Confirmed LC – LC Providers – LC MT700 – Bronze Wing Trading
-
Upload
ilctradeseo -
Category
Services
-
view
2 -
download
0
description
Transcript of Confirmed LC – LC Providers – LC MT700 – Bronze Wing Trading
Presented by,
www.importletterofcredit.com
Case Study:
Bronze Wing Trading Issued
Case Study:
Bronze Wing Trading Provided Confirmed
LC to a Nigerian Trader
Submit Your Requirements to: [email protected] or Call Us @ 0097145519699 or
Visit: www.importletterofcredit.com
Story Overview
Bronze Wing Trading L.L.C., Letter of Credit Providers in Dubai helped a Nigerian trader to import
PPE supplies from China by providing Confirmed LC.
Problem: Nigerian Trader Required Confirmed LC
Understanding the global demand of PPE supplies in the market, a Nigerian trader decided to
purchase PPE supplies to supply it to the local market and earn more benefits. For that, they
started searching for a supplier and finally chosen the reliable supplier from China. The Chinese
supplier was ready to start the shipment of the supplier as per the agreed contract. But the buyer
didn’t have enough cash funds in their hand for concluding the trade transaction. So, they
discussed with the supplier and they both mutually agreed to conclude the deal by using Confirmed
LC.
Challenge: To Avail LC MT700 from Trade Finance Providers
The Nigerian trader contacted their bank to avail LC MT700 on their behalf. But the bank declined
their request, as they didn’t meet the demands outlined by the bank. So, they decided to avail Letter
of Credit from private financial institution and starting searching online. While searching for Letter
of Credit Providers on Google, they came across with our LinkedIn Profile and contacted us with
their LC request.
Solution: BWT Issued LC MT700 without Cash Margin
Once we received the request from their end, we analyzed their request carefully to find whether
they met all our parameters or not. Since they fallen into our criteria, we approved their request
and asked them to pay the admin charges and to sign the service agreement. After that, we
structured their LC transaction as per the trade deal and sent the LC draft for their review and
approval. The buyer approved the draft and provided the LC issuance fee charges and other
documents related to their trade deal. After receiving all the details from the buyer, we instructed
our bank to issue the Letter of Credit from our bank account on behalf of the buyer. As per our
request, the bank transmitted the required LC to the developer’s bank account via SWIFT MT700.
Final Outcome:
The Nigerian Buyer Received the LC MT700 in Favor of the Chinese Supplier
And the Deal Concluded Successfully!
Read the Full Story