The Client from Sudan is the local supplier of Refined Cane Sugar in grades of L30, S30, and ICUMSA 45. They used to buy sugar from wholesale suppliers and then supply to the local buyers to earn handsome profit. Recently, the Sudan wholesale buyer contacted us to get the SBLC Payment term to import sugar from India. Read the story to see how we serve the client by providing SBLC Finance.
The client, the wholesale sugar dealer urgently required 25,000 Metric Tons of S30 Grade Sugar to supply it to the local market. There is a huge demand for S30 Grade Sugar, as it mostly used in the process of Sweets and Desserts preparation. So, to make use of this opportunity, the Sugar dealer started searching for reliable suppliers who can supply the required quantity of sugar at the best price.
Further, while searching for the Sugar supplier, the client came across a Facebook post that says, “We supply you 25,000 MT of S30 Refined Cane Sugar of Fine Quality” After seeing this post, the buyer enquired with the Indian supplier. Since the price seems quite okay, they decided to sign the contract with them. Also, at that time, the supplier demanded that the payment term should be SBLC MT760 from any of the rated banks.
To meet the supplier’s demand, the buyer contacted their bank with the SBLC request. Since the credit history of the buyer was not up to the mark, the bank declined its SBLC request and demanded a 100% margin to open the MT760. Since they do not have a 100% cash margin to deposit in their bank; so they started searching for finance providers to finance the sugar deal. But almost all trials ended up with failure. While searching online to find the trade finance providers for Sugar Deal, they found our website on Google. Also, they found that we, Bronze Wing Trading L.L.C. the leading SBLC Providers in Dubai provide SBLC MT760 from European Banks at Zero Cash Margin!
The Sudanese buyer contacted us and provided all the required info related to their sugar deal. Since the buyer’s trade deal matched with our criteria, we approved their MT760 request. The Client signed the service agreement with us and paid the service charges. After that, we structured their SBLC based on the sugar deal with our bank; and sent the Standby LC draft to the client for their approval. Also, the client verified the draft and suggested 2 changes that need to update. Since the corrections are valid, we discussed it with our bank and made the required changes. Further, the client approved the final version of the Standby LC draft and paid the SBLC issuance fee charges. Finally, we proceeded with the Standby Letter of Credit issuance from our European Bank.
As per the supplier demand on MT760 issuance from genuine banks; Further, we issued the SBLC MT760 from one of our rated European Bank Account. Since the MT760 issued from a genuine bank; the supplier felt satisfied and started shipment in bulk 25,000MT S30 Refined Sugar via sea freight.
This is how the SBLC Providers in Dubai facilitated SBLC Payment Term from European Bank on behalf of a Sudanese buyer to import S30 Refined Sugar from India.