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Friday, April 22, 2011

What is a Proof of Funds?

A POF (proof of funds) is a document that shows that an individual or some other entity like a corporation or LLC has the ability and money available to use for a particular transaction.

The Proof of Funds normally comes in the form of a bank, custody or security statement. The purpose of the POF is to ensure that the funds required for the transaction are obtainable and legitimate.

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