A UK based trading company wanted to import steam coal to supply their end buyer. For this, they found a potential supplier in Indonesia and signed a contract with them to supply the steam coal. But the problem arose when the supplier demand for 30% advance payment. On the other hand, the UK trader did not have enough cash available to meet the supplier’s demand. So, they discussed with the supplier and finally agreed on payment terms as SBLC MT760
As the UK firm was already aware that they cannot seek help from their bank for the SBLC. Because their bank would demand a 100% cash margin as a backup for their MT760. So, they were struggling to find a solution but they couldn’t find any. At that time, a friend of theirs advised them to look for private companies who can provide them this Standby LC.
The UK trader started searching for companies that provide MT760. As a result, they found BWT via “Google Ads” which caught their attention and led them to us. Further, the trader went through the process of Standby LC mentioned on the website. And so, they were glad to learn that we’re the direct SBLC Providers in Dubai. Also, they found that we can arrange the MT760 towards their coal seller without depositing any cash margin.
And then, they contacted us and explained their trade deal for which they required MT760. After that, they’ve submitted their SPA contract to us via email.
We studied their deal and approved their request. Later, we signed a service agreement with them and asked to provide the needed documents. Further, they visited our office in Dubai to provide all the needed documents. Also, their meeting with our CEO was rewarding and they felt very comfortable with us. We assured that we can be able to provide the required Standby LC. And so, they paid the fee and we did our best to provide MT760 issued copy on the same day to the client. Finally, within 24hrs, the seller received MT760 in their bank account.
The UK trader was happy at the conclusion of the steam coal business. Also, it is proved to be a profitable deal that the trader ever handled in their entire trading career. Further, they were grateful and appreciative of the services rendered by the BWT, as we fulfilled their SBLC request and their deal was carried out with high returns.