4 All Trade consulting your partner in financial transactions !
4 All Trade consulting is here to advise you, guide you and help you through some steps in the world of financial transactions which are not always so obvious.
In the financial world there are some terms which are used and are not always as clear.
What is a BG/SBLC ? Answer :BG and SBLC.pdf
What is an SKR ?Answer :SKR = Safekeeping receipt
This is typically issued by a bank where you keep your gold or precious stones, such as diamonds on deposit. They only issue them after they have reeived proof of ownership and a copy of the certified appraisal ofthe bullion. i.e. a bank is vouching for your ownership of the gold.
What is a bankdraft ? Answer : bankdraft.pdf
What is the SWIFT messaging system?
S.W.I.F.T. ("Society for Worldwide Inter-bank Financial Telecommunication") provides mechanisms for electronic inter-bank messaging and funds transfer. SWIFT messages are used legitimately to conduct business between transactional partners. The SWIFT system was established in the early 1970's by a group of European banks who until that time had been conducting business together via telex and courier.
SWIFT provides for a number of different message types and purposes. Each type of SWIFT message is pre-defined and follows a specified format. All SWIFT messages must adhere to these established forms or they will be rejected by the receiving bank. There are nine (9) SWIFT message categories with multiple message types in each.
View SWIFT message types here : SWIFT_Categories_Types_Descriptions.pdf
What is an MT103 ? Answer :MT 103.pdf
What is an MT799 and an MT760 ? Answer : MT760 and 799.pdf
example of an MT 799 :
example of an MT 760 :MT760 format.pdf