The Client Required Letter of Guarantee

A project owner in Dubai floated a tender for contractors to quote their prices; to construct a high storey building. One of our Clients who is a leading contractor in Dubai; decided to submit their quote for the building project. Since they have completed many buildings earlier; they were quite fit for the said project.

As per the market practice, the project owner demands a Bid Bond or Tender Guarantee to accompany their project bid. Since the project seems to be the worthy one; the contractor didn’t want to miss the chance. Hence, they searched for ways to avail Bid Bond on their behalf.

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How to Avail Guarantee Letter

Moreover, despite their skills to complete the project; the contractor required a guarantee letter as a bond to submit their quote for the declared tender. So, they contacted their bank with the bond request. But such bonds require a certain percent of the bond value as a deposit in the bank. Since their capital was tied up with other projects. So, they didn’t have enough cash funds; to cover their bank demand.

Further, they were left with no idea what to do next. While explaining the requirement to their business advisor in Dubai; they advised that Bronze Wing Trading, the Bank Instruments Providers in Dubai; can help them to get the required Bid Bond from a world repute EU bank.

How We Helped the Client With Letter of Guarantee

After doing some research on Google; the client contacted us with their Bid Bond request. Since we have years of exp. in helping many contractors with their bond needs; we knew that we could help the client to win the contest by providing the required guarantee. We did a detailed study on the client’s contract and approved their request to issue the MT760.

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Firstly, we explained our process to the client. The client was fully satisfied; and signed the service agreement with us. Also, they paid the service charges to start the work on their request. Therefore, we blocked our bank limit to structure the bid bond. Also, we sent the MT760 draft for their review. And then, they approved the draft. Further, we provided Bid Bond from our European bank in favor of the project owner.

Final Result: The Client Won the Bidding Contest

The Client submitted the quote, and honor the terms of the bid with the issued Bid Bond. Since the quote they quoted was very realistic; they won the contest and secured the new building project. Further, they felt satisfied with our timely services. Also, they conveyed their gratitude towards us; by writing a positive review on our reviews page. Also, they assured us that they will come to us for their BG MT760 needs in the future.

This is how we helped our client to secure the worthy building contract with the required Letter of Guarantee from our rated bank account.

How to Get a Bid Bond?

Do you require a Bid Bond Guarantee to submit your tender? Now you can get the required Guarantee without blocking your own cash funds by contacting us. Submit your requirements to us & get the Bond issued in the next 48 hours!

The post Construction Firm Requires Letter of Guarantee for Submitting their tender appeared first on Bronze Wing Trading llc.

Problem: The Client Required Performance Bank Guarantee

A UAE-based contractor in Dubai got a worthy building contract from a project owner in UAE. But to sign the contract and to guarantee their performance to their project owner; the contractor required a Performance Bond. By availing this bond, the contractor needs to provide assurance of their work to the project owner. So, they look for the options to avail such an MT760 on their behalf.

Challenge: How to Avail Performance Bank Guarantee

Because of the impact of the COVID 19, the Contractor had no idea on how to get MT760 on their behalf. They faced a fiscal crisis; so, they can’t able to avail it from their end. So, they searched online to find Performance Bond Providers in Dubai. Further, while searching for Google; they came across our website. At once, they called us to enquire about our service.  Since they felt satisfied with our answers; so they submitted their request through our website.

Submit your PB MT760 Request to Us – Click Here!

Solution: Issued Performance Bank Guarantee to Our Client

Despite COVID 19 outbreak, we did our best to assist our client in availing MT760 on their behalf. Once we received the request from the client; we studied their contract. Further, we agreed with them to provide the bond. And then, we signed the service agreement with them; then, we asked them to pay the service charge. Accordingly, they signed the agreement; and paid the service charge to us. And then, we started to process their Construction Bond request.

Simple Process to Get Performance Bond – Apply Now!

Even in lockdown and curfews, we had done our best to ensure complete satisfaction for our client. At first, we blocked our bank limit; and structured the required bond as per their request. And then, we sent the draft for their approval. Further, once we received the draft approval; and issuance fee; we requested our bank to issue the bond from our account, on behalf of the client.

Within 2 to 3 days, our bank issued the Contract Bond in favor of the project owner; and on behalf of the contractor. Further, with the bond, they assured their positive completion of work; as per the signed contract to the project owner. Moreover, after receiving the bond in their favor; they signed the building contract with the contractor.

The Client’s Review

With heartfelt thanks, our client provided a statement to BWT that states as follows; “We are really thankful to BWT for their timely help, in such a pandemic condition. Also, we appreciate the level of service; they offered to us. And also, we recommend BWT and their services; to all who require Bank Guarantee for their projects.”

This is how we helped the UAE Contractor to avail Performance Bond to assure their positive work towards their client.

How to Get Performance Bond?

Are you in need of a Performance Bond to sign new trade deals or contracts?  You can submit your requirements to us. We can assist you by providing a Performance Bank Guarantee on behalf of your company without blocking your own cash funds. Instead, we will block our bank limit as per your bond value & will issue the required Surety Bond in 2 banking days.

The post A UAE Contractor Availed Performance Bank Guarantee from Us appeared first on Bronze Wing Trading llc.

Problem: Require Performance Guarantee for Urea Deals

A trader from South Africa received an offer to supply urea bags to the local buyers. As the seller has enough stock of urea, they agreed to this contract. But all the buyers asked Performance Guarantee from the seller to secure their trade from fiscal risk.  The seller agreed to the demands of the buyers and started looking for options to avail Performance Bond.

At first, the seller asked their bank to provide MT760 against all the Urea contracts. Since they didn’t have enough cash flow and didn’t have working capital to provide as cash margin, they failed to fall within the norms. So, the bank refused to provide them with such a bond. But the seller didn’t lose their hope. They searched for other options to avail MT760.

Assure your Performance with PB MT760 – Apply Now!

Solution: Contacted BWT to Avail PB MT760

While looking for options to avail MT760, he found a new hint. i.e. to get help from trade finance providers. After doing a lot of research to find the best one, he picked the top 5 trusted Performance Bond providers; then, he finally picked “BWT” as the best one.

Further, the seller has gone through our website and read all the info – about our process, products we offer and also our latest transactions etc..  Also, they found that we provide Trade Finance without cash margin. So, without wasting time, they submitted their request to us. Since they were very keen to avail our services; they also called us via phone to discuss their trade deal.

We asked them to send us the SPA of their trade deal and other documents. Further, we did a detailed study on their trade deal. And then, we approved their request for PB MT760. After receipt of all documents and issuance fee, we issued the PB MT760 from our bank account in favor of buyers.

Result: Urea Deal Concluded with Great Success 

Once all the buyers received the bond in their bank account, they issued LC  in favor of the seller as per the terms of the signed SPA to import Urea. The seller on-time shipped Urea at the buyer’s final port as per the agreed time frame. The seller was thankful for the timely help done by BWT in issuing the bond as per their contract terms. They promised to come back for their future trade deals.

Apply for BG MT760,

To get Performance Bond Guarantee without blocking your cash funds, you can contact us with your request. By extending our own bank facilities, we can assist you by providing the required Bond in just 2 days. We have assisted more than 25,000 clients with their Guarantee needs. Submit your requirements now!

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