A US buyer decided to import Nitrile Gloves from overseas and then supply it to the local market to earn some profits and also to meet the emerging demands for Personal-Protective-Equipment Supplies. Bronze Wing Trading L.L.C., the International Bank Guarantee Providers in Dubai supported the US trader with their Nitrile Gloves deal by facilitating MT760 Bank Guarantee on behalf of their company & in favor of their seller.
MT760 Bank Guarantees Requirement
In today’s environment, many essential medical supplies are in short supply, especially medical gloves. To meet this demand, the US trader decided to import Nitrile Powder Free Medical Gloves from overseas vendors. They searched for a reliable seller by floating their Ads in B2B Portals. Via one of the portals, the US trader found a reliable vendor from Malaysia. The buyer had the requirement of 75,000 Boxes of Powder Free Blue Latex Nitrile Gloves. The supplier agreed to ship the required product in 2 batches; i.e. 50,000 in first and 25,000 in second. Also, the seller asked the buyer to provide an MT760 Guarantee to secure the payment against any default by the buyer.
Since the buyer didn’t want to miss the deal; they agreed to the payment terms of the seller and started looking for ways to get BG MT760.
Challenge: To Avail MT760
The US trader was well aware that the banks would demand a certain percentage of the guarantee value as cash margin. Since already they were facing cash flow issues; they didn’t want to contact their banks. So, as the first option, they started searching for Bank Guarantee Providers; who can support their import by providing BG MT760.
During their search, they came across our website. They visited our website and read our services. Also, they sent a detailed email to us stating their BG MT760 requirement. We replied to their email instantly with a FREE Quote. They felt satisfied with our response; further, they called us via phone to schedule an online discussion in ZOOM Meetings.
How We Helped the Client to Avail Bank Guarantee MT760
Our team had a great discussion with the US trader via ZOOM. We explained our process in a detailed way. We sent our service agreement via email; to get it signed by the client. The client signed the service agreement and paid the service charges. Instantly, we started working with our bank in regards to their BG request. We blocked our bank limit to structure their BG MT760; also, we sent the BG draft for the client’s approval.
The client verified and approved the BG draft; also they paid the issuance fee charges. Then, as the final process, we requested our bank; to issue the required guarantee to the Malaysian supplier’s bank account via SWIFT MT760.
The supplier received the MT760 on behalf of the buyer; and then, started the shipment of 50,000 Boxes of Nitrile Gloves to the buyer’s port.
The buyer conveyed their sincere thanks towards us; for helping them to conclude their Nitrile Gloves Deal without blocking their cash funds.
Our Success in BG Issuance
Since the client required MT760 on an urgent basis; they had done all the paperwork and charges without delay. And this helped us to provide the MT760 Guarantee within 48 hours; as agreed.
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