The leading scrap trader in Morocco contacted Bronze Wing Trading, the Letter of Credit Providers in Dubai to avail Documentary Letter of Credit – DLC at Sight to conclude their used rails trade importation. We helped the trader by providing the required DLC MT700 from our rated European bank account without collateral. Read this story to see how we helped the Indian-trader with their LC requirement.
The Client Required DLC at Sight for Their Trade Deal
The Client is running a Scrap Recycling Unit in Morocco. To expand their product line, they decided to import South Africa Origin Used rails scrap. So, they posted their requirement in B2B portals and started searching for suppliers. They received responses from many suppliers. Among all, the one from South Africa seems to be a trusted one. So, the buyer contacted the supplier with their request of 10000 MT per Month. The supplier was ready to supply the scrap under DLC at Sight as the payment term. Since the offer and price were good & cheap, the buyer agreed to the supplier’s demand.
How the Client Contacted Us with Their DLC at Sight Request
Since the supplier agreed to supply the goods based on the DLC payment, the buyer started looking for ways to avail the MT700. They contacted their bank with the request, but their request was declined, as they weren’t able to meet the banking norms. Then, they searched online to find a way to avail LC MT700 on their behalf. And from search results, they found our blog that says “How to Avail Trade Finance Facilities?” After reading the blog, they found that Bronze Wing Trading, the Letter of Credit providers provide DLC MT700 on behalf of buyers and in favor of suppliers from rated banks without cash margin. Instantly, they submitted their request online by filling the online form on the website.
The Solution We Provide to Issue DLC at Sight on their Behalf
We received the LC request from the client stating their LC transaction. We studied their deal; since, they met our terms, we approved their request. Instantly, the buyer signed the service agreement and paid the service charges. After that, our team structured their LC as per their scrap trade deal, and sent the LC draft for their review. After reviewing the LC draft, the Client called us to clarify few terms from us. Since they got satisfied, they paid the LC issuance fee and provided the related documents to us. And then, we requested our bank to issue the DLC at Sight from our bank account on behalf of the Morocco buyer and in favor of the supplier in South Africa. As per our request, the bank sent the required LC to the seller’s bank account via Swift MT700.
The Supplier Shipped the Used Rails Scrap
After the receipt of DLC MT700 in their favor, the supplier started the shipment of 10000MT Used Rail Scrap via sea freight to the buyer’s port. The buyer conveyed their thanks to us for our service in providing the required DLC MT700 for their deal. Further, they also stated that they will share a positive review for us; also, will highly recommend our service to other scrap traders in their community.
We believe in client satisfaction, and we strive our level best in providing the right trade finance solutions for our clients to make things easier. If you’ve any pending trade deal that requires a Letter of Credit for a successful conclusion, contact us today! We will help you by providing the right solution for your trade finance needs.
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