BCL

Jan 9, 2013   //   by Administrator   //    //  Comments Off

BCL means a Bank Comfort Letter
Bank Comfort Letter
Also known as a Bank Capability Letter, or Bank Confirmation Letter, this is a letter from the buyer’s bank, sent through the SWIFT system indicating the buyer’s capability to purchase by confirming that there are funds available to make that financial obligation. It is not guarantee of payment and can not be drawn upon by the seller’s bank. Therefore it is not an actionable banking instrument and is used in the oil business only as a proof of funds.

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