Import Letter of Credit
Bronze Wing Trading is a Limited Liability Company (L.L.C) registered in Government of Dubai, Department of Economic Development and Chamber of Commerce & Industry, Dubai, United Arab Emirates. We are one of the Leading importers & exporters in general merchandise having more than decades of experience in international trade and are direct provider of Trade Finance Facilities from Top-Rated European Banks on behalf of Importers, Exporters & Manufacturers to conclude their Trade Deals. We are specialized in facilitating Trade Finance Services from European Banks for those who do not have enough Bank Facilities to complete their trade transactions. We provide; Import Letter of Credit - LC, MT700 Standby Letter of Credit - SBLC, MT760 Bank Guarantee - BG, MT760 Performance Bond / Performance Guarantee Tender Bid / Tender Bond Advance Payment Guarantee Letter of Comfort / Bank Comfort Letter - MT799 Due to our professionalism & honesty, we have achieved massive trust worldwide and have a huge Clientele among international traders across the globe with the immense satisfaction of our clients from USA, Europe, Africa & Asian countries. With us you will get; Competitive Rates No Collateral Required Deal Close in 24 HRS* We will be at your service immediately once you submit your requirements online to our website. We are here to expand your business & accomplish your business goals to have long term relationship. For Free Quote E-mail us OR visit our website for more information. For Free Quote e-mail us: firstname.lastname@example.org OR Visit our website for more information: www.importletterofcredit.com
Bronze Wing Trading Import Letter of Credit. Bank Comfort Letter BCL (MT-799) also known as Bank Capability Letter, is a letter issued by a bank (provider bank) on behalf of their client /buyer who come into a contract to procure huge quantity of goods/merchandise from a seller confirming their financial ability to fulfill their commitment as per the agreed contract terms & conditions.
It also shows that the buyer has sufficient funds or financially capable to complete the business deal. However, it should be clear that the Bank Comfort Letter does not mean any assurance of payment. If a buyer is claiming that they’re capable financially to purchase a product through their bank by providing this notification via authenticated swift message MT-799, they are indirectly claiming that they have enough cash or the facility to acquire the credit needed to finance the business deal. Bank Comfort Letter is an initial assurance provided by a buyer to their supplier for huge commodity contracts. 1. 2. 3. 4.
Bronze Wing Trading Import Letter of Credit. A Tender Bond is also known as Bid Bond or Tender Guarantee.
This is an undertaking issued by a provider bank for its client to bid a tender in favor of buyer/developer to secure financial risk in case if the successful bidder fails to enter into the contract. In general, when bidding for an export contract, the potential buyer may require the supplier/exporter to provide a tender bond along with their tender submission. If and when a supplier is awarded the tender but fails to formalize the export contract or doesn’t issue supplementary guarantees (usually a performance bond) to the buyer when required, then the buyer has the right to call the tender bond which means that they may demand payment of the bond amount from the bond issuer to minimize their losses.
Bronze Wing Trading Import Letter of Credit. Advance Payment Guarantee, which is issued by a particular provider bank, is a form of security for recovery of the payment made in advance by a buyer/developer under a contract or purchase order if the supplier fails to fulfill its contractual obligations, unable to comply with the terms & conditions which govern the procurement of a specific merchandise or service or fall short in supplying the goods/merchandise specified on their sales & purchase agreement.
It can be utilized in various situations, mostly in import & export trade deals. The APG can also be used in domestic business deals, for example; procurement of heavy machineries/equipments or huge quantity of commodities and construction projects. Advance Payment Guarantee allows the exporter/supplier to collect down payment as per their contract, as well as for the buyer/developer to be protected in case of default or problem under the period of the signed contract. 1. 2. 3. 4.
Bronze Wing Trading Import Letter of Credit. Performance Guarantee Bond is a financial tool that acts as a security to guarantee any claim of the importer/buyer towards the exporter/supplier if and when a default occurs in performance of delivering huge merchandise/commodities in accordance with the sales & purchase agreement.
Bank Guarantee - BG - MT760. Bank Guarantee Procedure We, Bronze Wing Trading L.L.C. can assist you in your commercial transactions by providing Bank Guarantee – BG – MT760.
This will help you to achieve your business goals. Below is the easy process to obtain a BG from us: In the first place, the client will submit the important details of their requirements to Bronze Wing Trading. The documents will also include the signed copy of pro-forma invoice or sales & purchase agreement/contract of their trade deal or project.BWT will assess the commercial transaction that is between buyer & seller or contractors. BG MT760 Process on Video Bank Guarantee – BG – MT760 Information BG or MT760 is an irrevocable commitment issued by a bank on behalf of their customer. Furthermore, BG often helps firms conduct their business with parties they would never get the chance to deal with. Bank Guarantees are issued for a variety of purposes such as; Parties Involve in the BG MT760: There are three parties involved: Bronze Wing Trading Import Letter of Credit. Standby Letter of Credit or SBLC (MT-760) is a written obligation of an issuing bank as a Standby LC provider bank to pay a specified amount of money on their client’s behalf and in favor of a beneficiary in the event that the client/buyer is unable to complete their financial obligation to the seller/beneficiary.
Standby LC is a sign of good faith in commercial transactions and is proof of a buyer’s financial credibility and repayment abilities. Standby LC is commonly used in commodity business, like to acquire merchandise from a local supplier or international exporter. SBLC can also serve as a security to avail credit lines and is ideal for business organization that plans to expand their business and does not want to utilize their assets. Standby LC is always issued as an Irrevocable financial instrument and cannot be revoked or cancelled once it has been issued & transmitted via authenticated swift MT-760 by an issuing bank/provider bank. 1. 2. 3. 4.
Bronze Wing Trading Import Letter of Credit. Avail Letter of Credit (LC) - Standby Letter of Credit (SBLC) - Bank Guarantee (BG)