Millberry Copper comes with high thermal and electrical conductivity and also it can be recycled 100% without any loss. Mostly, this type of copper scraps used in the electrical field, national defense, and machinery. Further, to meet the emerging need for scraps, a Japan trader decided to purchase 4000 metric tons of 99.99% millberry copper. And to secure the deal, they decided to conclude the deal with LC MT700, as the payment term.
The Japan trader posted their copper millberry offer in all B2B portals and Facebook groups related to their scrap import deal. And they received more responses from many scrap sellers all over the world. And, from them, they picked the best one from UK; who is ready to supply up to 1500 MT per month. And then, the buyer contacted the scrap seller to discuss their payment term; further, they both agreed as LC Payment.
To avail LC from their bank, the trader contacted their bank. But the bank asked for a 100% cash margin, as collateral to issue the LC on behalf of them. But they don’t have liquid cash available at that time. So, they decided to get help from LC Providers; who could help them to avail MT700 without cash margin. Further, they posted their requirement on all Facebook Groups related to their copper import.
Since we’re also active in Facebook groups, we received a Facebook alert regarding the trader’s LC request to import copper. So, we respond to the buyer’s Ad by posting our website info and contact details.
Further, getting the response from our end, the buyer visited our website to know more about us. After reading our Case Studies, the buyer felt satisfied; and contacted us with their Letters of Credit request. Further, we studied and approved their request. We signed the service agreement with the client; and asked them to pay the admin charges. Once they paid the charges, we structured their LC as per their deal and sent the draft for their approval. Further, they approved the LC draft and also, they paid the issuance fee. And so, we instructed our bank to issue the LC to the seller’s bank via Swift MT700.
Within the 48 working hours, the scrap seller received the Letter of Credit in their bank account. With LC issued, they shipped the required Copper Scrap in containers to the buyer’s port. Further, the buyer received the millberry copper scrap; and supplied it to local buyers who are in need and earned profits.
This is how the Japan trader concluded their copper deal with the help of MT700 issued by Bronze Wing Trading, the Letter of Credit Providers in Dubai.
Further, if you’re in need of Letter of Credit for the same kind of trade deal, contact us today!
We can help you by providing MT700 from rated banks within 48 hours.