What is Advance Payment Guarantees Letter? Advance Payment Guarantees is a written undertaking issued by a bank as a kind of assurance. Also, this bond assures the buyer that in a case, if the seller fails to meet the agreed obligation of goods or services. Accordingly, the advance payments made will be refunded to the buyer.
In the account of today’s scenario, almost all contractors & sellers require a certain percentage of the total project value as advance payments. And this is to meet the initial phase cost of the project or trade deal. But to provide the advance payments, the buyer or the project owner may demand the seller or the contractor to provide a Payment Bond in their favor.
Moreover, to get such types of bonds on the company’s behalf, contractors and sellers contact their bank with their bond requests. But to issue such bonds, the banks will demand from the contractor or seller to provide a certain percent of the bond value as cash margin. Due to the lack of cash margin and not need to the working capital, many contractors and sellers don’t wish to provide cash margin. Further, in such cases, they can’t be able to get the required Bank Guarantees from their bank.
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Do You Require Advance Payment Guarantees Letter?
Are you the one looking to get a Letter of Guarantee without blocking your cash funds? Contact Bronze Wing Trading L.L.C., the genuine Bank Guarantee Providers in Dubai. Further, with more than 3 decades of experience in providing Bank Guarantees on behalf of contractors and sellers, we assure you that we will be able to provide such MT760 on your company’s behalf without blocking your working capital.
How to Get an Advance Payment Guarantee Letter?
So, how to get Advance Payment Guarantees from us? Follow the simple step-by-step process mentioned below to apply the Payment Bonds.
- Firstly, you can visit our website to submit your requirement. Or else, you can also send us via email.
- Secondly, our team will undergo a detailed study on your bond request. Also, we will let you know if your request is approved.
- Further, if approved, you need to sign the service agreement with us. Then, you need to pay the service charges.
- Then, we will start structuring your Payment Bond with our bank by blocking our bank limit.
- Further, we will send the MT760 draft for your review and approval.
- After draft approval and the issuance fee charges are paid, we will process your request with our bank. Finally, we will issue the required Bank Guarantees in favor of your project owner / buyer; via SWIFT MT760.
Get Advance Payment Guarantees Letter from Us!
Are you the one looking to avail MT760 Guarantees, but didn’t wish to unlock your working capital? No worries! Submit your Payment Guarantee request to us! Instantly, we will structure your deal and will provide the required MT760 from our Good Repute Bank account.
