Bank Confirmation Letter (BCL)

A Bank Confirmation Letter (BCL) is a letter issued by a bank (usually the buyer’s bank); confirming that the account holder (buyer) has sufficient funds to enter a specified business transaction. The BCL might be on the name of a second party (usually a specified seller). Or it also can be on the name of the first party holding the money on account

A SWIFT MT199 or MT799 is a SWIFT message from the buyer’s bank to seller’s bank; confirming that the buyer has sufficient funds to enter a specified business transaction. It might indicate the blocked funds for the transaction for a specified period of time. MT799 is a much stronger commitment than MT199.

A Soft Probe Authorization is an authorization from one party (usually the buyer) to another party (usually the seller) to contact the first parties bank to obtain information about funds on the party’s account.