Bank Draft

What is a Bank Draft

A bank draft is a payment instrument that guarantees the funds by your financial institution. It also is known as a banker’s cheque. In simple terms obtaining a bank, the draft is similar to asking your bank to write a cheque for you. The draft will enable you to make payments without having to withdraw money from your account. Here the bank will transfer the amount to an account of the bank issuing you the bank draft which the receiver of the money can use to collect money with. With this, the receiver won’t experience check bounces due to a lack of funds in the account.

Bank Draft with Us

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Benefits

A Bank guarantee is a guarantee issued by a bank or a financial institute to reduce risks in transactions for both parties involved in the transactions in case of a contract breach. In an event of a contractual obligation of the seller/ exporter or a payment obligation to the seller/importer, the bank or the financial institute guarantees to indemnify the recipient against the contractual obligations of the exporter or the importer. With this, the risk factor will be reduced drastically for both parties in a contractual agreement while encouraging the transaction to proceed effectively.

Most Trusted Bank Draft Services

Obtain your bank guarantee for your next big transaction from a reputable trade finance company in the UK for reasonable service costs. Our experts will help you get your bank guarantee fast causing you the minimum hassle.