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The Demand for Bank Guarantee Facility

An African buyer got a business proposal for to supply of Renault Cars. They tried their best to find a good supplier on their own terms. Finally, they found a seller from Dubai – UAE. To begin with this deal, the seller asked the buyer to provide a BG MT760. This is to assure the seller that the buyer will oblige to the payment terms, as per the agreed contract. Further, the buyer went to their banks to get the BG MT760. But as they don’t have the credit lines, the banks declined their request.

Challenges to Avail Bank Guarantee Facility

As the banks were not ready to provide the MT760, the buyer consult with their trade finance advisor to find a solution. In today’s globalized world, trade finance is no longer a subject for the sole domain of banks. As per their advice, the buyer looked for BG providers. While they search online, they came across our YouTube video on “How to Avail Bank Guarantees”. Our video was a great help to them and they decided to contact us with their BG MT760 request.

Submit Your MT760 Request to Us

How We Provide the Bank Guarantee Facility

We provide trade finance services that include Letter of Credit, Standby LC, and Bank Guarantees. Our services are available to companies and individuals. After receiving the BG’s request, our team did a careful study on their car deal. Since their deal complied with all our terms, we agreed to extend our credit lines on their behalf. The buyer signed the service contract and paid the service charges to proceed with their BG request. We then start work on their car deal with our bank and provide the BG draft for their review. The client visited our office to approve the BG MT760 draft and to pay the BG issuance fee. Then, we asked our bank to issue the MT760 on their behalf and in favor of their seller by using our own facilities. Finally, they issued the required BG to the seller’s bank account.

Bank Guarantee Providers

If you’re in need of a BG MT760 for your future trade deals or projects, then you can contact us with your MT760 request. Our trade finance experts can assist you to get the Bank Guarantees from good repute banks without blocking your own cash funds. Our clients include Fortune 500 companies and emerging businesses. We are located in Dubai, UAE with offices in London, UK.

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What is Documentary Letters of Credit?

Documentary Credit or Letter of Credit is issued by the buyer’s bank in favor of the supplier to assure that the payment will be made, once the seller submits the shipping documents. By acting as a credit certificate for buyers, LC at Sight builds trust between buyers & sellers. By understanding the benefits of LC, nowadays, most of the global trade transactions are occurring using LC Payment Term. Below is one of our success stories in helping a Chinese trader to import Chicken Paws from Brazil using LC at Sight.

Know the Process to Open MT700 at ZERO Collateral – Click Here

Buyer’s Requirement of Documentary Credit

Since the demand for Chicken Paws is at its peak in China, the buyer decided to use this time to do some imports. They planned to import the paws from overseas sellers & resale them to the local market. So, they searched for the seller and find the best one from Brazil. The Brazilian seller offered the best quote for the buyer. But to proceed with the import, the buyer didn’t have enough cash funds in their hands; so they discussed with the seller to import the goods without making advance payments. Since the buyer was unknown, the seller didn’t want to take any risk. So, he asked the buyer to provide a Letter of Credit which assures that the payment for the supplied goods will be made right after the shipment. The buyer agreed to the seller’s demand and started looking for ways to get MT700.

Buyer Contacted Us with the Documentary Credit Request

The buyer’s MT700 request was declined by their bank due to a lack of cash funds to provide a cash margin. So, they looked out for other options to avail Sight LC. While searching online for the International Trade Finance Company, the buyer found us & submitted their MT700 request to us. Also, the buyer called us via phone to discuss their requirement. Since the buyer urgently required Import LC to import chicken paws, we put their Letters of Credit transaction on our utmost priority list & provided the proposal within a day. Since our proposal was well explained & the charges were nominal; the buyer signed the agreement with us & paid the admin charges to block the bank limit.

Get a FREE Quote for your Import LC Requirement – Click Here

Our Role in Providing Documentary Credit

As the next step, we structured their MT700 transaction with our bank based on their Chicken Paws deal and provided the LC MT700 draft along with the Bank Name and other details for the buyer’s review. Since the buyer had few doubts about the draft, they called us to discuss further. Hence, we arranged a video call via Google Meet and explained each & every clause in the draft to the buyer. Also, we explained the Letters of Credit Process such as – when the buyer needs to make the payment & when the seller can claim the LC, etc. Further, this made the buyer feel satisfied; and then, they proceed with the payment of LC issuance fee charges. After receiving the issuance fee, we instructed our bank to issue the required LC at Sight from our Bank Account in favor of the seller via SWIFT MT700.

