A Chinese buyer required 90 days LC at Sight to import Soyabean meal animal feed from Brazil. Bronze Wing Trading, the Letter of Credit Providers in Dubai provided Documentary LC at Sight valid for 90 Days on behalf of the buyer and in favor of Brazilian seller from European Banks!
90 Days Documentary LC at Sight Requirement
The Chinese buyer specializes in exporting Agro waste products for animal feed such as Soyabean meal, Fish meal, etc. Further, to expand their business and to cover more local markets; they required 5000 MT of Soyabean Meal of animal feed of the best quality.
To meet their demand, they searched for a supplier & found the one from Brazil at the Alibaba B2B portal. And then, the buyer contacted the seller with their request for 5000 MT agro waste products. The supplier was ready to make the shipment of 5000 MT feed on the basis of 2500 MT per month. Further, the buyer discussed with the seller; and agreed to use 90 Days DLC at Sight as the payment term.
The challenge to Avail 90 Days DLC at Sight
The Chinese buyer required LC at Sight on behalf of their company. But due to a lack of cash funds and liquidity, they can’t able to get the required Letter of Credit from their bank. So, they searched for Letters of Credit Providers. They came across many providers of LC at Sight. But almost all asked for a cash margin or any kind of guarantee to issue the DLC on their behalf.
As a ray of hope, the Chinese buyer received a newsletter from Bronze Wing Trading stating, “Get Letters of Credit from European Banks”. Further, after reading the newsletter, the client instantly contacted us and submitted their LC request.
Solution: We Provided LC at Sight
Our team received an email from the client stating their Letter of Credit request. We called the client via phone to know more about their trade deal. We listened to the client’s queries and explained our Letters of Credit process in detail. Since the client felt satisfied with the way we work and signed the service agreement with us. After receiving the service charges from the client, we started the work on their trade deal. Then, we structured their Import LC deal with our bank and sent the Letter of Credit draft for their review and approval.
Further, once we received the draft approval and issuance fee from the client, we proceed to the next step of issuing an MT700 on behalf of the buyer from our Bank account. As per our instruction, the bank issued the Import LC to the seller’s bank via authenticated Swift MT700.
Final Outcome: The Seller Shipped the Agro Waste Products via Sea Freight
Then, after receiving the Letters of Credit, the seller shipped the Soyabean Meal Animal Feed packed in 50 KGs/PP bag via sea freight to the Chinese trader destination port. Further, the Chinese trader applauded Bronze Wing Trading for helping them with their Letter of Credit needs.
This is how, we, the Financial Instruments providers in Dubai successfully supported the trader to import Soyabean Animal Feed with LC at Sight.
How to Open a Letter of Credit?
Do you require 90 Days LC at Sight to import agro products from overseas? Submit your Letter of Credit request to us! Unlike banks, we will not demand you any cash margin to get the LC issued on behalf of your company & in favor of your seller. Our process is very simple & the charges are very less. Contact us today to open a Letter of Credit from Good Repute Banks!
Get LC at Sight for 90 Days From Us!