How to Obtain Payment Guarantee without Blocking Cash Funds?
Are you finding it hard to get Bank Guarantee from banks? You’re not alone! As per the statistics revealed in 2021, more than 80% of SMEs lose their trade deals; because of a lack of access to Commodity Finance. If you’re in need of Bank Guarantees to sign a new trade deal or contract, then we can help you to avail a Bank Guarantee from a well-rated bank. Read on to find “How to Obtain a Payment Guarantee Letter without Blocking Cash Funds.”
What is Bank Guarantee?
Bank Guarantee is a written undertaking issued by a bank to undertake the payment risk on behalf of its applicant. Bank Guarantees are mostly preferred while entering into large-scale business deals, carrying out a big project, or receiving advance payment to start working on a project. As BGs give the security of guaranteed payment; MT760s are mostly used in the commodity trade and construction industry to protect the counterparty from any default in making the payment.
Get BG MT760 in 2 Days at ZERO Collateral – Apply Now!
Why Use Payment Guarantee?
When big vendors sign trade deals or contracts with SMEs, they demand SMEs to provide a Payment Guarantee from Banks to safeguard themselves from any financial risks. If the bank issues the Guarantee Letter on behalf of the buyer; then the seller gets assured of payment that even if the buyer defaults in making the payment, the bank will be liable for it. Usually, MT760s helps in the purchase of goods on a credit basis.
Also, this Guarantee Letter stands as a certificate for the buyer’s credit status and payment skills. So, this, in turn, enables them to obtain loans; also helps them to expand their business presence.
Follow the Simple 5 Step Process to Get Bank Guarantees in 2 Days – Apply Now!
How to Get a Payment Guarantee?
If you contact your bank to get Bank Guarantees, they may ask you to block a certain percent of the guarantee value as collateral and will ask you to submit more paperwork. But usually, buyers will not be able to comply with these banking norms. As some buyers didn’t want to block their capital; and others might not be having enough cash in their hands to make a cash deposit as collateral.
So, are you thinking, whether it can be possible to obtain an MT760 without blocking cash funds? Yes, it can be! We, Bronze Wing Trading L.L.C., the Bank Guarantee Providers in Dubai block our own bank limit available with European Banks; also, will provide the required MT760 on behalf of your company in just 2 banking days.
What’s more? Submit your Bank Guarantees request to us and avail MT760 without blocking your working capital!
Get BG MT760 at ZERO Cash Holdout
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