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. Are you planning to enter into the import-export market? But you don’t want to invest your hard-earned money in your trade deals? Then Standby Letter of Credit will be the right choice for you! How SBLC Works? If you’re planning to purchase goods from your supplier on a credit basis, then your supplier will ask for some guarantee which assures that you will make the payment within the credit period without any default. And this payment guarantee is called as Standby Letter of Credit – SBLC. Standby Letter of Credit proves the creditworthiness of the buyer and also shows their repayment skills. Since the bank is guaranteeing for the payment, suppliers will be ready to ship the goods on a credit basis, if the buyer is ready to provide a Standby Letter of Credit. How to Get Standby Letter of Credit?
If you have decided to use Standby Letter of Credit for your upcoming trade deal, you can get help from your bank to apply for Standby LC. If you have existing bank facilities available and if you’re ready to pay the 100% cash margin, then your bank will be ready to issue SBLC MT760 on behalf of your company. Bronze Wing Trading L.L.C., the SBLC Providers in Dubai is now supporting traders by providing Standby Letter of Credit and other Financial Instruments from European Banks at ZERO Collateral. For more info, contact the SBLC Providers in Dubai via email: [email protected] or Call/WhatsApp/BOTIM: +971-50-4648761 Comments are closed.
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Contact Info:
Office 3002, Aspect Tower, Al Mustaqbal Street, Business Bay, Dubai, United Arab Emirates. 00971-4-5519699 Email: [email protected] Website: www.importletterofcredit.com |