Merchant Credit and Guarantee Corporation Limited (MCG) is a Non-Bank and Non-Financial Company providing consultancy services to assist and support anticipating clients and companies to facilitate trade and business. Communication is the key to take your business to great heights. Hence, clients are required to establish good connections with their buyers and suppliers. Some principles and rules need to be followed to make this communication better. Merchant Credit and Guarantee Corporation Limited benefits and interacts with various bankers and traders to build trade credit lines.
What is a Letter of Credit?
A letter of credit is a letter from a bank assuring that a buyer's payment with the correct amount will be received by the seller on time. A Commercial Letter of Credit is a valid agreement between the banks issuing the credit that enables another bank to make payments to the beneficiary on behalf of the customer. The other names of Letters of Credit are Banker’s Commercial Credit, Documentary Credit, and Letter of Undertaking. A Commercial letter of credit is a method in which the issuing bank makes the payment directly to the beneficiary.
Types of Letter of Credit:
- Commercial Letter of Credit
- Standby Letter of Credit
- Confirmed (And Unconfirmed) Letters of Credit
- Back-to-Back Letters of Credit
- Revolving Letters of Credit
- Deferred Payment Letter of Credit
- Red Clause Letter of Credit
- Irrevocable Letter of Credit
MCG provides Credit Corp Financial Solutions that helps in trade finance for the import and export or opening a Letter of Credit, Standby LC, or other forms of Trade Credit. We have an agreement with banks like Commerzbank, Societe Generale, Deutsche Bank, Wells Fargo, Citibank, amongst others. Our global banking network is connected from small to large to corporate financial solutions to cater to all your needs. We provide superior service along with top-quality Credit Corp Financial Solutions.
What is Credit Guarantee Fund Scheme?
Credit Guarantee Fund Scheme is set up to cover some portion of the losses aroused when borrowers bilk on loans. The purpose of this scheme is to encourage financial institutions, and especially commercial banks, to grant small businesses with feasible projects which are unable to provide adequate assurance or unable to provide suitable financial transactions record to prove that they are creditworthy.
MCG provides professional service and friendly support to all its customers and clients!!!
Merchant Credit and Guarantee Corporation Limited (MCG)
Phone: +64 9 5244269
Email: info@merchantcreditcorp.co
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