Question
[nb: these are just a couple of examples of questions we receive all the time to provide a guarantee for investor funds/letters of credit]
A) We have an inquiry for a project in South Korea building a railway system...The prospect hopefully will have the finances lined up but is looking for a way to insure or guarantee the investors' funds, assets, or project, and a way to attract more U.S. investors. Can you help?
B) Our company is in the process of obtaining a letter of credit in order to purchase a hotel in Prague. In order to complete the process, we require a loan or financial guarantee for the amount of the L/C. Does your company offer this?
Response
In both cases, we would have to respond, "no". As a Canadian insurer, we are bound by the rules and regulations of our own country. Please note that Canadian insurers are restricted from offering this type of guarantee.
