Custodial Bank Safe Keeping Receipt (CSKR/SKR)

What is a Bank Endorsed Safe Keeping Receipt (SKR)?

An SKR is another bank instrument that is used as an alternative financing tool. These instruments can be issued from banks, storage houses, or alternative financing facilities.

Types of Monetizable SKRs:

• Fur
• Collectible Art
• Gold
• Above Ground Assets
• Property
• Antiques
• Valuable Documents
• Precious Gems
• Bonds

Those that issue the SKR do not own them, so the asset must be returned if requested. Those that own valuable items can take out an SKR against them. This collateral based banking instrument provides alternative financing to those that need it most. These are similar to LC, Bonds, SBLC, and BG. SWIFT is used at the transfer service, but some need to utilize MT760.

To monetize the SKR is to use this banking tool as cash in a transaction. It depends on the financial institution as to what terms and conditions might apply. The best way to monetize your SKR is to make sure that the title is clear. Next, the term of monetization is generally for a year and one day.

This is considered one of the safest banking instruments because you do not give up control of your asset, and you aren’t moving it. However, any fees that you incur should always be paid out of any proceeds, instead of being handled up front. You do want to be protective of your asset, so make sure that you understand the contract before you arrange a SWIFT transaction.

We Protect Our Client Deposits Fully Through 2 Levels of Protection

You never have to worry about your security with our two levels of protection:

1. A Two Percent (2%) Non-Performance Penalty
   • Two Percent (2%) damage fee will apply to a Party that fails to perform. The 2% shall apply in both cases, either when the Provider has sent a Corporate Invoice which the Beneficiary’s Bank will not respond or pay, and/or when the Beneficiary’s Bank is ready willing and able to receive the BANK INSTRUMENTS and no BANK INSTRUMENTS is delivered from the Providers Bank by SWIFT MT-542 or Bank-to-Bank Courier.
2. A Program to Refund Deposits (all our agreements are Bank Endorsed (confirmable) with full bank responsibility as an insurance wrap).
   • With our agreement with banks, that bank becomes responsible for payment when the transaction becomes complete.
   • When a bank endorsed an agreement, the bank becomes responsible before our company is paid any fees by the client. We are the only Bank Instrument Facilitators in the WORLD that guarantee 100% your initial deposit through bank endorsement before client releases any payment.

This Refund Deposit  Program protects our clients and makes sure that the deposits are completely safe.