Planning to import goods from overseas and supply it to the local market? Whether you have decided to import garments, agro foods, pharma supplies or machineries, there are certain points you need to keep in mind to make your trading business a successful one.
So, what will be the first thing to be considered? Yes, cash flow! Cash flow is important for all kinds of businesses and it’s more vital when it comes to import and export. But how you will start your import-export business in case of lack of cash flow or non-availability of funds? This article will explain the easy way to start your trading business at low budget. Due to COVID-19 pandemic and also the economy recession happened on tail of it, many traders had faced a lot of issues in their business. Since their cash capitals are tied up in their running business, they didn’t found any other source to sign new contracts or trade deals. That’s the main reason why the demand of trade finance increased once the COVID-19 start settling down.
Recently, a client named Mr. Lewis - Malaysia contacted us with their DLC request. As the client faced shortage of funds to pay in advance, they required LC at Sight to import goods by giving payment assurance to the supplier. They contacted their bank to get the LC MT700 on their company’s behalf. Even though, they had a good credit score and good understanding with their bank, the bank is not ready to open DLC without cash margin. |
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