The buyer conveyed their thanks to us for our timely service in issuing the required SWIFT  MT700 at ZERO Cash Margin. With the issued LC, the seller started the shipment of Chicken Paws instantly.

How to Open Documentary Credit?

If you’re in need of LC at Sight from Good Repute Banks, you can contact us with your LC request. Since we have our own credit lines, we can support you to conclude your deals on time in a hassle-free way. Contact us now to discuss your Documentary Credit requirement in detail!

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Buyer’s Requirement

The outbreak of COVID-19 led to a major reduction in the production of oil & gas in Nigeria. Hence, to meet the emerging demand for gas oil, the buyer from Nigeria decided to import gas oil from overseas and supply it to the local market to earn some profits. So, they searched for suppliers of AGO and found the genuine one from Alibaba B2B Portal. 

The buyer explained their requirement to the seller. And then, they agreed to supply the required amount of gas oil.  Since the buyer was struggling with liquidity and cash shortage; they were unable to proceed with the purchase of AGO. So, the buyer discussed with the seller; and they both agreed to use Standby LC to conclude their AGO deal. As SBLC MT760 provides a payment guarantee, the seller was ready to supply the gas oil without getting upfront.

Challenges Faced by the Buyer

To get the Standby LC, the buyer contacted their bank. Since their bank required a 100% cash margin to issue the SBLC MT760. But the buyer didn’t have enough cash funds; so, they can’t able to comply with their bank norms. Further, they searched for some other options. Finally, via referral, they contacted Bronze Wing Trading, the SBLC Providers in Dubai with their SBLC request.

Get Standby LC at ZERO Cash Margin – Click Here

Solution Provided by Us

Being the SBLC Providers in Dubai, we analyzed our client’s SPA of gas oil and approved their SBLC request. Since we didn’t ask for any cash margin, the client felt very much satisfied to work with us. And then, they visited our office in Business Bay, Dubai to sign the service agreement & pay the admin charges.

Our team started working on their SBLC transaction with our bank by blocking our bank limit & structured their SBLC draft with our bank. Then, we sent the SBLC draft for the client’s approval to verify whether it was done as per the client’s requirement. Further, they verified the draft and conveyed their approval to us. Finally, we instructed our bank to issue the required SBLC as per the approved draft to the seller’s bank via SWIFT MT760.

Client’s Satisfaction

Since we extended our trade finance support on behalf of the client to conclude their gas oil import deal; they felt very happy and conveyed their heartfelt thanks to us. Also, they informed us that they will stand as an envoy in Nigeria to promote our trade finance services to the trader’s community.

This is how we assisted one of our clients in availing Standby LC in just 2 days in favor of their seller in Russia without pledging cash margin!

Are you in need of a Standby LC to import goods from overseas? Contact Standby Letters of Credit Providers in Dubai with your SBLC request & get a FREE Quote in just 24hrs!

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Doing global trade transactions can be risky for sugar traders, as they usually deal with buyers & sellers from different legal jurisdictions. Also, this increases the risks of both parties such as non-payment for the supplied goods; which leaves the seller with lengthy waits to recover the payment. Also, on the other hand, the supplier’s negligence in complying with rules will end with the buyers with large fines and tariff bills. So, to secure your trade deals from the risks involved, most of the traders are using Standby LC, as their payment term.

Requirement of Trade Finance in Dubai

UAE has witnessed a growing demand for sugar this year. By knowing the emerging demand, a UAE buyer decided to earn some profits by importing sugar from overseas and supply to the local market. So, they searched for the Sugar supplier via portals. As a result, they have chosen the one from Brazil. Since the buyer required 600,000MT of sugar, the seller agreed to supply them 50,000 MT.

As both the buyer and seller were well aware of the risk involved in global trade deals; they both agreed to use Trade Finance to conclude their sugar transaction.

Get a Standby Letter of Credit at ZERO Collateral – Apply Now!

According to their agreement, the buyer needs to provide a Standby Letter of Credit from a rated bank to the seller’s bank account. On the other hand, after receiving the SBLC, the seller has to provide a performance bond of 2% value of the contract to the buyer’s bank. And then, after the shipment of sugar to the buyer’s port, the seller has to submit all shipping documents to the buyer’s bank for confirmation & payment. So, they can receive the payment within 5 working days.

