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MT760

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What is Advance Payment Guarantee?

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What is an Advance Payment Guarantee? Advance Payment Guarantees are the written commitment issued by a bank; to secure the payments made by the project owner or the buyer; against any default by the contractor or the seller. The main purpose of this bond is to ensure that in case the contractor or the seller defaults in performance; then the client can call the bond; to recover the advance payment made. This is also referred to as a Payment Bond. If a seller or contractor requires advance payment from their buyer or project owner to meet the start-up cost of […]

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What is Import Finance Facility for Trade & How Does It Work?

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What is Import Finance? Import Finance Facility plays a vital role to assist traders to do trade dealings in a safe and secure way without facing financial issues. Trade Finance bridge the trust issues between two parties who are doing global trade by sitting in two different countries. Making use of Import Finance can make cross-border trade easier and less risky by protecting both parties. Trade Finance plays a vital role in global trade. Nearly 80-90% of traders are using trade finances to conclude their trade deals without investing their cash funds. To meet the growing demand for trade finance […]

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Types of Bank Guarantees and Its Definition

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What Are Bank Guarantees? A BG MT760 is an assurance between the buyer and the seller. This assures that if the buyer fails to oblige the payment terms; then they need to make the payments on their behalf. There are different types of Bank Guarantees available for traders and contractors. Guarantee Letters are used in bulk trade dealings such as – purchasing equipment, heavy machinery, raw materials or to get funds to run businesses and so on. Further, to facilitate all these deals, the Banks act as a guarantor that the payment will be made on time; and if not, they […]

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How to Get Bid Bond – Tender Bond Guarantee for Construction Contracts?

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What is a Bid Bond Guarantee? Bid Bond Guarantee is a written undertaking or assurance issued by a bank on behalf of its client. This acts as a surety that guarantees the project owner that the contractor who enters into the contest will oblige the bidding terms if they win the project. And this will increase their chance of winning the tender. Hence, construction contractors often look for options on How to Get Bid Bond Guarantee. Moreover, Tender Bond Guarantee ensures the seriousness of the price quoted by the contractor. Also, it assures the project owner that the contractor has […]

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What Is The Procedure For Applying Trade Finance Facilities?

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Have a million dollars worth of deal pending in your hand? Can’t be able to precede the deal due to lack of cash flow? Most traders don’t always have a million dollars sitting in their bank account, as they utilized it to manage other core businesses. So, to carry out their transaction and to secure their deal, they used to get help from trade finance facilities. Trade Finance Facilities – Definition It acts as a complete solution that includes a wide range of financial tools that helps buyers and sellers to conclude their transaction faster and even secure. The instruments […]

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How Does Trade Finance Work for Importers and Exporters?

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Expanding business means finding new clients & gaining profits. It seems to be easy to earn profits by doing global trade. Even though, today’s market seems to be planned; there are a few risks involved. That’s why Trade Finance Providers have come up with the solution to help traders to secure their trade from risks and to improve the cash flow. What is Trade Finance? Trade Finance states financing for both domestic and global transactions. This term act as an umbrella term that covers a complete solution. Also, it includes -Letter of Credit, SBLC MT760, Bank Guarantee MT760, and Performance […]

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