SBLC Process

 

Looking to avail Standby Letter of Credit from World Repute Banks? Follow the simple SBLC Process to apply Standby LC – MT760 from European banks at ZERO Cash Margin within 48hrs!

SBLC MT760 Process
  1. The buyer submits the SBLC request by submitting a SPA or a proforma invoice of the trade deal.
  2. Further, our team will study their trade deal. After that, we will inform the party, whether their request is approved or not. If approved, we will ask the client to sign the service agreement & pay the admin charges to start working on their SBLC deal.
  3. Once we receive the admin charges, we will start working with our bank to structure the SBLC; and will send the SBLC draft for the client’s approval.
  4. The client will review the SBLC draft and convey their approval to us; also, they will pay the required issuance fee to proceed with SBLC issuance.
  5. Finally, we will instruct our bank to issue the SBLCs from our own accounts available with European Banks via Swift MT760 in favor of the seller. Also, we will complete the entire SBLC issuance process within 48hrs.

SBLC Process – Standby Letter of Credit

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    Standby Letter of Credit Video

     

    Latest Transaction

     

    SBLC Issued for a Client from India

    A Client from India had an import requirement for PPE Supplies amid the COVID Pandemic. To facilitate the PPE Supplies order from a Supplier in China, they required an SBLC Facility. And our company facilitated the required SBLC through our European Bank Account at ZERO Collateral in just 48hrs.

    Amount: USD 875,000
    Instrument: SBLC MT760
    Validity: 180 Days

     

    Get FREE Quote to Open Standby LC for Your Trade Deal

     
     

    What is SBLC?

     

    SBLC stands for Standby Letter of Credit. SBLCs are issued by a bank to provide payment assurance to the seller. Further, it assures the seller that if the buyer defaults in payment, then the banks will be liable to pay the specified amount as per the agreed contract.

    The bank is undertaking the payment commitment on behalf of the buyer. So, before issuing SBLC, the buyer’s bank will verify the credit quality of the buyer. Once the buyer’s bank is satisfied with the credit history, they will provide a written undertaking to the seller’s bank, assuring the seller’s payment commitment; in case of the buyer’s default on the agreement.

    Since the SBLC is issued after verifying the creditworthiness of the buyer, it stands as a symbol of faith in trade transactions. Also, it acts as proof of the buyer’s financial worth and payment skills. Also, it can serve as a surety to avail credit lines; for those who want to mobilize their business without liquidating their assets.

    For the business, the greatest benefit of having SBLCs is that they can come out from the worst-case scenario at ease. Also, in today’s competitive world, traders face difficulties in competing against bigger and better projects. So, having SBLC can add credibility to the buyer’s profile; also, help them to get the deal awarded with ZERO upfront payment to the seller.

    Standby letter of credit
     

    SBLC Issuance

    Usually, SBLCs are issued as an irrevocable financial tool on behalf of the buyer & in favor of the seller. So, once it has been issued & transmitted via SWIFT MT760, it cannot be revoked or canceled.

    However, it can be transferred or assigned to another party upon written confirmation from the first party. However, the transferring banks must notify the issuing bank of the amount of SBLC transferred with the effective date of transfer.

    Parties Involved in the Standby Letters of Credit

    • Applicant – It’s a client who requests to issue MT760. However, to get the MT760 issued, they should have enough credit lines. Or else, they have to provide financial security or cash margin.
    • Beneficiary – The supplier, who receives the SBLC in their account.
    • Issuing Bank – The applicant or buyer’s bank facilitates the issuance of SBLC.
    • Correspondence / Advising Bank – The bank, who advises the issued MT760 to the supplier’s bank on behalf of the buyer. Further, 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 Standby Letters of Credit

    As a Buyer,

    • You don’t need to provide any collateral or cash margin to us. Also, you don’t need to have a direct relationship with our bank.
    • Having MT760 shows your financial worth to do trade. Also, this may enhance your status to do business with traders both locally and globally.
    • Also, MT760 helps to reduce risks, maximizes production, and also assists to optimize profit.  Further, this makes the local and global trade deals simpler, safer, and secure.

    As a Supplier,

    • Payment is confirmed, if you comply with the T&C’s as per the issued MT760s.
    • In case, if the buyer goes bankrupt or fails; the issuing banks 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.

     

    Get SBLC to Import Goods on Credit Basis

     
     

    How Much Does an SBLC Cost?

    The cost of SBLCs mainly includes commission, processing fee, swift charges, and also the advising fee.

    Further, the SBLC fee may also vary depends upon the tenure of MT760. Mostly, the issuance fee of SBLCs is based on the value of the SBLCs amount. Also, all these charges are covered by the buyer as per the terms between the buyer and the seller. Further, this should also be stated in the issued SBLC.

    Usually, to issue the MT760, you may need to provide collateral or cash margin to protect the bank in a default scenario. Further, the level of cash margin required will largely depend on the risk involved. Also, based on the strength of the business.

    If you are looking to get MT760 without a cash margin, you can contact us with your SBLC request.

    As Genuine SBLC Providers in Dubai, we offer:-

    Deal Conclusion in 48 Hours

    Normally, we conclude the deal 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 affordable than other lenders.

    SWIFT Network

    Also, our bank uses the swift network to transmit Standby LC between banks.

    Are you doing imports and exports? Looking to get MT760 Guarantee to import goods from domestic vendors on a credit basis? Contact Bronze Wing Trading L.L.C. to avail SBLC MT760 in just 2 days!

    Bronze Wing Trading L.L.C., the Genuine SBLC Providers in Dubai offers Standby LC from the Top Banks in Europe. Moreover, with years of exp. our team of experts will structure your trade deal in the right way. So, you will be able to conclude your trade deals without any hassles.

    Above all, we can help you in different ways, that others can’t. Because only we are aware of, what it takes to close your deal successfully. Further, our expert team fully understands the challenges faced by traders; so, we are always available to extend our facilities on behalf of buyers and sellers to meet all their trade finance needs.

    Get in touch with us today to get a Standby Letter of Credit from European Banks at ZERO Collateral!

     

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