Indian Trader Availed SBLC MT760 to Import 3D Printing Consumables from a Chinese Supplier
Understanding the emerging needs of this digital world, the leading company in India decided to expand his business wings in 3D Printing Consumables import and export. But unfortunately, all their funds were locked in some other businesses. So, they decided to start the new trading business by availing SBLC MT760. And they started looking for suppliers who were ready to supply the printing supplies based on the payment term Standby LC.
The Problem: Indian Trader Required SBLC MT760
The trader started searching for reliable suppliers of 3D printing supplies. They posted an AD in all portals & other market places. Finally, they found a genuine supplier from China via one of the B2B portals. Instantly, the trader sent the RFQ to the supplier. But the supplier doesn’t have enough stock at that time to export. On the other hand, they even don’t wish to lose this trade deal. So, they planned accordingly on what they need to do to get the deal concluded.
The seller asked the buyer to provide an SBLC in favor of them. So that, they can monetize SBLC with their bank to avail cash funds. And with that cash fund, the seller can arrange goods from other principal suppliers and then ship to the main buyer. The buyer also agreed to this and started looking for the ways to avail Standby Letter of Credit MT760 on behalf of their company & in favor of their supplier.
The Challenge: Getting Help from SBLC Providers
The Indian trader stepped into almost all banks, but all had the same demand – cash margin / security. Since all their working capitals and cash flows spread in their core business; they were unable to provide cash margin to get the required MT760 from their bank. So, they decided to get help from private finance providers.
While searching for SBLC providers, they came across with B2B marketplace named “Gulf Business” and found the AD posted by us stating “Avail LC, SBLC, BG & BCL for Importers & Exporters”. After reading the AD, the trader visited the website and fill out the Standby LC Form. And also, they sent a direct mail to us stating their requirement along with the SPA.
The Solution: BWT Provides SBLC In favor of the Supplier
Once we received the request from the trader, our team did a careful study on it to find out whether it’s workable or not – as the buyer requires a Standby LC in such a way that needed to be monetized by the supplier’s end. After careful analysis, we approved their request. The trader signed the service agreement & paid the admin charges.
We started working on their request & sent the SBLC draft for the buyer’s approval. They discussed with the seller; then, provided the approval stating that this was the one they exactly required. We asked the buyer to pay the SBLC issuance fee & to provide the required documents. Once the buyer complies with our T&Cs, we instructed our bank to issue the Standby LC MT760.
Final Result: The Supplier Received the SBLC MT760 In Their Bank Account
Our bank issued the SBLC to the supplier’s bank via authenticated Swift MT760. Since the issued SBLC was from the rated bank; and the supplier maintained a good reputation & good credit score in their bank, the bank approved their SBLC Discounting request. Accordingly, they provided the funds against the SBLC to mobilize the export of 3D printing supplies. With this, the supplier purchased the printing supplies from the principal supplier; and then shipped it to the Indian trader’s destination port.
The client thanked us, as we provided the required SBLC MT760 from a rated bank account in a timely manner. This is how Bronze Wing Trading, L.L.C. the SBLC providers helped the Indian trader to conclude their 3D printing consumables trade deal.
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