Ready Willing and Able (RWA) & Proof of funds (POF)

FIN MT format messages are used to cover wire transfers, letters of credit, guarantee, document collection, and other networking purposes. the standard model of a bank to bank and corporate to bank communication is delivered via the MT channel. SWIFT MT is a transactional messaging tool for banking, financial institutions, trading houses, and corporations. It’s a global singular network tool for all financial communication and alliance networking processes.

Apart from letters of credit and guarantees, ITF’s products are Ready willing, and able (RWA), Proof of Funds (POF), Comfort Letter (BCL), etc. Project developers and bidding contractors use these terms in project finance to show their creditworthiness as an applicant.

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Ready, Willing and Able (RWA)
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Proof of funds (POF)
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Comfort letter (BCL)
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RMA & Correspondent banking

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What am I looking for?

Ready Willing and Able (RWA)

Ready Willing and Able (RWA) is a drafted document issued by the banks or financial institutions on behalf of its clients, showing intent and ability both financially and legally to enter into a financial transaction. These letters issued to our clients, usually via MT799 message.

Proof of Facility (POF)

Proof of Facility (POF) is a certificate that shows that a person or a company has the line of credit or a facility to participate in a business deal. It is often applied during the initial negotiations between the participants who are unknown to each other, POF carries a sincerity between the parties to get involved.

Our institution and bank do the due diligence of an applicant if approved our bank quotes the proof of facility, which will be presented during the finalization of a transaction with the beneficiary.

Comfort Letter (BCL)

Comfort Letter is usually prepared by legal team by understanding applicant (clients) legitimate status of business or its finances. ITF offers such a services by doing complete due diligence.

RMA & Correspondent banking

RMA & Correspondent banking is a way to participate in partnering banks using alliance management network via SWIFT channel to exchange or establish communication. Other banks or financial institutions can use our network for advising or act as a advising bank or confirming. For more information contact us.

IMPORTANT NOTICE !

Note: For Proof of Facility (POF)

Con artists seldom use proof of facility to scam the beneficiaries. When agreeing to present with a POF from your parties kindly do the due diligence and thorough investigation before accepting or entering into a contract.