SKR
SKR, or Safe Keeping Receipt, or Safekeeping, is where an asset owner elects to place that asset in the care of an Agent, usually a Bank or a Financial Institution and receives an acknowledgement from the Bank as to their “Safekeeping” of that asset. The asset owner may elect to have such an acknowledgement sent to a third party. A fee may be required for these services.
Definition of Safe Keeping Receipt: the storage of assets or other items of value in a protected area.
Individuals may use self-directed methods of safekeeping or the services of a bank or brokerage firm. Financial institutions are custodians and are therefore legally responsible for the items in safekeeping.
The various assets that can be held in such arrangements range from share, stock or bond holdings to Real Estate Titles, Precious Metals among others. The owner of an SKR may monetize this instrument much like an SBLC, LC, Bond or BG and use these funds as an alternative funding source for projects. Our SKR’s are capable of SWIFT transfers.
Individuals who place an asset in safekeeping are also issued a safekeeping receipt. These receipts indicate that the asset of the individual does not become an asset of the institution and that the asset may be returned to the individual upon request. A fee may be required for these services.
CUSIP and ISIN numbers, can, in some instance, be positioned to SKRs. However the process is quite tricky and not all would qualify.