Gold prices around the World have decreased swiftly due to unstable market conditions in the last couple of years. Hence, this attracts investors looking for trading openings in this precious metal. Therefore, in this situation investors buy Gold as a way of spreading their investments. While buyers utilize Standby LC (SBLC – MT760) to purchase Gold Bars.
The Challenge: To Import Gold Bars
A U.S. based company wants to purchase Gold commodity but they faced problems to finalize their deal. Since they did not have enough capital to complete their deal. Furthermore, the company also had to provide proof of funds or SBLC to the Gold seller. As, this will in return prove their ability for purchasing the precious metal.
Therefore, to continue with the Gold transaction in their current financial situation they try to approach their banks. As per their seller’s need, they applied in their bank for the SBLC – MT760.
The bank requested them to provide some financial guarantees and cash margin to obtain SBLC. But, the Gold buyers were unable to meet the bank’s requirement. Hence, didn’t qualify to avail such SBLC facility from their bank.
The Solution: Standby LC – SBLC – MT760 provided by Bronze Wing Trading
They contacted their financial consultant to overcome their challenges with their bank. Their consultant instantly suggested Bronze Wing Trading LLC. As they had a wonderful experience working with us earlier and had also concluded such transaction earlier.
We requested the Gold buyer to provide basic details of their transaction. Later on, they provided Sales & Purchase Agreement of their Gold deal to enable us to process their requested Standby Letter of Credit (SBLC – MT760). We promptly established the Standby LC after receiving the requested documents and its issuance fee charges.
Result: The Company positively Imported Gold Bars
The U.S. based Gold buyer was able to procure the Gold Bars effectively. As they provided Standby Letter of Credit (SBLC MT-760) in favor of their supplier as per their contractual obligation.
The Gold received at the agreed refinery. The refinery issued an assay report after examining the Gold commodity. The assay report set the Gold value and its purity.
After receiving the assay report of the Gold commodity. The buyer paid the proceeds of the Gold to the seller to get the ownership of the Gold Bars.
Buyer received the ownership of the Gold and they sold it to their secondary buyers. As a result, they made a good amount of profit.
The buyer highly praised Bronze Wing Trading LLC support in providing of Standby LC (MT760) for their Gold deal.