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 transactions. 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 supplier 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 supplier 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 responsibility 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. 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 happens between two parties unknown to each other.
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 commitment; also, guarantees 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 provide collateral or cash margin to your bank; to open a Standby Letters of Credit? Are you searching for ways to get SBLC MT760 without collateral? Then contact our SBLC finance experts will be the right choice for you!
We, the SBLC Providers in Dubai support traders like you to get their financial instrument; from good rated banks at ZERO Collateral! All you need to do is – just fill out the online application form given on the “contact us” page & submit your request to us. We then, analyze your request and if approved; we will get back to you with a FREE Quote!
No need to provide cash margin or collateral! Our quotes are competitively minimal and our issuance process is very speedy! With us, you can get the Standby Letters of Credit within 48hrs.
Contact us today for more info!
Get SBLC at ZERO Collateral