If you are in the process of applying Standby Letter of Credit, the first thing that strikes your mind “Can SBLCs be issued without Collateral?” Watch this video given or read this blog to know the Standby Letter of Credit Process which answers your question “how to get SBLC SWIFT MT760 without collateral?”
What is SBLC SWIFT MT760?
Standby Letters of Credit has been used as a payment method for both local and global trade deals. For instance: if a buyer is looking to import goods from a local seller; then, they can make use of SBLC as a payment term to assure the seller that they will make the payment on a credit basis. This SBLC also assures the supplier that they will receive the payment within the due date.
In case, if some unforeseen situation such as bankruptcy, insufficient cash flows arises and this stops the buyer to pay the seller on time. In case of this kind of adverse effect, the bank will make the payment to the supplier on the due date and it’s the buyer’s liability to pay back to their bank – the principal amount plus interest as agreed with the bank.
The demand for SBLC SWIFT MT760
Standby Letters of Credit acts as a legal undertaking letter issued by a bank on behalf of its client. Also, this provides a guarantee of its commitment to pay the seller, if its client defaults on the agreement.
By acting as a kind of Bank Guarantee, the demand for SBLCs is ever-increasing and frequently used in global and local trade transactions which happen between two parties unknown to each other.
Further, by providing the better option to come out from the worst-case scenario, SBLCs serve as a payment at last resort which helps buyers to meet their financial terms. Also, assures the seller that they will receive the payment on the due date.
Can SBLC MT760 be Issued without Collateral?
After knowing the advantages of SBLCs, have you decided to apply for Standby LC? But are you facing a lack of cash funds to open a Standby LC from your bank? Are you searching for ways to get SBLC MT760 without a cash margin? Then contacting our SBLC experts will be the right choice for you!
SBLC Providers in Dubai,
Bronze Wing Trading, the SBLC Providers in Dubai support traders like you to get the required Bank Instruments from Good Repute Banks! No need to provide cash margin or collateral! Our quotes are minimal and our issuance process is very speedy! Also, with us, you can get the SBLC MT760 within 48hrs.
All you need to do is – just fill out the SBLC Application Form & submit your request to us. We will study your request and if approved, we will get back to you with a FREE Quote!
Get SBLC at ZERO Collateral