Recent statistics revealed that nearly 80%-90% of traders mainly depend on trade finance for financing their imports and exports. These bank instruments not only help them to conclude their deals but also, helps to mitigate the financial risks involved.

Importance of Global Trade Finance

When it comes to import and export, trust is the main factor that acts as a glue between buyers and sellers. If the importer pays the full amount for the goods before it gets delivered, then they may be at greater risk if the received goods are not of good quality & are not delivered as per the agreed contract. Likewise, if an exporter distributes or supplies the goods without getting the payment in advance, then the exporter is taking the risk that the importer or buyer may or may not pay the right amount at the right time. To overcome such financial risks, a Letter of Credit used as the payment term for import deals.

5 Step Letter of Credit Process – Apply Now

What is a Letter of Credit?

Letter of Credit acts as the payment undertaking issued by a bank upon their client’s request. Import LC issued on behalf of buyers and in favor of sellers assures that the seller will receive the payment for the supplied goods. And also, assures the buyer that their payment will be released by the bank only after the buyer received the goods at their port. By doing so, the financial risks associated with global trade will be mitigated.

How to Get Global Trade Finance?

Do you require a Letter of Credit, SBLC, or any other bank instruments for your import-export deal? You can get help from us! We, Bronze Wing Trading, the Trade Finance Provider in Dubai support traders who don’t have enough cash funds or credit lines to avail Global Trade Finance from their banks. We extend our credit lines for SMEs to support their global trade dealings. Unlike banks, there is no need for cash margin or collateral to get LC at Sight, SBLC, and Bank Guarantee from us.

Contact us today with your trade finance requirement and get a FREE Quote within 24hrs!r trade deals!

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Fill out the LC Application Form – Submit Now!

What is Letters of Credit?

Letters of Credit is basically an undertaking by a bank on behalf of the buyer which assures payment to the seller within a specified time, against the presentation of documents strictly in compliance with the terms stated in the issued MT700. Nowadays, LC has become a vital aspect to safeguard the trade transaction, due to differing laws in each country and the risk involved in dealing with unknown parties.

Letters of Credit is also called LC MT700, DLC, & LC at Sight. LC works in favor of both buyer & seller. By using LC as the payment term, the seller gets assured that if they present the documents on time as stated in the issued LC, then they will receive the payment for the supplied goods without any default. On the other hand, the buyer is assured that the bank will release the payment only after the thorough valuation of the presented shipping documents. So, using MT700 reduces the risk of paying the supplier without receiving the goods.

Documents Required for LC Application

To start work with your LC application, you need to keep the following documents in hand:-

• Pro-forma invoice or signed SPA of your trade deal
• Copies of Company Registration, i.e., Trade License, or Company Incorporation Certificate
• Latest 6 Months Bank Statement
• Passport Copies & Utility Bills of the Authorized Signatory to prove Residence and Company Address

Contact Us with Your LC Request – Click Here

If you have all these documents in hand, then you can move on to the next step of LC opening. Also, if you contact your bank to open LC, along with all these papers, your bank will demand a 100% cash margin to proceed further. In case, if you don’t have enough cash funds to provide a cash margin, then your request will be declined.

But, we are here to support you by getting your LC request approved in 24hrs!

LC Application at ZERO Collateral

Even if your bank declined your LC request, we can provide LC from our bank account with reputed banks at ZERO Collateral. All you need to do is – Submit your MT700 request to us along with the proforma invoice or SPA of your trade deal. Then, our team will review your request & come back to you with a Free Quote.

If you are ready to move ahead with our proposal, we will start working on your LC transaction with our bank. Further, we will provide the DLC issued in 48 working hours from our bank accounts. Unlike banks, we will not ask for any cash margin. We can extend our own facilities available with European Banks & will provide the DLC on behalf of your company at minimum service charges.

Contact Bronze Wing Trading L.L.C., the LC Providers in Dubai to discuss your LC requirement in detail!de your trade deals!

The post How Can I Get My LC Application Request Approved? appeared first on Bronze Wing Trading llc.

Do you have an urgent requirement for Sugar to meet the demands of the local market? Have you found a supplier from Brazil? And is your supplier asking you to prove your financial strength to get an assurance that you are capable to pay for the supplied goods? Using SWIFT MT799 – Letter of Comfort will be the right choice for you; as it shows your credit strength to your supplier.

Importance of SWIFT MT799

For instance – If a buyer wants to purchase bulk commodities from a supplier; then, they need to prove their financial strength by showing a Letter of Comfort from their bank. Further, this Comfort Letter shows that the buyer has enough funds available in their bank account to proceed with the importation of bulk goods. Accordingly, after reviewing the MT799, the supplier will forward a POP (Proof of Product) to the buyer’s bank. And then, this acts as proof that the products are readily available for shipment.

Finally, after the receipt of POF and POP, the supplier and the buyer will sign the contract; and then proceed with the conclusion of the trade deal. Further, with MT799 as a proof of fund, you can either apply for an LC MT700 or a Standby LC – SBLC MT760 as per your requirement.

Get BCL MT799 without Blocking Cash Funds – Apply Now!

How Can I Get a SWIFT MT799 Message Issued?

If you’re in need of a Bank Comfort Letter to proceed with your import contract, you have 2 available options. That is – the first is contacting your bank and the next is getting help from Trade Finance Providers in Dubai to get the required MT799.

Usually, banks will not issue MT799 without any kind of collateral. That is, to get BCL MT799, you need to provide a certain kind of security, or you need to block your cash funds. In case, if you don’t want to block your cash funds; or else, if you don’t have any collateral in hand to provide your bank, then, contact us today! Therefore, we can assist you by providing the required MT799 without holding your cash funds.

How We Can Assist You With your BCL Request?

Being a leading Trade Finance Provider, Bronze Wing Trading in Dubai facilitates the required Bank Instruments at ZERO Collateral by using our own trade finance facilities available at European Banks.

Submit your BCL – SWIFT MT799 request to us & get proof that you are financially stable to conclude your trade deals!

The post How Does SWIFT MT799 Works? appeared first on Bronze Wing Trading llc.

For example: Imagine you are a buyer of rice in Dubai; who buys rice from India and sells it to local buyers. If you have an urgent demand for rice to be imported from India. In this case, where you will find the money to conclude this import? Further, how you will find the right financial support for your deal? Also, how you will secure your imports from trading risks?

This is where Trade Finance comes in! With the use of trade finance services, you can grow your business; without unlocking your cash funds!

Further, today, as imports and exports of goods have increased; traders are flocking around the banks to get fiscal support for their import and export deals. Are you looking to get trade finance support for your import deals? Get collateral-free Trade Finance from us within 48hrs!

Submit your Trade Finance Request to Us!

Types of Commodity Trade Finance

With more than 80% of the worlds’ trade depends on trade finance. Bank Instruments play a vital role in imports and exports. Moreover, there are different types of financing options available. Besides, all the below listed are used mostly by traders, when it comes to global trade.

• Letters of Credit
• Standby LC
• Bank Guarantee

These Bank Instruments are designed to perform import and export in a safe and secure way without facing any trading risks. Also, here, banks act as a guarantor. Hence using Trade Finance assures the counter parties that the payments & other terms will be fulfilled without any default.

How to Get Commodity Trade Finance?

To get trade finance for your imports, you can contact your bank with your request. And then, if you have enough credit facilities available in your bank; further, if you are ready to provide cash margin; then your bank will help you to get the required instrument.

But, amid the global crisis, banks are scaling back from issuing fiscal support for their clients. On the other hand, the demand for goods are increasing. And so, traders are looking for other options to get trade finance support to do imports & earn profits.

Since we understand the demand for trade finance among traders, Bronze Wing Trading, the Trade Finance Providers in Dubai extend our own credit lines available with Good Repute Banks to facilitate the issuance of LC, SBLC & BG MT760.

Contact us today to find out how we can support your import deal by providing commodity trade finance!

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A lot of traders and contractors are struggling to achieve good financial stability to sign new contracts and trade deals. For this, they used to look for banking services that can help them. Fortunately, banks and other lending providers are available to provide different types of Bank Instruments on their behalf. Further, one of the most popular trade finance services that traders and contractors mostly use to expand their business is a Letter of Guarantee. Here we are going to discuss – What is Bank Guarantee and How Does It Work?

How Do Bank Guarantees Work?

When it comes to trade transactions, traders who are dealing with overseas business partners require some sort of guarantee to secure their deal from payment and performance risks. Here comes the importance of availing BG MT760. Also, traders mostly preferred to use BGs; because banks work as a guarantor of the transaction.

Get Bank Guarantee in Just 2 Days – Apply Now!

For example: If a buyer wants to purchase $3 million worth of machinery from an overseas vendor. Then the buyer needs to provide an MT760 to cover the payments; before the shipment of equipment. Via this BG MT760, the issuing banks assure that the buyer will make the payment to the seller; once they receive the shipment. Further, it also assures that in case of any default by the buyer in terms of payment; then the banks will pay the liabilities.

Having BG reflects the confidence of the bank in the buyer’s business; also, which indirectly bonafides the soundness and credit status of the buyer. Further, when two new parties going to enter into a contract for the building construction or for the supply of goods; they both were skeptical about the performance of the party; they are going to deal with. In such cases, having Bank Guarantee in hand will give peace of mind to both parties that their deal will be concluded successfully.

How to Get Bank Guarantee?

Anyone who has a good financial record can apply for BG MT760. They can contact their bank to avail BG on their behalf. Before approving the BG request, the bank will do a thorough check of your previous banking history, and credit score, and so on. In certain cases, banks will demand the buyer to provide security to cover the BG value. Once the bankers are satisfied with all the criteria; then only they will provide the approval required for BG issuance. And usually, all these processes will take weeks or even months to complete.

In case, if you are looking to avail BG MT760 for your trade deal in hand; also, if you don’t want to block your cash funds to obtain a Letter of Guarantee? Then get help from us!

We, the International Bank Guarantee Providers in Dubai are always here to assist you with all your BG needs. Unlike banks, there is no need to block your cash funds to get MT760.

Submit your BG Requirements to us & get the Letter of Guarantee in less than 48hrs.

The post What is a Bank Guarantee and How Does it Work? appeared first on Bronze Wing Trading llc.

What is Letters of Credit?

Letters of Credit is the most popular international payment term which often used by traders to secure their global trade transactions. It is an irrevocable written undertaking issued by a bank on behalf of buyers to give payment assurance to the seller. Further, this LC ensures the seller that they will receive the payment, once they submit the documents to their bank as per the LC terms. Since banks release the payment only after the seller ships the goods, it assures the buyer that they will receive the goods, as per the agreed contract.

Further, as it assures both buyers and sellers in terms of payment and performance; LC is the most demanded trade finance instrument in the trade industry.

Open Letter of Credit from Good Repute Banks – Apply Now!

How to Get Letter of Credit from Bank?

As explained above, your bank is guaranteeing the payment towards the seller on behalf of your company. So, for this, in turn, banks will demand a certain guarantee from you in terms of cash margin or collateral. Usually, a certain margin amount will be blocked in your account to make the payment to the seller, once the goods are shipped. Also, this margin amount is purely based on the LC Value you required and also your relationship with your bank.

Further, in case, if you’re a new account holder and banks didn’t aware of your financial status means, it will not approve your request to open LCs. Also, to open the LCs from your bank, you may have a good relationship with a banker for many years; also they should know your capital and fixed assets.

For instance, if you were unable to meet the banking terms means, your LC request will be declined by your bank. And as a result, there is a chance of missing the trade deal which is yet to be signed.

So, to help traders who face issues in opening LC from their banks, we are here to help!

LC Process – Letter of Credit from Banks

Being Letters of Credit providers in Dubai, we assist buyers to conclude their trade deals without facing any issues by providing DLC from our bank account. We maintain a good relationship with our bankers for decades, and the bankers are well aware of our fixed assets. So, we can extend our bank facilities available in our bank account to open DLC on behalf of your company. Also, to provide LC, we will not demand any cash margin or collateral from your end. Moreover, our DLC Process is very easy and simple.

Submit your LC requests to us today and avail Letters of Credit from Good Rated Banks within 48hrs!

The post How to Get Letter of Credit from Bank to Import Goods from Overseas? appeared first on Bronze Wing Trading llc.

Yes…. Letters of Credit can be a token of advance as it guarantees payment. But in order to get the payment, your DLC should comply with certain Letter of Credit Terms and conditions. Further, to ensure this, it’s a must to review the LCs, once you received it. i.e. before you ship your goods.

Here, we have come up with a checklist that will help you to get a basic understanding of the document. So, read on this guide to review each and every detail in the issued DLC MT700.

Letter of Credit Checklist

Company Name & Address Spelled Correctly

Maybe your company has more than one physical location. But the address that appears on the issued Letters of Credit should be your corporate headquarter. Also, make sure to double-check whether the company name is spelled correctly everywhere. In case, if any error occurs, the bank will raise a discrepancy, so make sure to check it properly.

Mentioned Amount and Currency

Make sure to check whether the amount and currency are mentioned as per the agreed sales & purchase contract or the proforma invoice. Keep in mind that you may unable to draw more than the value mentioned in MT700. On the other hand, if the words “approximately or about” are used, then there might be a chance to have a scope of plus or minus of the total value.

Tenure of the Draft

It’s based on when you are expecting payment. If it’s at the time of document presentation, then DLC at Sight draft is required. In case, if you agreed to a specified time period, then the tenure of the draft should accurately reflect the correct number of days.

List of Goods and Merchandise

The list of goods and descriptions on your proforma invoice should clearly match the description in the LC. In case, if anything misspelled on the LCs, either you’ll have to misspell the same on the invoice or need to have the DLC amended.

LC Fees and Charges

Usually, the buyer needs to pay all the Charges to their bank. Outside the buyer’s bank country, the seller will be responsible for all the charges that occur in their bank or any intermediary bank. Also, this has to be clearly stated on the issued MT700.

Letter of Credit Proposal at Free of Cost –  Contact Us Now!

LC Under UCP 600

If the LC issued in a SWIFT format, the issuing bank agreed to subject their LC to the latest version of UCP 600. Further, if it is issued in any other format and doesn’t mention anything about UCP 600, then you must have to amend the DLC.

These are the important checkpoints you need to look into, once you received the Swift MT700 in your hand. After reviewing it, if you determined that everything seems to be okay, you can proceed with the shipment.

How to Apply Letter of Credit?

Availing Letters of Credit from Bronze Wing Trading, the Letter of Credit Providers in Dubai can save a lot of time, errors, and headaches, as our trade finance experts can take care of each and everything in detail on behalf of buyers, before issuing the final Letters of Credit. We are having 30 plus years of experience in facilitating Letters of Credit for importers. Also, we have supported more than 25,000 clients to conclude their trade deals by providing the required financial instruments.

To avail DLC MT700 from good repute banks, contact us today! We are always available to assist you with all your trade finance needs!

The post Letter of Credit Checklist – How to Review the Issued LC appeared first on Bronze Wing Trading llc.

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.

Get Advance Payments from Your Counterparty in No Time – Discuss with Us Now!

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.

1. Firstly, you can visit our website to submit your requirement. Or else, you can also send us via email.
2. Secondly, our team will undergo a detailed study on your bond request. Also, we will let you know if your request is approved.
3. Further, if approved, you need to sign the service agreement with us. Then, you need to pay the service charges.
4. Then, we will start structuring your Payment Bond with our bank by blocking our bank limit.
5. Further, we will send the MT760 draft for your review and approval.
6. 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.

The post How to Get Advance Payment Guarantee Letter from European Banks? appeared first on Bronze Wing Trading llc.

What is a Bank Guarantee?

Bank Guarantee is a written undertaking issued by banks on behalf of their clients to ensure that they will meet their financial terms without fail. Further, with this promise, the banks undertake that they will pay the specific amount if the terms stated in the contract are not been met.

Since the banks analyze and certify the fiscal stability of the buyer, their credit worth increases. Also, this, in turn, increases business opportunities. Hence, this allows traders to conclude trade deals with big companies, which they can’t able to do without having a Letter of Guarantee.

Getting BG MT760 from your bank account is not an easy task if you have a low credit score. Further, with the strict norms of banks, it is very difficult to obtain a BG MT760. On the other hand, for guarantees involving bulk goods or million worth of projects, banks will require collateral as security to process the guarantee. Are you facing a lack of cash funds to arrange a Guarantee Letter? You can contact us today!

To Get Bank Guarantee MT760 at ZERO Collateral – Click Here!

What is Surety Bonds?

Surety Bonds or Performance Bonds is a contract between three parties, i.e. the Principal (the project owner or the buyer), the Bank, and the obligee (the seller or the contractor). Further, the banks act as a guarantor to the obligee that they will fulfill the terms of the contract without fail.

