The Client Required LC MT700 Swift

The Turkish buyer who runs a leather product manufacturing unit required high-quality cowhides which can be recycled and repurposed to manufacture gloves, footwear, and other leather products. So, the buyer searched for a reliable seller to meet the legacy of Turkish leather products. Further, they posted their requirement in many B2B Portals. And, they received a response from a US Supplier, who had the stock of 10000 Metric Ton available for ready shipment. Since both the buyer and seller were doing overseas trade; they both decided to secure their transaction by using a Letter of Credit, as a payment term.

The Client’s Challenge to Avail LC MT700 Swift

The client applied for the LC from their bank. But the bank demanded them to provide a 100% cash margin to issue the Letter of Credit. Since the buyer didn’t want to liquidate the cash funds; they looked for other options to get the required LC. Also, they contacted many of the trade finance providers nearby, but almost all asked for collateral or a certain percent of trade value as cash margin. And then, they tried posting their requirement in many of the Facebook Groups. And, it was spotted by our team and we contacted them with a Free Quote.

Submit Your LC Request to Us – Click Here!

The Solution We Provided to Avail LC MT700 Swift

Once the client received our email, they contacted us immediately. First and foremost, they thanked us for our offer to provide DLC MT700. And then, we explained our Letter of Credit Process to them. Further, the Client agreed with our terms and signed the service agreement & paid the service charges. And then, we started working on their LC transaction. Also, we sent them the LC draft for their approval. After receiving the approval from the client, we asked them to pay the issuance fee charges to issue the DLC from our bank account. Finally, once everything was done, we requested our bank to issue the DLC to the supplier’s bank via MT700.

The Client Conveyed Their Thanks to Us

The supplier received the MT700 on behalf of the buyer company. And then, they started shipping the salted cowhide in a 20ft container, as agreed in the signed contract.

Once the transaction was done, the buyer contacted us to share their experience with us. Further, they stated as follows: “I have more pleased with their services. When I was desperately in need of LC MT700 for my trade deal, they lend their hand for help. Thank you, Bronze Wing, for your timely help.”

Get SWIFT MT700,

If you are in need of a Letter of Credit to import goods from your overseas supplier, then you can contact our experienced LC Providers in Dubai with a valid PO. Our team will assist you by providing the right guidance which will help you to get the deal concluded on time.

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The Client Required Usance LC

The Client is an authorized CCTV Distributor in India. To grow their business and to raise their ROI, they decided to purchase IR Camera Kits; and then supply it to the local markets – shopping malls, bus terminals, metro stations, schools, etc. This business idea seemed to be the good one for them; but, on the other hand, they were hesitant to do dealings with unknown suppliers. So, they decided to choose one of the known suppliers from Dubai, UAE.

The Supplier Agreed to Usance LC Payment

They negotiated with the seller and convinced them to supply these cameras kits on the basis of the Usance LC Payment term. As the buyer runs an authorized CCTV distributor in India. So, the seller agreed to supply the kits based on the stated payment term. And then, the buyer sent their requirement to the seller and asked for the BOQ. Since the quoted price seemed to be normal; the buyer agreed to it and signed the contract with the seller.

The Client’s Challenge to Avail Usance LC

Since the client has already used their banking facility, they were unable to receive the MT700 from their bank. So, they started looking for trade finance providers outside the bank. By understanding the buyer’s requirement, the seller referred Bronze Wing Trading, the Letter of Credit providers in Dubai to the buyer. Further, with the seller’s reference, the buyer contacted us with their request.

Submit your LC Request to Us – Click Here!

Our Approach in Helping the Client to Avail Usance LC

Once we received the request from the buyer, our team studied their deal and approved their request to issue LC MT700 on their behalf. Then, we asked the buyer to sign the service agreement and pay the service charges to start work on their trade deal. Accordingly, they signed the agreement and transferred the charges to our bank account. Then, we structured their deal and sent the LC draft for their approval. Further, the client reviewed and approved the draft; also, they paid the LC issuance fee. Once all the process was done; we requested our bank to issue the Deferred LC on behalf of the buyer and in favor of the seller.

The Seller Received the LC and Proceed with the Shipment

As per our request, our bank issued the LCs to the seller’s bank via Swift MT700. Once the seller received the MT700 in their favor; they got assured that they will receive the payment; after the shipment of goods. So, they shipped the required – High Tech IR Cameras Kits to the buyer’s port.

Since the seller supplied the goods within the set time limit; so, the bank releases the payment to the supplier at the maturity date. On the other hand, the buyer received the goods at their port; also, started to supply it to their local markets and earn a good amount of profit.

This is how we, Bronze Wing Trading L.L.C., the Letter of Credit Providers in Dubai helped the buyer to purchase Thermal Camera kits from Dubai using Usance LC.

Apply for Letter of Credit,

Are you going to deal with unknown suppliers? If you are looking for a payment option to secure your trade deals, then choosing Letter of Credit will be the right choice for you! Now you can get the required LC MT700 at ZERO Collateral from Good Repute Banks at minimum service charges.

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The Client Required LC MT700

The Japan trader posted their copper millberry offer in all B2B portals and Facebook groups related to their scrap import deal. And they received more responses from many scrap sellers all over the world. And, from them, they picked the best one from the UK; who is ready to supply up to 1500 MT per month. And then, the buyer contacted the scrap seller to discuss their payment term; further, they both agreed as LC Payment.

Get LC MT700 at ZERO Cash Margin – Apply Now!

The Challenge: Avail LC MT700 without Cash Margin

To avail LC from their bank, the trader contacted their bank. But the bank asked for a 100% cash margin, as collateral to issue the LC on behalf of them. But they don’t have liquid cash available at that time. So, they decided to get help from LC Providers; who could help them to avail MT700 without cash margin. Further, they posted their requirement on all Facebook Groups related to their copper import.

Since we’re also active in Facebook groups, we received a Facebook alert regarding the trader’s LC request to import copper. So, we respond to the buyer’s Ad by posting our website info and contact details.

The Solution: How BWT Helped the Japan Trader With LC MT700

Further, getting the response from our end, the buyer visited our website to know more about us. After reading our Case Studies, the buyer felt satisfied; and contacted us with their Letters of Credit request. Further, we studied and approved their request. We signed the service agreement with the client; and asked them to pay the admin charges. Once they paid the charges, we structured their LC as per their deal and sent the draft for their approval. Further, they approved the LC draft and also, they paid the issuance fee. And so, we instructed our bank to issue the LC to the seller’s bank via Swift MT700.

Apply for LC MT700 Now – Click Here!

The Final Result: Deal Concluded within 48 Working Hours

Within 48 working hours, the scrap seller received the Letter of Credit in their bank account. With LC issued, they shipped the required Copper Scrap in containers to the buyer’s port. Further, the buyer received the millberry copper scrap and supplied it to local buyers who are in need and earned profits.

This is how the Japan trader concluded their copper deal with the help of MT700 issued by Bronze Wing Trading, the Letter of Credit Providers in Dubai.

Further, if you’re in need of a Letter of Credit for the same kind of trade deal, contact us today!

Get Help from LC Providers in Dubai,

Are you looking for a Letter of Credit to import scrap from overseas? We can provide a Letter of Credit from our bank account to conclude your trade deal on time without facing financial issues. Contact us with your LC request & get a FREE Quote in 24hrs!

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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!

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