Proof of Funds

 

proof of funds (POF) or Blocked Funds- Kingrise Finance Limited

Are you looking for proof of funds (POF) or Blocked Funds for investments, trading finance or buy sell transactions?

What is Proof of Funds (POF)?

Proof of funds (POF) refers to a document that demonstrate a person or entity has the ability and funds available to carry out a specific transaction. Proof of funds usually comes in the form of a bank statement. The purpose of the proof of funds document is to ensure that the funds needed to execute the transaction are fully accessible and available.

Uses of Proof of Funds (POF)

When a company or individual is making a large purchase, such as buying a home, or to purchase a bank guarantee etc, the seller usually requires proof of funds. This ensures not only that the buyer has the money available to make the purchase, but also has legal access to the funds, as the proof of funds comes from a verified authority, such as a bank. Particularly for the purchase of a home, the seller and/or mortgage company wants to see if you have enough money for the down payment and the closing costs.

Why Is A Proof Of Funds Required To Buy Real Estate?

The Proof of Funds is required to buy real estate so that deals close with a higher percentage because the buyer has proven they have (or have access to) the funds to close the deal. See, real estate agents and sellers do not like working with jokers & amateurs who do not have the financial ability to close a deal. This is a big waste of time for everyone. I mean think about it for a second, would you accept offers from people who do not have any money to buy the home? Of course, you wouldn’t because they have no money!

The above scenario is also applicable to bank instrument transactions such as bank guarantee (BG) / standby letter of credit (sblc) transactions. Most times, we receive applications from people who claim they need BILLIONS OF DOLLARS and sometimes TRILLIONS of dollars BG/SBLC/SLOC. Most times, there are people who do not have up to $10,000 of their own money, but somehow they think, assume or believe that they can close such massive transactions free of charge without spending any money. 

So in most cases, if we receive an application for lease bank guarantee or lease sblc, if the requested bank instrument face value is large, we will request Proof of Funds (POF) from the customer to make sure that he has funds readily available in his bank account to close the deal. No doubt, this is the surest and simplest way to differentiate serious clients from jokers and time wasters.

It's important to note that in the majority of instances, the proof of funds must refer to liquid capital, primarily cash. Certain investments, such as retirement accounts, mutual fund accounts, and life insurance, do not qualify as proof of funds.

Requirements of a Proof of Funds (POF) Document

When providing a proof of funds document, there is certain information that is required to be included. The following are some of the most common pieces of information that will need to be disclosed on a proof of funds document:

• Bank's name and address
• Official bank statement
• Balance of funds in the checking and savings accounts
• Balance of total funds
• Signature of authorized bank personnel

If the funds you plan to use for the purchase are spread across multiple accounts, you will need this information for all of them. It may be easier to move all of your funds into one account, therefore having to provide this information only once, and making the total amount of funds available easier to follow. It is possible to get a proof of funds document within a day or two from most banks and financial institutions. We will not accept a proof of funds that is more than 3 weeks old prior to signing the contract.

Are you looking for proof of funds (POF) or Blocked Funds for investments or trading?

You can have access to amounts between $500,000 to $2 Billion. The blocked funds will be set up in a bank account with your name or company name as the beneficiary and the funds will be available world Wide.

Kingrise Finance Limited provides Proof of Funds, mt799 blocked funds to our clients for credit enhancement purposes. Blocked funds are in an account with the client listed as the funds owner or beneficiary for a pre-determined amount of time.
These can be:

• Bank Comfort Letters (BCL)
• Bank statements
• SWIFT MT799
• SWIFT MT760
• SWIFT MT199
• Bank Guarantees
• Stand By Letter of Credit (SBLC)
• VOD (1006)
• Escrow Accounts (with major escrow companies)

It is important to understand that this is not a loan and the money will never move from the account. It is blocked, but free and clear.

You receive Verification of the funds and proof that the funds are yours (for verification purpose only). There are different ways to verify those funds. Some banks or financial institutions let you go to your local bank or branch. Some have a dedicated National 800 number, while others use online services.
The cost for this service varies according to the POF amount, the type of account as well as the length of time needed to show the funds.

We must be satisfied with your capacity to pay the up front fee for providing Proof of Funds (known as the Arrangement Fee). Payment of the Arrangement Fee in the form of a “success fee” is neither possible nor acceptable. You pay nothing, you get nothing.

Any use including: Net worth Requirement Facilitate buy / sell arrangements Show of Down payment to get REO offers accepted Bond Requirement Proof of Liquidity Proof of Collateral Reserved or Blocked funds for investments Minimum of only 1 month with discounts for multiple months. Kingrise Finance Limited brokers are paid handsome commission for referrals!
Proof of Funds Program Highlights: Accounts available from $1m to $2 billion Money Market funds seasoned for six (6) months No Credit Check or Financial Statements Required Funds in an account under client’s name and signature	FAQ: 30 & 60 day accounts, with discounts provided for renewal terms Standard bank Verification of Deposit provided for all accounts Bank accounts opened and confirmed in writing by bank officers SWIFT MT799/MT760 confirmation option available in Offshore Banks Kingrise Finance Limited brokers paid for referrals

Program Highlights

Proof of Funds Program Highlights: amount available ranging from $500K to 200 + billion. Funds seasoned for up to six (6) months. Rates starting at 2% per month. 30, 60 & 90 day accounts, with discounts provided for renewal terms. You  have access to the paperwork in less than 24 hours after confirmation. Funds in an account under your name and signature. Types of accounts: Domestic Brokerage Firm: Domestic Banks: Brokerage Accounts Prime Western Europe Banks: Domestic Hedge Investment (NON BANK) Types of confirmation Standard verification of deposit (VOD): the customer faxes over a form to the financial institution. They then look up the account information, and fill out a standard form. Bank-to-bank electronic confirmation. All accounts require full client disclosure and are opened in strict compliance with the provisions of the International Money Laundering Regulations and the US Patriot Act.

Kingrise Finance Limited is the worlds leading provider of bank instruments. We are incorporated in Hong Kong since 22-September 1999 as a Government Licensed Money Lender with Incorporation No.: 0689078. 

We are worlds leading provider of Recourse Loan, Non Recourse Loan, Project Financing and Bank Financial Instruments Specialists such as Standby Letter of Credit Funding, Bank Guarantee, Performance Guarantee Bond, Tender Bond Guarantee, Advance Payment Guarantee, Bank Comfort Letter, BG/CD/BD/BCL/DLC/LOC/SLOC/SBLC etc.

 

Our bank instruments, bg and sblc/sloc are issued from prime banks such as Barclays Bank London, Standard Chattered Bank, HSBC Hong Kong or any rated AAA bank of your choice. All our financial instruments are Cash-Backed and can be used as collateral to secure funding for projects, Discounting, Monetization and Private Placement Programs (PPP).

   Why Choose Us?

• Fast Turnaround
• Best Top Rated Banks
• Competitive Low rates
• No prepayment penalty
• 2 Days for Commitment
• Extremely Satisfied Clients
• WE KEEP OUR PROMISE
• 20 Years of Experience & Trust
• No Personal Collateral Required
• Solutions for every customer & every industry.
• Loan amounts from $1 million to over $500 million
• Fast Approvals & Fast Funding- Closing in as little as 5 days

BROKERS: We welcome new brokers who are direct to their client. New brokers are welcomed and are rewarded with 2% commission on every deal they bring to us. 

Kindly contact Us today for all your funding needs, including business loan, sme Loans, project financing, Lease bg, Lease sblc, Bank Guarantee Provider

Website: www.kingrisefinance.com
Email: info@kingrisefinance.com