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 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 of 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 DLC MT700 from their bank. So, they searched for Letters of Credit Providers. They came across with 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 – DLC MT700 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 trade finance requirement. 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. 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 transaction. Then, we structured their DLC deal with our bank and sent the DLC draft for their review and approval.
Further, once we received the draft approval and issuance fee charges from the client; we proceed to the next step of issuing a DLC on behalf of the buyer from our European Bank account. As per our instruction, the bank issued the LCs to the seller’s bank via authenticated Swift MT700.
Final Outcome: The Seller Shipped the Agro Waste Products via Sea Freight
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 need.
This is how, we, the Bank Instruments providers in Dubai facilitated DLC at Sight on behalf of a Chinese trader to import Soyabean Animal Feed from Brazil.
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