Solvency Purpose
Solvency certificate is a document that provides information about the financial stability of an individual/entity.
A solvency certificate is generally issued by the revenue department and banks on request. Banks usually issue this certificate to their customers based on the account transactions and property documents available to them.
A report from a Valuer attesting the property value of the individual/entity also helps in obtaining the solvency certificate from banks. In most cases, the certificate obtained by the customers from their banks is used for submitting tender applications/contracts to government offices.