GIFA Financial Instruments provides expert international trade services designed to improve our client’s business. By thoroughly understanding your financial situation and letter-of-credit transactions, our team of specialists are able to:
Our Back to Back (BBLC) Irrevocable Letter of Credit (IRLC) system is offered once we receive a letter of credit from the purchaser. The (BBLC) (sometimes referred to as the Baby or Slave LC) is issued on the strength of the Master Letter of Credit (Master LC) issued by the purchaser.
Our (IRLC) are non-negotiable. The issuing bank must reimburse the beneficiary or any bank nominated by the beneficiary. In some agreed cases, the letters of credit are also transferable. The beneficiary has the authority to assign another entity such as a corporate parent or even a third party.
Because the two letters of credit are linked and dependant on one another, they are referred to as back-to-back letters of credit. Back-to-back letters of credit typically mirror each other, that is, they have the same shipping, inspection, and other identical terms. In this regard, the first letter of credit becomes the collateral for the second letter of credit.
Our irrevocable letter of credit is an instrument to reduce risk. It essentially substitutes the bank's credit with the customer's credit and helps facilitate international trade. Beneficiaries may also view a letter of credit as proof of a purchaser’s bank line of credit. Back-to-back letters of credit ensure payment.
Our Trading helps clients run and transform their front, middle and back-office trading operations. We provide buy-side, sell-side and market infrastructure firms with a full-service offering, including systems integration and technology consulting services, to assist in delivering high performance trading and settlement capabilities across all asset classes. This includes strategy, architecture design, operating model work, process improvement, systems building and trading p