New Zealand, 05 July 2021: Fintrade Tech Solutions Limited (FIN TRADE) trading as Fintrade Financial is a reputable and formidable trade-based financial and business advisory company established in 2013. Fintrade offers services from small to large commercial organizations, businesses, and corporations. This includes business and trade finance along with banking consultancy services. With a credible and compliant standing, Fintrade was accredited and recognized in the industry with registration as a financial service provider on the FSPR Register as a Financial Advice Provider (FAP) and now authorized by the Financial Markets Authority in NZ (FMA). The Company has grown and successfully evolved into a full-fledged business and financial advisory and consultancy firm. Fintrade provides selective services including financial and business consulting, trade funding and finance, and trade credit services. To know more about Fintrade Tech Solutions Limited and its wide range of services, please visit: https://fintradetech.com/

A Letter of Credit (LC) is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It may be offered as a facility. Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade.

A Standby Letter of Credit (SBLC) is a legal document that guarantees a bank's commitment of payment to a seller in the event that the buyer or the bank's client defaults on the agreement. A Standby Letter of Credit helps facilitate international trade between companies that don't know each other and have different laws and regulations. Although the buyer is certain to receive the goods and the seller certain to receive payment.

A Guarantee of Payment is issued by a bank for a client that is called ‘Payment of Last Resort’ if the client fails to fulfill a contractual agreement with a third party. The Non-Performing Letter of Credit, also known as Standby Letter of Credit (SBLC) is developed as proof of good faith in business payments. These documents are also regarded as proof of a buyer’s credit quality and repayment capabilities. The bank responsible in issuing the Standby Letter of Credit also known as Non-Performing Letter of Credit will perform a concise underwriting duty. This will assure the credit quality of the party requiring the Letter of Credit. Thereafter, the bank will send the notification to the bank of the relevant party (a seller or creditor) seeking the Letter of Credit.

An SBLC – Standby Letter of Credit will typically be in force for about one year, permitting for sufficient time for payment to be made through standard predetermined guidelines. SBLC’s are often used in global trade transactions, such as the purchase of goods from another country. The seller will request for an SBLC, which can be cashed on mandate if the buyer fails to make payment by the date specified in the contract. The letter can be negated as soon as the terms of the contract have been met by the purchaser or borrower. This is a written undertaking assumed by an establishment to the person with whom anyone is doing business to pay a detailed amount of money in the event that they or a third party do not meet specific financial or performance obligations.

Fintrade Tech Solution Limited is a reputed and trusted financial trade service provider by its clients. The success is achieved in the effective trade credit and range of ancillary business services that Fintrade offers its discerning clients to meet transactional demands. The Company proves itself on its unrivaled international trade financial reach, professional network, and knowledge base in facilitating business growth. This all adds to assisting in their business, trade credit, and trade finance needs. Fintrade brings on a wealth of successful trading experiences of the past to the present in its representation. The acquired expertise is in a wide range of areas of business and financial services including financial and business consulting, trade funding or finance, trade credit services, and financial technologies.

The Company is committed to offering effective and time-efficient trade financial services in a competitive arena. Fintrade is a high advocate of investing in its clients and human resources with an aspiration to constantly learn and evolve to meeting ongoing business objectives. The Company uses its effective network of experienced professionals, principals, and associates in business, banking, and the financial industry all to the client’s advantage. Fintrade constantly reviews and evaluates the most suitable products and financial strategies to deliver solutions aligned with their customer's personalized business objectives.
About Fintrade Tech Solutions Limited

Fintrade Tech Solutions Limited is a reputable and formidable Trade based financial and business advisory company established in 2013. Fintrade offers services to small and large commercial organizations, businesses, and corporations. The Company has successfully evolved into full-fledged and sought-after trade finance, business advisory, and consultancy firm. This includes business and trade finance along with banking consultancy services. With a credible and compliant standing, Fintrade was accredited and recognized in the industry with registration as a financial service provider on the FSPR Register and authorized by the FMA as a FAP. Fintrade provides selective services including financial and business consulting, trade funding and finance, and trade credit services.

Address & Contact Details

32 Maranui Ave,
EPSOM, Auckland 1051,
New Zealand
Phone: +64 9 5244269
Email: [email protected]