Bronze Wing Trading’s Case Study: DLC at Sight Issued On Behalf of a Moroccan Trader to Import Used Rail Scraps
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The Client’s Requirement: The Client, who runs a recycling factory in Morocco, had an urgent requirement of 10000MT of South African Origin Used Rail Scrap to expand their product line. They posted their scrap requirement in many portals and chosen the reliable supplier from South Africa. The Supplier was ready to ship the required quantity of scrap, but under the payment term – DLC at Sight. The buyer agreed with the supplier’s demand and decided to avail DLC at Sight on behalf of their company. The Client’s Challenge: The Client contacted their bank with the LC request. Since the client didn’t have any banking facilities available, and also, since they had no cash funds available to provide as cash margin, the bank declined their request. So, they searched for some private companies to issue LC MT700 on their behalf. While searching online to find private trade finance providers, they came across our blog post saying, “How to Avail Trade Finance Facilities” and contacted us with their request. Our Solution: Once the client submitted their LC request to us, we studied and approved to issue LC MT700 on behalf of their company. The client signed the service agreement and paid the service charges to us. After that, we structured the LC, as per their trade deal, and sent the LC draft for their review. Once they approved the LC draft and paid the LC issuance fee charges, we requested our bank to issue DLC at Sight on behalf of the buyer and in favor of the supplier. The Supplier received the DLC at Sight in their favor. They started the shipment of used rail scrap to the buyer’s destination port, as agreed in the contract. Deal Concluded Successfully With the DLC at Sight Issued by Bronze Wing Trading from Their European Bank Account. Read the Full Story – Click Here For More Info, Contact Us Today! Visit: www.importletterofcredit.com Follow Us On: