FAQs
Have any questions or queries related to Trade Finance Facilities – Letter of Credit, Standby Letter of Credit, or Bank Guarantees? Let us help you with these Frequently Asked Questions (FAQs).
If you can’t find the answer to your queries, feel free to Contact Us, we are always ready to assist you with any questions you may face in your business.
What kind of services does Bronze Wing Trading offer ?
We provide our Trade Finance Services in terms of Letter of Credit, Standby Letter of Credit, Bank Guarantee, Performance Bond – Performance Guarantee, Tender Bid – Tender Bond, Advance Payment Guarantee and Bank Comfort Letter.
Where is Bronze Wing Trading Company located ?
Bronze Wing Trading is located in Dubai, United Arab Emirates. For Location Map
Is Bronze Wing Trading a Direct Provider or a Broker ?
Bronze Wing Trading is the Direct Provider.
How long is Bronze Wing Trading in business?
Bronze Wing Trading is in business from decades.
What is the minimum transaction that Bronze Wing Trading deals with?
The minimum transaction value that Bronze Wing Trading deals with is USD/EUR/GBP 250,000/-.
What is the maximum transaction that Bronze Wing Trading deals with?
Bronze Wing Trading can provide maximum value of financial instrument in tranches of USD/EUR/GBP 5 M per day.
For Example: If you want SBLC for 20 M, then we can provide in 4 tranches of USD/EUR/GBP 5 M per day (5M x 4 Days).
How does the issuance fee charge of the financial instrument can be paid?
The issuance fee charges of the financial instrument can either be transferred in our bank account or paid in our Dubai office on the day of its issuance.
Does Bronze Wing Trading accept payment of issuance fee charges by Escrow?
No, Bronze Wing Trading does not accept MT 103/23 or ICBPO being issuance fee charges of the required financial instrument.
Does Bronze Wing Trading accept any financial instrument (LC/SBLC/BG) instead of issuance fee charges?
No, Bronze Wing Trading does not accept LC/SBLC/BG being issuance fee charges of the required financial instrument.
To whom are the issuance fee charges of the financial instrument to be paid?
The issuance fee charges of the financial instrument are to be paid only to Bronze Wing Trading.
Does Bronze Wing Trading pay commission/referral fee/brokerage fee?
Brokers may add up their commission/referral fee/brokerage fee on top of our issuance fee charges to their clients. If Bronze Wing Trading receives the commission charges, it will be reimbursed to the broker’s designated bank account.
Why do I need to pay your fee before you open the financial instrument? Can’t you take your fee out of the profits of our transaction?
The fee charges needs to be paid before opening the financial instrument to cover the bank commission, its processing fee, swift charges & etc. as per normal banking system.
Can I cancel the financial instrument after it has been opened?
No. All of the financial instruments, once issued cannot be cancelled as they are Irrevocable.
What are the charges for opening the financial instruments?
The financial instruments’ charges depend on its validity. Our Marketing Staff can provide you with an up to date Tariff schedule upon request.
I opened a financial instrument to my supplier, but he did not ship the goods. Will you refund my fee?
Once the financial instrument is issued your fee charges cannot be refunded. We recommend to all of our clients that they need to assure themselves of their supplier’s ability to perform before requesting us to issue any banking instruments.
In which currency can Bronze Wing Trading provide the financial instruments?
What is the validity of financial instrument Bronze Wing Trading provides?
The validity varies depending on financial instrument such as;
| FINANCIAL INSTRUMENT | VALIDITY | ||
| Letter of Credit | 90 DAYS | 180 DAYS | NA |
| Standby Letter of Credit | 90 DAYS | 180 DAYS | 365 DAYS |
| Bank Guarantee | 90 DAYS | 180 DAYS | 365 DAYS |
| Performance Bond Guarantee | 90 DAYS | 180 DAYS | 365 DAYS |
| Tender Bid- Tender Guarantee | 90 DAYS | 180 DAYS | 365 DAYS |
| Advance Payment Guarantee | 90 DAYS | 180 DAYS | 365 DAYS |
Can Bronze Wing Trading provide a TRANSFERABLE financial instrument?
Yes, Bronze Wing Trading can provide a TRANSFERABLE financial instrument upon client’s request.
Is the financial instrument Renewable?
Yes, the financial instrument is renewable and can be renewed before 15 DAYS of its expiry subject that the client pays its extension fee charges.
How long will it take for Bronze Wing Trading to issue the financial instrument after the charges are paid?
Does Bronze Wing Trading require any collateral to provide the financial instrument?
No, Bronze Wing Trading does not require any Financial Collateral.
But before issuance of the financial instrument, Bronze Wing Trading will obtain an undertaking from client’s company stating that incase of any claim arise under the issued financial instrument, client’s company will cover the entire amount of the claim.
Can Bronze Wing Trading provide loans or finance for business/projects?
Bronze Wing Trading does not provide loans or finance in terms of Cash Investment.
Does Bronze Wing Trading buy or sell any financial instrument (BG/SBLC)?
No, Bronze Wing Trading is not trading (buying or selling) any financial instrument.
Does Bronze Wing Trading discount or finance against any financial instrument?
No, Bronze Wing Trading does not discount or finance against any financial instrument.
By which banks does Bronze Wing Trading provide the financial instruments?
Bronze Wing Trading has accounts with several international banks. Based on the transaction, clients will be informed about the issuing bank details at the final stage of deal conclusion.
Can Bronze Wing Trading provide the draft/text of the financial instrument?
Yes, Bronze Wing Trading will provide the draft/text of the financial instrument for the client’s approval once the deal is finalized.