank comfort letter availability, wording and issuance remain subject to the underlying commercial transaction, applicant eligibility, source and availability of funds, KYC and AML review, supporting documentation, provider terms and final approval by the relevant financial institution. A bank comfort letter is not a bank guarantee, payment undertaking or commitment to lend.