Are you facing financial shortages to show your financial strength to your supplier? Follow the simple process to avail Bank Comfort Letter – MT799 from our own European Bank Accounts without blocking cash funds.
A Libyan client had a requirement of Letter of Comfort MT799 to prove their financial ability to import drilling rigs from US. Bronze Wing facilitated their MT799 and had it issued from one of our good rated banks on behalf of the buyer in favor of his supplier to assist the two parties with their drilling rig import deal. With the MT799, the buyer proved their capability to pay for the goods & sign the import contract with the supplier.
Bank Comfort Letter, a written undertaking by a bank to assure the financial capability of their client to sign the contract. Further, this is issued on behalf of the buyer and in favor of the supplier to indicate the buyer’s financial capability to purchase bulk goods or commodities.
In today’s trade industry, suppliers always want to work with a financially competent buyer who can pay for the supplied goods on time without any default. That’s why, before signing the sales contract, sellers usually demand buyers to provide Bank Comfort Letters.
By providing the Bank Comfort Letters, buyers prove their financial ability to purchase the offered products and show their eligibility to do business in the global trade market. Further, it also helps to build a trust bridge between buyers and sellers; which is of utmost importance in overseas trade transactions.
BCL MT799 acts as an inexpensive way for buyers to show their financial strength to complete the purchase of bulk goods. Are you in need of a Bank Comfort Letters to show your financial status to your supplier? Now at Bronze Wing Trading, we offer a simple and easy procedure to facilitate the required MT799 in as fast as 48hrs. Contact us now to get a FREE Quote for your BCL needs!
MT799, known as a confirmation Swift Message issued by a bank on behalf of their client to assure that he /she has enough funds to complete the deal as agreed. However, this swift message doesn’t provide any assurance or guarantee of payment to the counterparty.
If you’re going to import bulk goods from an overseas supplier and you need a BCL MT799 to sign the contract; then we can help you by providing MT799 from a top-rated European Bank.
Usually, Banks may demand tangible collateral to provide a Letter of Comfort on behalf of buyers. But, we at Bronze Wing Trading L.L.C. assist the traders by providing BCL Bank on behalf of their company without obtaining any cash margin.
Once you submit your BCL request to us and all the formalities are done, we will instruct our bank to proceed with the issuance of BCL. And then, based on your trade deal, our bank notifies your supplier via SWIFT MT799. Further, this Swift Message shows your financial ability to buy bulk goods as per the signed contract.
It works for buyer’s company showing their financial capability for purchasing the quantity of product as per their sales contract. This Letter of Comfort relays in the form of a SWIFT MT799. Once the seller received the swift message, they need to provide a valid POP (Proof of Products) to the buyer. Further, this acts as proof that the seller has the products in ready stock, as per the signed contract.
By the time, after receiving the POP from the seller, the buyer needs to provide a Letter of Credit or Standby LC or Bank Guarantee, in favor of the supplier; also, hereby the trade will be commenced.
The cost of BCL usually includes issuance fee, advising fee, transmission fee; also, swift charges. Further, all the charges should be covered by the applicant; also, be paid to the issuing bank, prior to its issuance.
Being an MT799 provider, we know that it is very hard for you to apply for BCL MT799 with a reputed bank; if you don’t have enough cash funds available. This is because, usually, banks will not issue an MT799 without blocking cash funds. So, if you’re not ready with a hefty amount of collateral; and then obviously your bank will decline your BCL request.
Here we come for facilitating BCL MT799 on behalf of buyers by blocking our own bank limits. Bronze Wing Trading L.L.C. has 3 plus decades of trading experience in serving the trade finance needs of clients worldwide. Also, we understand the financial challenges faced by buyers & suppliers when it comes to importing bulk goods from overseas. To support them with their trade finance needs, we are always available by having our own bank facilities available with European Banks.
Do you require BCL Letter from Bank to sign a new trade deal or contract? Contact us today! We provide a quick and simple procedure that will allow you to avail the required BCL MT799 in just 2 days to carry out your business without any hassle. Avail BCL Bank from us and show your financial capability for concluding larger contracts & trade deals!