BWT Signs SBLC Transaction with Dubai Trader
We are pleased to announce that we are working on SBLC Transaction for a Dubai based Trader to support their Security Cameras import needs. We have signed the deal to issue SBLC MT760 from our European Bank account. That is to say, the facility which we are going to extend will help the trader to conclude their import deal; certainly, without facing further cash flow issues.
Recently, we have signed a service agreement with the trader; to start working on their SBLC transaction. The Client owns a well established Security CCTV Camera distribution firm in Dubai with a huge customer base. Further to expand their business, they have decided to purchase more from a leading vendor.
They require a huge volume of different types of CCTV cameras; including Thermal Cameras, NVR’s, DVR’s and AI-Based CCTV. And for this, they require more bank facilities for their business expansion. But, their bank facilities are exhausted; also, their bank said “NO” to extend further without tangible collateral. So, they approached us with their request. The Managing Director of CCTV Distribution Firm in Dubai visited our office in Business Bay.
Client Signed the SBLC Transaction
Mr. Muhammad Ismail, the CEO of Bronze Wing Trading L.L.C. in Dubai provided a good consultation on how to cope up with the high sales demand; without investing much capital. Also, he advised the client; that they can use either Standby LC or Bank Guarantee for their business expansion. As a result, the client felt happy with our advice. Further, they get the approval for SBLC from the seller; who is having their head office in China. Now, everything is moving well. And, we are working on the process to issue the SBLC valid for one year from our rated bank account.
Further, our CEO said, “This is exactly the type of client with whom we want to do business; because we see the potential and path for progress in them. Further, working on this transaction will validate our position across the Middle East in supporting SMEs; with their trade finance needs.”
For more info on Standby Letter of Credit, you can visit our website or send us an email.
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