Letters of Credit are considered to be a very reliable payment option for those who are doing global trade. Since global trading is associated with numerous risks, traders often use LCs to secure their trade transactions. Here, this video talks about Letters of Credit and the process to avail DLC MT700.
While doing business globally, exporters may have the risk of non-payment by the buyer. On the other hand, importers may face the risk of not receiving the goods for which they have already paid. This is where Letters of Credit comes in effect to secure the trade deals.
Letters of Credit, the written undertaking issued by a bank acts as a payment assurance. Further, availing DLC MT700 ensures that the supplier will receive the payment for the supplied goods, as long as they comply with the T&Cs of the issued MT700.
When it comes to global trading, LCs offers security for both the buyer and the seller, because the trade will be commenced upon the security of banks to ensure that payment is received and goods are shipped.
Are you looking to open DLC on behalf of your company? We, the LC providers in Dubai assist traders by providing LCs from our European Bank Account. Follow the Simple LC Process to Open LC from us.
1: Submit your MT700 requirements to us.
2: Further, we will analyze your trade deal and approve your transaction; if you’re eligible to proceed further.
3: And then, you need to sign the service agreement with us and need to pay the service charges to start our work on your DLC transaction.
4: Further, our team of trade finance experts will structure the LC and sent the LC draft for your review.
5: After the draft approval and receipt of DLC issuance fee charges, we will forward your LC request to the bank and request them to issue the required DLC from our European Bank Accounts.
That’s it! Your supplier will receive the DLC MT700 within 2 banking days!
Make your import and export business more profitable by availing LC MT700 from us! Submit your LC requirements here!