Bronze Wing Trading, the SBLC Providers in Dubai have supported the UAE gold trader to import gold bars from Ghana by providing Standby LC at ZERO Collateral. Continue reading to know the growing demand for gold, the challenges faced by traders in gold import & the solution we provided for our client.
We all know that Gold is one of the popular merchandise among traders. Most gold traders and goldsmiths of UAE companies are looking to purchase gold bars from Ghana. But only a few of them have liquid cash to import gold; the rest of them are facing difficulties to conclude their trade due to lack of cash & lack of access to financial tools. Recently, a trader who faced didn’t have enough bank facilities to import gold from Ghana contacted us with their Standby LC request. See how we served their SBLC needs!
Problem Faced: No Banking Facility Available for SBLC MT760
The gold trader in the UAE got an amazing deal to import gold bars from Ghana. But to proceed further, the seller required an MT760 as per the sales & purchase agreement. But the buyer didn’t have existing bank facilities. So, they were unable to raise the Standby Letter of Credit from their own bank account.
Challenge: To Find the Trusted SBLC Providers in Dubai
To avail SBLC, the buyer had sought help from various banks; but nothing worked out. This was due to the heaps of alike requests and a long list of requirements by the banks. So, the trader started searching online to find out trusted SBLC providers. Finally, the search ended here at BWT.
We, the SBLC Provider in Dubai have helped many global/local traders to conclude their trade deals promptly. Knowing the integrity of BWT and its services, the gold buyer contacted BWT online with their SBLC request. They submitted the SPA between the buyer and the seller.
Solution: SBLC Providers Helped the Trader to Conclude Their Deal
After having a clear study of the client’s precise requirements, we gave approval for the issuance of SBLC. To discuss further and to understand Standby Letter of Credit, the buyer requested to have a meeting in our Dubai office.
We explained our process in detail. Instantly, they signed the service agreement & paid the admin charges. And then, our team started structuring their SBLC transaction with our bank & provided the SBLC draft for the buyer’s approval. The buyer verified the draft with the supplier and conveyed their approval to us.
Further, the buyer paid the SBLC issuance fee to us. And then, we requested our bank to issue the Standby LC via swift MT760 to the supplier’s bank. And the shipment of the gold bar started as per the agreed SPA.
With the prompt services rendered by us, the UAE-based buyer was really very happy. Finally, they became a good carrier of BWT’s trade finance services.
How to Apply SBLC?
Do you require a Standby Letter of Credit to give payment assurance to your supplier? Is your bank asking for collateral or cash margin holdout to issue SBLC MT760? Contact us today! We can support your import deals by providing Standby LC from Good Repute Bank Accounts at ZERO Collateral!
Submit your requirements to us & get a FREE Quote within 24hrs!
To Avail SBLC without any Cash Margin