Looking to avail Standby Letter of Credit from World Repute Banks? Contact Bronze Wing Trading L.L.C.! We can provide SBLC MT760 from European banks at ZERO Collateral. Please follow the SBLC Process given below to get SBLC within 48hrs:
1. At first, the buyer presents the trade deal requirement by submitting a buy and sell agreement or a proforma invoice.
2. Further, we at BWT will examine the trade deal between the buyer and seller. And, also, will inform the party if their request is approved or not.
3. If they meet our terms, we approve their request. And then, we will sign the service agreement with the client. Meanwhile, we will inform the service charges to the client to start working on their transaction.
4. Accordingly, the client signs the service agreement and pays the service charges to us. Then, we will start working on their SBLC request.
5. After that, we will send the SBLC MT760 draft for their review. Further, we will inform the client to provide documents and charges for the issuance of Standby LC.
6. And then, upon receipt of draft approval, the documents and issuance fee, we will initiate the request to issue Standby LC. Being a SBLC Provider in Dubai, it will be issued from our European Bank account via Swift MT760. Also, the entire process will not take more than 48 hours.
Apply for Standby LC
Standby Letter of Credit Video
What is Standby Letter of Credit?
Standby LC is issued by a bank on behalf of the buyer / importer and in favor of the seller / exporter. Further, this SBLC MT760 acts as a payment assurance to the seller. Also, it states, if the buyer defaults, the bank will liable to pay the specified amount as per the contract.
Notably, Standby LC stands as a symbol of faith in commercial transactions. Also, it acts as a proof for the buyer’s financial ability and repayment skills. Moreover, MT760 is commonly used in a trade to acquire goods from a local supplier or foreign exporter.
Standby LC can also serve as a surety to avail credit lines. Further, it’s ideal for those who plan to mobilize their businesses and do not want to use their assets.
Also, MT760 SBLC is issued as an irrevocable financial tool. So, once it has been issued & transmitted via swift MT760 by an issuer, it cannot revoke or cancel.
SBLC can be transferred or assigned to a second party upon written instruction by the first party. However, the transferring authority must notify the issuer with the amount transferred and the effective date of transfer.
In addition, the SBLC follows the latest version of UCP rules under ICC Publication No. 600.
Parties Involved in the Standby Letter of Credit
The client, who requests to issue MT760. However, the applicant must have an adequate credit line to avail SBLC. Otherwise, they have to provide financial security or cash margin to issue the same.
The supplier, who receives the SBLC in their account.
- Issuing Bank
The applicant or buyer’s bank who facilitates the issuance of SBLC.
- Correspondence / Advising Bank
The bank, who advise the issued MT760 to the supplier’s bank on behalf of the buyer. This happens, in case, if the issuing bank doesn’t have a direct relationship with the supplier’s bank.
- Supplier’s Bank
The bank, where the supplier is maintaining their bank account. Also, the advising bank works for the supplier in keeping the fiscal tool in the banking system.
Benefits to Avail SBLC MT760
As a Buyer,
- You don’t need to provide any financial collateral or cash margin to us. Also, you don’t need to have a direct relationship with our bank.
- Having MT760 shows your financial ability to do trade. Also, this may increase your ability to do business with traders both locally and globally.
- Also, MT760 helps to minimize risks, maximizes production, and also assist to optimize profit. Further, this makes the local and global trade transactions simpler, safer, and secure.
As a Supplier,
- Payment is confirmed, if you comply with the terms and conditions as per the issued SBLC.
- In case, if the buyer goes bankrupt or fails, the issuing bank will make the payment for you on behalf of the buyer.
- Issued Standby LC also ensures you will get the payment in a specified currency within a set time period.
Cost of SBLC
The cost of SBLC mainly includes commission, processing fee, swift charges and also the advising fee.
SBLC charges may also vary depending on the tenure of SBLC MT760. Similarly, the issuance fee of SBLC is based on the value of the SBLC amount.
Also, all these charges are covered by the applicant as per the T&Cs between the buyer and the supplier. Further, this should also be stated in the issued SBLC.
As an SBLC Providers, we offer:-
- 48 Hours Delivery
Normally, we deliver the SBLC within 48 hours. i.e. 2 working days from the receipt of documents and the charges.
- Local and Global Reach
We can provide Standby LC to any country to conclude your trade either locally or globally.
- Competitive Rates
Our Standby LC issuance charges are more competitive than other financial institutions.
- SWIFT Network
Also, we use the swift network for the transmission of Standby LC between banks.
Are you running a trading company? Looking for SBLC MT760 to conclude your trade over horizons? Contact Bronze Wing Trading L.L.C. to avail SBLC today!
Bronze Wing Trading L.L.C., the direct SBLC Providers offers SBLC from the Top European Banks. Moreover, we structure your trade deal perfectly. So, you will be able to meet your business goals and protect your business interests as well.
Above all, we can help you in a unique way, that others can’t. Because only we are aware of, what it takes to close your deal successfully.
Being a Standby Letter of Credit Provider, we will be glad to assist you with your SBLC MT760 requirement. Get in touch with us today!