Since the buyer and the seller mutually agreed on all the above terms; they signed the SPA to conclude the sugar import using SBLC MT760.

Buyer Availed Trade Finance in Dubai

To get Standby LC, the buyer contacted their bank. But the bank was ready to lend their help to the buyer upon 100% cash margin, additionally its charges. Already, the buyer faced financial crashes in their running business; so they can’t able to arrange the liquid cash to provide cash margin for the issuance of SBLC MT760. So, they searched for the solution and finally came to BWT, the genuine provider of Trade Finance Services in Dubai.

Standby LC to Import Goods on Credit Basis – Get Free Quote!

Within the very first day, we approved their SBLC request as the Buyer complies with all our terms and conditions. Since the buyer wanted to conclude the deal on an urgent basis, so, they signed the service agreement. Also, they paid the admin charges on the same day. Also, we worked with our bank in regards to their sugar deal and provided the MT760 draft for their review. And then, the buyer approved the MT760 draft with the consent of their supplier and paid the issuance fee charges. Then, within the next 24hrs, the seller’s bank received the MT760 on behalf of the buyer from our bank account.

The Successful Deal Conclusion by Availing Trade Finance in Dubai

With the issued Standby LC, the seller started the first shipment of sugar (12,500 MT) packed in 50kg bags via sea freight. And then, the buyer received the sugar & started supplying it to the local market & earned handsome profits. Finally,  the buyer conveyed their heartfelt thanks to Bronze Wing Trading stating as follows, “Thank you, Team! You did a great job in helping me to get an SBLC from a good-rated Bank. Also, the help which you did in this COVID crisis is really great!”

This is how we, the genuine SBLC Providers in Dubai have assisted a UAE trader to import Sugar from Brazil using SBLC MT760.

Get Trade Finance in Dubai

If you’re looking to get a Standby LC at ZERO Cash Margin, contact us today! Our team of trade finance experts can assist you with your SBLC request & get it issued from International Repute Banks in just 2 days.

The post UAE Buyer Imported Sugar from Brazil by Availing Trade Finance in Dubai appeared first on Bronze Wing Trading llc.

The Client’s Requirement for LC Issuance:

Our client is running an automobile showroom in Sudan. To expand their product line, they wanted to import new model cars which are on-demand in the current market. Further, while doing research, they decided to go with Toyota Hilux Double Cabin Pickup Trucks. Since they are more popular in the market for its styling features and off-road stunts.

Further, for the Toyota truck import deal, our client found an auto dealer from Dubai who was ready to export the required pickup trucks to Sudan. Since the situation of the world is upside down due to Covid; both the traders had decided to secure their trade deal by using DLC MT700.

Apply for LC MT700 at ZERO Collateral – Click Here!

The Client’s Challenge on LC Issuance:

As the import contract was signed on the basis of the LC Payment Term; the buyer started searching for ways to open LC. Almost all banks asked for a 100% cash margin to open DLC on their behalf. The client has tied up their capital funds in their running business. As a result, they can’t able to meet the banking norms. So, the bank declined their DLC request; also, advised them to get help from private trade finance providers. In the meantime, while discussing with the seller regarding the issues in the opening of  DLC; they asked the buyer to contact Bronze Wing Trading L.L.C., the Letter of Credit Providers in Dubai.

How We Served the Client’s LC Issuance Request:

The client sent a detailed email to us explaining their LC need. Our team studied their trade deal. And then, we had a phone conversation with them to get more information regarding their trade deal. We explained our LC process to them. Hence, they felt satisfied with our LC process; they signed the service agreement with us and paid the service charges.  Further, our team started structuring their DLC transaction with our bank; also, sent the DLC draft for the client’s review.

Get FREE Quote – Submit Your LC Requirements

Both the buyer and the seller reviewed the MT700 draft; also, conveyed their approval to us. Further, we asked the buyer to provide the LC issuance fee to move ahead. Accordingly, they paid the DLC issuance fee; and then, we requested our bank to issue the required DLC to the seller’s bank account via SWIFT MT700.

Successful LC Issuance

Once the seller received the DLC, they started the shipment of pickup trucks to the buyer’s port as agreed in the contract.

In conclusion, this is how the car import deal between the Sudanese buyer and the UAE supplier concluded successfully!

How to Get LC MT700?

