After the recession in the economy, the leading automobile dealer in China has planned to expand its car sales business to make more profit out of it. For that, they decided to import cars from Germany. So, to conclude this deal, Bronze Wing Trading, the SBLC Providers in Dubai facilitated SBLC MT760. And this helped the trader to avail Import Credit / SBLC Credit facility from their bank to import cars from the German supplier.
After COVID 19 crisis, the Chinese car dealer wanted to get their business back to normal. So, they decided to expand their showroom by importing cars from Germany. But to make the deal work out, the dealer doesn’t have enough cash funds in their hand. So, they contacted their bank for help. The bank said “No” to the dealer, as they didn’t meet their demands. Anyhow, since the dealer was a valuable client of the bank and their credit history was good, the bank provided a solution to the dealer that they can get the credits; if they have a Standby LC on their behalf. Further, the dealer started searching for SBLC Providers to open Standby LC in their favor without blocking any cash funds.
The Car Dealer started searching online to avail MT760 from world repute issuers. Further, while searching online, they found Bronze Wing, the SBLC Providers in Dubai. Also, they found that to avail Standby LC from us, there is no need for collateral and only admin fee and issuance fee were required. Since they felt satisfied with our service, they called us via phone to discuss further. We listened to their queries and asked them to send an email to us along with their trade deal info. Further, receiving the email from the client, our team did a careful study on their email.
Since we had to clarify some queries with the client, we thought it would better to discuss them in-person. Since many countries have imposed curbs on flight travel, we decided to have a meeting via Google Meet. Accordingly, we discussed with the client and arranged for a virtual meeting. Further, the client explained that they required SBLC in such a way that they can use it to avail Import Credit Facility from their bank. We understood their requirement and approved their request. Further, we signed the service agreement with them and they transferred the admin charges to our account. And then, we initiated the work on their transaction and sent the SBLC draft for their review. Finally, they approved the draft and paid the issuance charges to our bank account. And instantly, we requested our bank to issue the required Standby LC from our bank account via MT760.
The Client was extremely happy with the trade finance services offered by us. Also, they extended their thanks to our entire team for helping them to avail of the import credit facility from their bank. And this is how we helped the Chinese Car Dealer with their importation of cars from Germany by providing SBLC MT760.