FREQUENTLY ASKED QUESTIONS
SCALING-UP PRIVATE SECTOR CLIMATE FINANCE
The transition to a low-carbon world requires substantial investments – which can only be financed through a higher level of private sector involvement.
Scaling up private financing is vital – so how best to support the process?……
Trade Tutorials – Import Trade Finance
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Stock Broking – Gilts & Bonds
West Capital Markets offer investors advice on buying stocks and shares on all major indeces – but the final investment decisions are left to the client, the client retains control over each and every investment decision. Unlike other stockbrokers, WestCap advisory services does not require a minimum portfolio size from clients. The combination of advice and dealing services ensures that private clients enjoy the quality of research and services mostly reserved for institutional clients.
Corporate Finance – Mergers & Acquisitions
West Capital Markets is driven by success. Success for our clients in achieving their acquisition, exit and financing strategy and success for ourselves in establishing a position as the leading corporate finance team committed to the main and mid-market.
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Dont Be Fooled By Financial Jargons
New Letter of Credit Rules Call for Careful Review
by David F. Scranton
On Oct. 25, 2006, the International Chamber of Commerce (“ICC”) announced adoption of new rules for commercial letters of credit: the Uniform Customs and Practices for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600 (“UCP 600”).1 These new rules will become effective July 1, 2007 and will replace the existing ICC rules for commercial letters of credit, known as Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (“UCP 500”). Issuers need to review the new rule changes, consider alternative rules available to govern letters of credit, and modify their policies and procedures accordingly.
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BANK GUARANTEE EXPLAINED
A bank guarantee is a pledge on the part of a bank to make someone’s debt good in the event that he or she cannot pay it. These types of guarantees are essentially like agreements to stand as a cosigner on a transaction; in the event that the original party cannot follow through, the bank can be called upon to provide the payment. Many banks offer bank guarantees as a service to their customers for the purpose of facilitating large business operations and deals, and this particular banking tool is primarily used by big customers such as corporations and governments.
Anatomy of Documents under the Microscope of UCP 600
By Ravi Mehta, Ph.D.
The UCP tells bankers to determine compliance with the LC on the basis of examination of the documents alone, which the LC calls for presentation. The UCP has codified standard for examination of the documents, which the bankers must observe to determine whether or not the documents appear on their face to constitute a complying presentation.
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ADVANCE PAYMENT GUARANTEE
An advance payment guarantee is a form of protection that makes it possible for a buyer to recover any advance payments extended to a seller in the event that the seller fails to abide by the terms and conditions that govern the purchase of goods or services. A guarantee of this type may be used in a number of situations, including deals where goods are imported or exported. It is also used with domestic transactions, such as the purchase of heavy equipment, construction projects, or even large lots of retail goods.