If you’re looking to open Letters of Credit to import goods from overseas; feel free to contact us with your requirement. Unlike banks, we will demand you to provide a 100% cash margin for LC. Rather, we can facilitate LC Issuance from our own rated Bank Account at ZERO Cash Margin!

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What is a Bid Bond / Tender Bond?

It is a guarantee issued by a bank to assure the project owner that if the bidder fails to honor the terms of the bid, the project owner can claim the bond to get compensated. Also, issued on behalf of the contractor and in favor of the project owner, Bid Bond assures that the contractor is financially capable and has the required manpower to take on the project if the bid is awarded.

Avail Bid Bond in 2 Banking Days – Apply Now!

How does a Tender Bond Work?

For instance: A developer floats a bid for a high-rise building project. Before submitting the bid, contractors used to prepare a quote which includes the cost of material, labor charge, equipment purchase, &, etc. required to complete the project on time. And then, they submit the quote to the project owner in the form of a bid. In the next step, the developer reviews the bid and the one who provides the realistic quote wins the bid. Finally, the project will be awarded to them. But in certain cases, project owners may feel skeptical about whether the contractor will complete the tasks within the submitted budget. Or else, they may increase the quote in the mid of the work. So to get the required assurance, the owners can demand from the contractors to submit a Performance Bond.  

Further, in the bidding process, Bid Bond serves as a guarantee that the contractor who wins the bid will undertake the project; also, will complete the project within the submitted quote. In case, if the contractor fails to honor the terms of the bid, i.e. if they increase the price for the job after signing the contract. Then the contract will be breached. Further, to cover this cost, the project owner can claim the Bid Bond provided by the contractor.

Now You Can Easily Win the Bidding Contest with Bid Bond   – Apply Now!

Benefits of Tender Bond 

• Open up new tender opportunities
• Negotiate better contract terms
• Builds trust between contractors & project owners
• Also, increase the chances of winning the project

How to Apply for Tender Bond?

To get Tender Bond for your upcoming contracts, you can contact us today! We are the International Bank Guarantee Providers in Dubai. Indeed, we provide tailored solutions for contractors which help them to sign worthy contracts and expand their business without any financial hurdles. Unlike banks, no need to block your own cash funds to get a Letter of Guarantee. All you need to do is – submit your Bid Bond requirements to us. We will structure your deal and will facilitate the required MT760 issued from our rated Bank Accounts in 2 days.  So, what’s more? Contact us today to apply for Bank Guarantee without blocking your cash funds. 

The post Get Tender Bond to Win the Bidding Contest appeared first on Bronze Wing Trading llc.

What is LC Used for?

When a buyer & seller from two different parts of the world are going to deal with each other, there may be a chance for trust issues. This is because – suppliers will not be ready to supply the goods without getting some kind of advance payment, as they don’t have any assurance on whether the buyer will pay for the supplied goods or not. On the other hand, the buyer will not be ready to make the payment without knowing that whether the supplier will supply the goods or not. So, here comes the importance of using Letters of Credit. In international trade transactions, LC MT700 bridges the trust issues between the buyer and seller, especially when they are unknown to each other.

Simple 5 Step LC Issuance Process – Click Here

Main Purpose of Letters of Credit for Buyers and Sellers

Letters of Credit assist both buyers and sellers to do global trade transactions in a safe and secure way. Let us see how it helps buyers and sellers with their trade transactions.

For importers – Using a Letters of Credit ensures the seller that you will make the payment, only after the supplier submitted the proof that they have shipped the products as agreed in the contract. Further, by doing so, it allows you to conserve your cash flow, as you don’t want to pay your seller instantly and this will help you to invest your money in other businesses. Also, since you don’t have to make any advance payments or deposits to the seller, you can conclude your deals without facing any issues. Also, LCs acts as a certificate to prove your credibility & financial ability in making the payment.

For exporters – Accepting LC as payment terms will act as a safety net for you. That is, in case, if the buyer fails to pay for the goods you shipped, then you can claim the LC to the buyer’s bank to get the payment for the supplied goods. But to be noted that you’re entitled to get the payment, as long as you have met the delivery conditions and submitted the documents as stated in the issued LC.

Apply for LC Now & Get It Issued in 48hrs   – Click Here!

How to Apply Letter of Credit?

