In today’s global trading environment, traders are not ready to step into a trade deal without having any kind of assurance in their hands. Sellers are more likely willing to work with buyers who are ready to provide some sort of guarantee to assure their payment and performance. As a result, here comes the importance of having Bank Guarantees. If you are looking to get an MT760 for global trade, watch the video given here or read this blog to know – What are Bank Guarantees, the process to avail BG, and the banks which issue BG MT760.
What are Bank Guarantees?
Bank Guarantee is a written undertaking issued by banks; to ensure the buyer’s commitment to complete a particular project or task on time without any default. Also, it assures that the seller will receive compensation from the buyer; in the event of a breach of contract.
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And also, this MT760 secures the seller from any unforeseen risks involved & gives the required payment assurance. For this reason, sellers demand buyers to support their contract terms by providing an MT760.
How to Get a Bank Guarantee?
Are you going to sign a new contract or trade deal with your seller? Is your counterparty asking for a BG MT760 in their favor? In this case, if you are having a good track record and a credit facility available; then you can get help from banks directly.
Before approving your BG request, the banks will undergo a thorough background check to verify your previous transaction history and credit score, etc. Also, if everything is up to the mark, they will consider your BG request; and then, move on to the next step.
Further, the banks will ask you to provide a certain percent of the bond value as collateral to issue the BG MT760.
Finally, if you comply with all the demands, they will approve your request and start working on your BG request. Of course, the BG issuance process will take approx. 2 to 3 weeks.
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Which Bank Issues Bank Guarantees?
If you have the existing credit line available; or if you are ready to pay the bond value as collateral; then all the banks are always ready to provide the required BG MT760.
In case, if you fail to meet the banking terms, then they will decline your request and you may need to look at other options to get the required MT760.
Here comes the role played by Bronze Wing Trading, the International Bank Guarantee Providers in Dubai!
Bank Guarantee Issuance at ZERO Collateral!
Unlike banks, we will not ask you to provide cash margin or collateral to issue the BG MT760. Also, compared to banks and other private lenders, our paper works are very less & faster approval time! Moreover, with us, you can be able to get the required BG MT760 in less than 48hrs.
To proceed with BG Issuance, contact us today! We facilitate BG MT760 from our list of Rated European Banks at ZERO Collateral!
