Proof of Funds is official notice that funds are in a bank or brokerage account in your name or your business name to let others know that you are ready to pay for goods and services if they meet your specifications and requirements.
We have funds in major banks and brokerages and can have these institutions officially show funds for up to $2 billion. The funds are blocked so you CANNOT spend the funds. If you need funds you can spend – Proof of Funds (POF) is NOT the program for you.
Many manufactures will not ship large bulk or cargo & freight loads of their products unless you provide Proof of Funds to show that you can pay for the merchandise when it arrives. You, as the importer, would then use your client’s money to pay for the merchandise like how a toy store would pay for a truckload of toys when it arrives.
- $1 million to $2 billion
- Verification of Deposit and Bank Statements
- SWIFT MT-760 / 799
- Stand By Letter of Credit / Bank Guarantee / Certificate of Deposit
- Money Market funds seasoned for up to six (6) months
- Funds in an account under your name and signature
- No Credit Check, Financials, or Credit Score Required
Proof of Funds are used extensively for importing products (gold, silver, oil, etc.) and for purchasing real estate such as bulk REOs.
As a caveat, it is prudent to use Proof of Funds providers who keep your fees in insured escrow accounts or else you risk losing those fees and getting nothing in return.
Here a re few sites that may be useful to you. Thanks for stopping by.
BBC - Inside Out - South East - You Controlling U
F.B.I. Struggles to Handle Financial Fraud Cases - NYTimes.com
Hard money loan - Wikipedia the free encyclopedia
GE Capital Upgrades Online Inventory Management Options - WSJ ...
Who has any input on how best to solve this problem? - Yahoo ...
repurchase agreement: Definition from Answers.com