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. So, the client searched for other options and finally found us via Google and contacted us with their DLC request. The client has written a detailed email to us by stating their MT700 requirements. Since the client didn’t want to lose the deal, they required LC very urgently. Our team did a careful analysis on their DLC deal. We approved their DLC request and sent the service agreement to be signed to start the work on their MT700 Transaction. The Client signed the service agreement and also transferred the service charges to start processing their MT700 request. We worked with our bank to structure their DLC and sent the LC draft for their approval. Since the LC issued by us met all the contractual terms of the client, they approved the DLC draft and paid the LC issuance charges. Instantly, we instructed our bank to issue the required Letter of Credit to the supplier’s bank via SWIFT MT700. This is how we, the Letter of Credit Providers in Dubai assisted the Client to conclude their trade deal in 24hrs without investing their cash funds! The client felt very satisfied with our prompt service. And they had written a positive review in our website (bwtradefinance.com review’s page), as a note of conveying their thanks and appreciation towards us. The review from our client Mr. Lewis - Malaysia is as follows: Read more Bronze Wing Trading Reviews to know how we are dedicated to serve the trade finance needs of our clients.
Do you require Letter of Credit – LC MT700 to sign new trade deals or import contracts? Submit your LC requirements to us! We can help you by providing LC at Sight from rated banks at ZERO Cash Margin! Comments are closed.
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