ICBPO is no longer workable

ICBPO Provider, Genuine Providers of ICBPO, ICBPO is banned, illegal ICBPO, Irrevovable Conditional Bank Pay Orders

ICBPO means (Irrevovable Conditional Bank Pay Orders). ICBPO has been banned and have been made illegal by most governments. BG and SBLC Issuers that continue to ask for ICBPOs as payment are completely out of touch by seeking a form of financial payment that has been made illegal in most countries. Any supplier that requests payment by ICBPO clearly doesnt understand the Bank Guarantee Industry and is an amateur not a professional. You cant be a credible financial supplier and request your customers pay you using illegal means eg ICBPO.

ICBPO Provider, Genuine Providers of ICBPO, ICBPO is banned, illegal ICBPO, Irrevovable Conditional Bank Pay Orders

So why have most governments banned and made ICBPOs illegal?

Answer: When an ICBPO (Irrevovable Conditional Bank Pay Orders)  for 500 Millions Dollars is lodged with a Bank in Country A to “Irrevocably” pay a Bank in Country B. The National Balance of Payments Accounts in BOTH Countries is immediately effected!

Country A incurs a 500 Million Dollar Balance of Payments Debit (Deficit) and Country B receives a 500 Million Dollar a Balance of Payment Credit. This immediately affects BOTH countries National Debt Balance Sheets and can also have an affect on the countries exchange rate because of the sheer size of the transaction.

The the above action occurs immediately when the Bank Pay Order is written because the Bank Pay Order is “Irrevocable” meaning it cannot be cancelled.

The situation gets worse when Bank A issues the ICBPO for 500 Million but Bank B doesnt deliver the Bank Guarantee and defaults on the transaction…. This leaves Bank A unable to cancel their ICBPO or recover their 500 Million Dollar payment for a transaction that did not occur. AND Leaves Country A with a 500 Million Dollar Deficit when no goods or services were transacted!

Most Governments have now recognized the extreme risk and effect ICBPOs have on their economies and as a result they have banned them and made ICBPOs illegal for all parties except for very large specially licensed financial institutions that have been given direct government approval. Those institutions are few and far between and rarely operate in the Bank Guarantee Industry.

So ICBPOs are well and truely off the Bank Guarantee menu! Normal BG and SBLC Payment Guarantees of MT799 have replaced them.

BROKERS: Brokers are the life blood of our business and as a result we respect them, value them and appreciate them. So new brokers are welcomed, appreciated and compensated with good commission. Here are a few of the many benefits of being a MING FONG FINANCE COMPANY LIMITED broker:

 

Ming Fong Finance Company Bank Guarantee, BG, Standby Letter of Credit, SBLC, DLC, Lease BG, Direct SBLC Providers

 

  • Professional Broker Support
  • Healthy Commissions Paid on every Deal
  • Be Direct to the client, NOT in a Broker Chains!
  • Earn between 1% to 2% Commission on Every Deal
  • Brokers are 100% Protected Against Possible Circumvention.
  • Wide Range of Financial Instruments, Bank Guarantee Programs and Client Funding and Monetization Services
  • If you are interested to become our broker or company representative, kindly send us your resume via email for more information.

Email: fong@mingfongfinance.biz  |  mingfongfinance@protonmail.com
Telephone: +852 817 53571
Skype:  mingfongfinance

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