These surety bonds are mostly used in construction contracts. This is to assure that in case if the contractor fails to perform the task; then the project owner has a right to claim the bond to recover their losses incurred in the project. Also, it states that, if the claims are valid, they will receive the reimbursement of the amount stated in the contract.

To issue the Performance Bond on your behalf, banks will ask you to block a certain percent of the bond value as collateral. And so, in case of non compliance with the banking norms, your request will be declined by the bank. So, if you’re looking to get surety bonds without straining your cash funds, you can contact us with your bonds requirement. Surely, our team can help you to find the right solution that suits your business and your project. Contact us today to get started.

Submit your Surety Bonds Request to Us – Click Here!

Difference: Bank Guarantee vs Surety Bond

• Bank Guarantees serve as a payment assurance given by the buyer to their sellers. On the other hand, surety bonds assure performance on a specific project or trade deal.
• BG MT760 assures that the buyer will make the payment if the seller fulfills the contract terms without fail. Whereas, Performance Bond assures that the buyer can claim the bond to get the reimbursement; in case of non fulfillment of obligation by the seller as stated in the contract.

For all Your Bank Guarantees Requirements – Contact Us Now!

How to Get BG MT760s

Whether you are in need of Bank Guarantees or Surety Bonds to conclude your trade deals or projects; then, you can always rely on us! Bronze Wing Trading L.L.C., the BG Providers & Performance Bond Providers in Dubai have worked with thousands of contractors and traders to provide the best solution for their bond requirements!

To get Bank Guarantees & Surety Bonds from good repute banks without blocking your working capital, contact us now!

The post Bank Guarantee vs. Surety Bond – What’s the Difference appeared first on Bronze Wing Trading llc.

What are Financial Instruments?

There are different types of financial instruments, the banks used to provide on behalf of their clients. Further, these instruments act as a guarantee for the clients to conclude their business at the right time.

Usually, to avail these instruments, the clients require certain credit lines available with their bank. Also, they may have to provide a 100% cash margin to the bank for the issuance of the said instruments. However, in some cases, they may demand collateral to avail Trade Finance Services.

But, for many traders, arranging cash margin or surety seems to be tough. Because they don’t have such funds available in their bank account. On the other hand, maybe, their capital is involved with their trade.

Further, we, Bronze Wing Trading L.L.C., the Bank Instruments Providers are here to assist traders to avail such credit lines from rated banks. Also, for this, we don’t demand or request any form of cash margin; also, don’t demand any collateral from them. Above all, they have to pay only the issuance fee to avail their required instruments for their trade.

Apply for Financial Instruments at ZERO Cash Margin

Different Types of Financial Instruments We Provide

Letter of Credit

Letter of Credit is the bank instrument used in global trade. Further, this is a written undertaking issued by a bank on behalf of buyers; to assure their payment towards their seller. Also, by giving DLC MT700, the buyer assures the seller that they will get paid, once they ship the goods as per the agreed terms.

To Avail DLC MT700, Submit Your LC Requests Here!

Standby Letter of Credit

Standby LC is a payment guarantee towards the seller to assure their payment; i.e. once they comply with the contractual obligations to the buyer. On the other hand, by issuing SBLC MT760 in favor of the seller; the bank assures that the buyer will meet the payment term, without fail. Also, it ensures that in case of any default, the bank will make the payment.

Get SBLC MT760 in 48hrs – Contact Us Now!

Bank Guarantees

Bank Guarantees are a written payment commitment issued by a bank on behalf of its client. Further, this gives assurance to the counter party; i.e. upon fulfillment of their contractual terms, they will get paid. Also, this BG MT760 also reduces payment risk and promotes bulk trade deals. As a result, more and more traders and contractors are using MT760 for their business.

Further, there are various types of BG MT760s available and they are:

• Performance Bond
• Advance Payment Bond
• Bid Bond

Also, these MT760 are used to assure the performance i.e. either in the supply of goods or project work within the set time limit.

Apply Bank Instruments

Are you an active buyer, seller, or contractor who requires LC, SBLC, & BG MT760 for your upcoming trade deals? Then you can contact us! We, Bronze Wing Trading L.L.C., the genuine & trusted Trade Finance Providers in Dubai.

With the use of our credit lines, we can support your million dollars worth of trade deals in just 2 days by providing the Bank Instrument at ZERO Cash Margin.

The post Different Types of Financial Instruments appeared first on Bronze Wing Trading llc.