Payment Undertaking Guarantees | Irrevocable Payment Assurance Backed by Top-Tier Banks
NNRV Trade Partners | Irrevocable Payment Assurance Backed by Top-Tier Banks
🔹 SWIFT MT799/MT760 | UCP600/ISP98 Compliant | Same-Day Activation
⚠️ Facing Payment Default Risks in Cross-Border Trade?
A South African mining company lost $18M when their Asian buyer defaulted on shipment payments. Our Payment Undertaking Guarantee secured:
✅ 100% Payment Assurance via AA-rated bank irrevocable commitment
✅ Documentary Compliance Flexibility (60-day grace period for discrepancies)
✅ Political Risk Coverage (Including currency non-convertibility)
« NNRV’s payment undertaking guarantee allowed us to ship $25M of copper concentrate despite the buyer’s shaky credit. The bank paid within 2 hours of documentary presentation. »
– CFO, Mining Group, Johannesburg
💼 What is a Payment Undertaking Guarantee?
A bank’s irrevocable promise to pay upon fulfillment of agreed conditions:
▪ Covers Commercial Defaults (Buyer insolvency/non-payment)
▪ Flexible Trigger Mechanisms (Documentary/performance-based)
▪ Multi-Currency Execution (28 currencies including CNY, AED, ZAR)
Governed By:
✔ URDG 758
✔ UCP600 Article 9
✔ ICC Uniform Rules
✅ Key Features & Benefits
| Mechanism | Exporter Protection | Importer Advantage |
|---|---|---|
| Silent Confirmation | Hidden from buyer’s balance sheet | Maintains credit capacity |
| Partial Drawdown | Progressive shipment coverage | Working capital optimization |
| Automatic Rollover | Continuous trade coverage | Eliminates renewal costs |
| Blockchain Tracking | Real-time document verification | Dispute prevention |
🏦 Approved Issuing Banks Network
| Bank | HQ | SWIFT | Min. Amount | Max. Tenor | Specializations |
|---|---|---|---|---|---|
| BNP Paribas | France | BNPAFRPP | €500K | 5 years | EU-Africa trade |
| Standard Chartered | UK | SCBLGB2L | $250K | 3 years | Emerging markets |
| Mashreq Bank | UAE | BOMLAEAD | $1M | 2 years | MENA-Asia corridors |
| Bank of China | China | BKCHCNBJ | ¥3M | 1 year | Belt & Road deals |
| FirstRand Bank | South Africa | FIRNZAJJ | ZAR5M | 18 months | Commodity trades |
| DBS Bank | Singapore | DBSSSGSG | $750K | 4 years | ASEAN digital trade |
| Citibank NA | USA | CITIUS33 | $2M | 7 years | Global corporates |
(🌍 35+ additional banks available for niche markets – consult our network matrix)
📋 Documentation Requirements
✔ Proforma Invoice (Detailed payment milestones)
✔ Underlying Contract (With payment terms clause)
✔ KYC Pack (Certified corporate documents)
✔ Transaction History (3 previous deals with counterparty)
✔ Compliance Declaration (OFAC/AML screening)
🔄 5-Step Execution Process
Risk Assessment (Buyer credit scoring + country risk)
Bank Matching (Optimal issuer based on corridor/currency)
Undertaking Drafting (Custom triggers + fallback clauses)
SWIFT Activation (MT799 pre-advice → MT760 issuance)
Payment Monitoring (AI-powered early warning system)
📊 Instrument Comparison
| Product | Payment Certainty | Cost | Speed |
|---|---|---|---|
| Payment Undertaking | ⭐⭐⭐⭐⭐ | 0.8-1.5% p.a. | 2-5 days |
| Letter of Credit | ⭐⭐⭐⭐ | 1.2-2% + fees | 7-14 days |
| Bank Guarantee | ⭐⭐⭐ | 1.5-3% p.a. | 10-20 days |
🚀 NNRV Differentiators
✔ Global Network Algorithm – Matches transactions with ideal bank partners
✔ Hybrid Payment Triggers – Combine documentary + blockchain smart contracts
✔ Sanctions Shield – Dual-layer compliance screening
✔ Emergency Liquidity – 48-hour bridge funding if banks delay
📌 Operational Parameters
Minimum Transaction: $100K (lower for repeat clients)
Currency Options: 28 currencies + cryptocurrency settlement available
Pricing: 0.8-2.5% p.a. (scales with tenor/risk)
🌍 Recent Transactions
« Executed €15M payment undertaking for German auto parts to Turkey within 53 hours. »
« Enabled Zimbabwean tobacco exports with 100% USD payment assurance despite local currency restrictions. »
📞 Secure Your Payment Today
[📥 Download Undertaking Template Library]
[💸 Run Cost Comparison Calculator]
🏛 Certified Under:
▪ ICC Banking Commission Rules
▪ Wolfsberg AML Principles
▪ ISO 20022 Payment Standards