Standby Letter of Credit is the written undertaking issued by a bank to assure the supplier that the buyer will make the payment on time within the credit period. It also assures the supplier that in case if the buyer defaults in making the payment, then the bank will be liable to fulfill the payment obligations, as agreed between the buyer and the supplier.
While dealing with large vendors for the purchase of bulk commodities, the suppliers will demand the buyers to provide Bank Guarantees. This is to show the buyer’s commitment in making the payment without any default. Are you planning to deal with overseas suppliers for your import and export requirements? Is your supplier demanding a Guarantee from you? Now getting Bank Guarantees is very simple and easy with the help of Bronze Wing Trading, the Bank Guarantee Providers in Dubai. Recently, a client named Mr. Mathew Seth contacted us with their BG request to import cars from Germany. Continue reading this blog to know how BWT served the BG requirements of the client.
Trade Finance signifies the financing option available for traders to conclude their import and export needs without unlocking their cash funds. This type of financing options is being used by nearly 90% of global trade deals. Mostly, when it comes to fiscal support, Banks are the only option available for traders to avail the required financial facilities to conclude their deals.
The world of global trade has been significantly growing at an increasing rate. Nowadays, all the developed and developing countries are indulging in import and export of goods and services to meet the emerging consumer demands in their country. However, to make these trade transactions to operate in a smooth way, importers and exporters often opt for trade finance services. The use of trade finance services not only just make global transactions easier, but also facilitate international trade without monetary issues, glitches or hassles.
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