An Indonesian buyer join hands with Bronze Wing Trading, the SBLC Providers in Dubai for the issuance of MT760 SWIFT Message to purchase Solar Street Light. Watch the video or read this write-up to know our Standby Letter of Credit issuance process.
What is an MT760 SWIFT Message?
MT760 SWIFT Message is the bank notification that can be sent from an issuing bank to an advising bank with the details of SBLCs or Bank Guarantees. SBLC MT760 is mostly used by traders in local and global trade transactions.
Standby LC – MT760 is defined as a written undertaking issued by banks to ensure that the buyer will meet all the financial terms without any default. Also, it assures that in case of any unforeseen events; the banks will be liable to fulfill the terms as agreed in the contract. Since the banks are acting as a guarantor, having SBLC can improve buyer’s credit status in the global trading market and also proves their payment skills. Therefore, all these will help buyers to import goods on a credit basis using SBLC.
Requirement of SBLC MT760 SWIFT
An Indonesian buyer had an urgent requirement for Panasonic LED 50 watt Solar Street lights. Since the buyer didn’t have enough cash funds to pay the supplier instantly, they decided to conclude this deal using SBLC MT760.
Hence, they don’t have any credit lines available in their bank account, they contacted Bronze Wing Trading, the SBLC Providers in Dubai with their SBLC Request.
To discuss this in person, the buyer visited our office in Business Bay, Dubai. Further, our team welcomed the client and we both had a fruitful discussion in regards to SBLC issuance. After the meeting, the client felt satisfied with our service. So accordingly, they signed the service agreement & paid the admin charges.
Our SBLC MT760 SWIFT Issuance Process
Right now, the client has paid the admin charges. Therefore, as of now, we have started structuring their SBLC with our bank for their street light deal. After that, we will send the SBLC draft to the client for their approval. Once the client approves the SBLC draft and pays the issuance fee charges; we will instruct our bank to issue the required SBLC MT760 from our own European Bank Account on behalf of the Indonesian buyer.
While talking about this SBLC transaction, the CEO of BWT stated; “It’s our honor to give a warm welcome to our client from Indonesia. Also, we feel proud to serve the Standby LC transaction for their street lights purchase deal.
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Do you require SBLC MT760 to purchase goods from your local vendor on a credit basis? Contact us today! We have years of expertise in assisting traders to get Standby LC from European Banks at ZERO Cash Margin!
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