Have you decided to use Letters of Credit for your import & export needs? So, how you will open the LC at Sight? If you’re looking to get the LC from well-reputed banks at ZERO Collateral, you can always contact us with your DLC request!. Being the LC Providers in Dubai, we can assist you with your DLC transaction and will help you to get the DLC MT700 issued in just 2 days!

The post What is the Purpose of Letter of Credit? appeared first on Bronze Wing Trading llc.

What is Bank Guarantees?

Bank Guarantees are issued by a bank as a promise to undertake the payment risk on behalf of its clients. Mostly, BGs are used in trade deals and projects to protect the counterparty from fiscal risks. Further, this MT760 guarantee helps traders even SMEs to import goods from big companies, which usually could not be happened without BG MT760. For this purpose, nowadays,  more & more traders require BGs to grow their business & to earn status in the global trading market.

Get BG MT760 in 2 Days – Click Here to Apply

What are the Bank Guarantee Requirements?

Anyone who has a good financial record with their banks can apply for BG. If you contact your banks to avail BG; they will analyze your banking history, credit score, and liquidity, before approving your BG request. Further, they would also study your deal, the value of required BG, beneficiary details, etc. Then, if everything is up to the mark, they will consider your BG request; Also, they will ask you to provide a certain percentage of the BG value as collateral or cash holdout. Finally, if you comply with the banking requirements, the officials will provide the required approvals & will start to process your BG request.

How to Obtain BGs at ZERO Collateral?

In case, if your banks said “No” to issue the BG due to the non-compliance of banking norms, don’t hold or lose your project! We are here to help you by providing the required BG without demanding a cash margin. Since we have our own credit facilities with rated banks, we will block our bank limit based on the BG value you require. Further, the bank will issue the BG from our bank account on behalf of your company. Also, with us, you can avail the required BG without providing us any fiscal security.

Simple 5 Step Process to Apply BG MT760  – Apply Now!

Documents Required for Bank Guarantees

• Proforma invoice or sales contract of the trade deal or contractual agreement of the project
• Copies of company registration or Trade License
• Passport copy of authorized signatory
• Proof of residence address & company address for the authorized signatory
• Bank account statement for the last 6 months
• VAT Registration (if applicable)

Apply BG MT760,

Once you are ready with the documents listed above, you can submit your BG request to us! We, the International BG Providers can analyze your trade deal and get back to you with a FREE quote within 24hrs! Contact us now & avail the BG in just 2 days at ZERO Cash Holdout!

The post Bank Guarantee Requirements: How to Obtain Bank Guarantee? appeared first on Bronze Wing Trading llc.

What is Trade Finance Facility?

Trade Finances plays a vital role in assisting traders to do business globally without facing any financial hurdles. Further, it covers an umbrella term by including a wide range of Bank Instruments such as – Letter of Credit, Standby LC, BG MT760 & Comfort Letter. All these Financial Instruments assist traders to reduce the risk of payment and supply of goods; by introducing a third party called Banks, as a guarantor.

Apply Now: Letter of Credit Available at ZERO Collateral

Why there is a Large Gap between Trade Facilities & SMEs?

Only a small part of the import is paid in advance and the rest, nearly 80% of world trade tends to occur by using Bank Instruments. Also, on the other hand, SMEs play a major role in a global economy (nearly 96%); so the rejection of Financial Instrument requests will directly affect the world’s market.

When we analyze the gap between the Trade Facilities and SMEs; the main reasons can be – lack of credit score, lack of credit history; as well, lack of cash funds to provide a cash margin. These 3 are the main demands of the banks which traders, mostly, SMEs can’t able to fulfill these banking norms. Hence, this is the reason behind the rejection of their request.

However, when we think about the quick ways to close the financial gap; there is no panacea for traders; apart from getting help from private Trade Finance Providers.

How Trade Finance Providers Helps to Bridge the Trade Finance Gap?

If the banks declined your request to avail bank instruments; then there are two options left for you – Either you can step out from the deal; or else you can get help from Bank Instruments Providers in Dubai.

Usually, the provider of trade finances has strong tie-ups with good repute banks. Further, this helps them to extend their support to traders to assist them with their import export finance needs.

To get the right support for your import & exports, you can get help from us. We at Bronze Wing Trading can help you to get the Bank Instrument at ZERO Cash Margin; which makes it easy for you to conclude your deals on time. Also, we can support traders by providing Trade Finances in Dubai & anywhere in the world.

Contact us now to see how we assist traders to bridge the gap in trade finances!

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