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Bank Comfort Letter BCL<\/strong> commonly referred to as a BCL is typically used in a commodities transaction to demonstrate the financial capability of the buyer. It is also sometimes referred to as a Bank Capability Letter. A BCL is one type of a Proof of Funds (POF) which can be furnished by a buyer or requested by a seller to complete a transaction. Various other types of POFs such as SWIFT messages, or a MT 799 SWIFT message may be utilized for the same purpose.<\/p>\n BCL<\/strong> is issued by a bank on behalf of their customer who has entered in a contract to purchase huge merchandise\/commodities from a supplier confirming their financial capability to carry out the transaction. It also shows that the buyer has sufficient funds or financially capable to complete the business deal. However, it should be clear that the Bank Comfort Letter does not mean any assurance of payment.<\/p>\n BCL<\/strong> is a statement of fact not a financial obligation or commitment given by a bank. BCL is not at all equivalent to a Letter of Readiness (RWA). BCL is merely an authenticated swift message from the buyer\u2019s bank that confirms financial capability of the buyer in terms of cash or credit facility, to pay for the goods they want to buy.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/3″][vc_column_text css=”.vc_custom_1712661655059{padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 20px !important;padding-left: 15px !important;background-color: #677ea1 !important;}”]REL Investments Group offers a wide range of consulting services for clients seeking to raise financial instruments are widely used in international practice.<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>","protected":false},"excerpt":{"rendered":" [vc_row el_class=”main-slider”][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=”Bank Confirmation Letter (BCL)” font_container=”tag:h2|text_align:left|color:%23677ea1″ use_theme_fonts=”yes”][vc_row_inner][vc_column_inner el_class=”bordered-block” width=”2\/3″][vc_column_text] Bank Confirmation Letter (BCL) Bank Comfort Letter BCL commonly referred to as a BCL is typically used in a commodities transaction to demonstrate the financial capability of the buyer. It is also sometimes referred to as a Bank Capability Letter. A BCL is one type […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":865,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1025","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/pages\/1025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=1025"}],"version-history":[{"count":7,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/pages\/1025\/revisions"}],"predecessor-version":[{"id":1297,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/pages\/1025\/revisions\/1297"}],"up":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/pages\/865"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=1025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}