RWA & POF
Ready willing and able (RWA) is a Fin MT799 pre advice letter issued by the bank or a financial institution to convey that both parties i.e “issuing bank and the applicant” are willing to involve in a specific financial transaction and it is a sign of proceedings.
Proof of Funds (POF) is a letter prepared by the bank or a financial institution to certify that an individual, company, or corporation has sufficient funds (money) to initiate and complete a transaction.
Construction companies, developers and contractors use these terms in project finance to show their creditworthiness as an applicant.
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 banking is a way to participate with other banks using alliance management network via SWIFT channel to exchange or establish network of communication using partner banks correspondending banks.
Bank Advice and Confirming, banks or financial institutions can use our network for advising i.e act as a advising bank or confirming bank. 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.
Request Application Form
Ready, Willing and Able (RWA)
Proof of funds (POF)
Comfort letter (BCL)
RMA & Bankers advice
* Check out ITF’s range of customized and SWIFT services, We have excellent underwriting team and we worked in the vast areas from international trade, green projects, government tendering etc, feel free talk to us or send us filled application form or contact us.
* Our support team will guide you throughout the application process, drafting, service agreement, invoicing and issuance.
Information about SWIFT Services.
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.