A Chinese Trader Signed the Contract to Purchase Heavy Machineries by Availing Bank Comfort Letter from Bronze Wing Trading
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Introduction In China, there is a huge demand for Construction Equipment equipped with latest technology. To meet the requirement of the construction industry, a Chinese company decided to start an equipment rental firm by purchasing heavy machineries from a German Supplier. To get the deal concluded, Bronze Wing Trading provided Bank Comfort Letter – BCL MT799 on behalf of their company & in favor of the German Supplier. Problem: German Supplier Demanded Bank Comfort Letter Challenge: To Avail BCL MT799 On Behalf of the New Startup Firm Solution: BWT Facilitated BCL MT799 Problem: German Supplier Demanded Bank Comfort Letter A Chinese equipment rental firm decided to purchase heavy machineries from a German Supplier. For this, the supplier asked the buyer to provide the Proof of Funds to verify whether the buyer is financially capable to purchase the machineries as per the signed contract. The Chinese trading company agreed to the supplier’s demand and started the process to avail Letter of Comfort on behalf of their new start up. Challenge: To Avail BCL MT799 On Behalf of the New Startup Firm The Chinese trader contacted their bank with a BCL request. Even though, the company had a good repute, the bank declined their request to provide BCL, as they requested the BCL on behalf of their new startup. So, as the next process, the Chinese trader contacted many private sectors, but all asked for cash margin more or less. Since the trader’s working capital was spread in their core business, they were unable to provide cash margin instantly to proceed with their request. The Trader discussed the situation with their business partners & colleagues to figure out the solution for the problem. One of their colleagues named Lian Kang (Our Past Client) referred BWT. The Chinese trader admired by the word of mouth referral and immediately contacted us to fix an appointment with us to discuss their BCL request in-person.
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Solution: BWT Facilitated BCL MT799 Bronze Wing Trading scheduled the meeting and the client visited our office in Dubai accordingly. The Client had a fruitful discussion with our CEO and they felt very satisfied with our approach. So, on the same day, after the meeting, the client signed the service agreement & paid the admin charges to start the work on their transaction. They provided all the documents & we assured that we would issue the BCL MT799 within 48 working hrs. To keep our words, our bank structured the BCL Draft and sent it to us for the client’s approval. We received the BCL Draft approval from the client & the BCL issuance fee charges. After that, we instructed our bank to issue the required BCL on behalf of the Chinese company. And within 48 working hours, the supplier received the requested BCL MT799 in their bank account via authenticated Swift MT799. Final Result: The Supplier Sent the POP and the Deal Concluded Successfully Once the supplier received the BCL in their favor, they forwarded the POP (Proof of Product) to the buyer’s bank. After seeing the POP of the heavy equipment, the buyer again contacted us with their required LC MT700. We processed the same way for the issuance of LC MT700 on behalf of the buyer & finally the deal concluded successfully!
Looking to Avail Trade Finance Services to Conclude Your Trade Deal? Contact Us Today! We Provide LC, SBLC, BCL, & BG from Rated Banks! Contact Details Address: Office 3002, Aspect Tower, Business Bay, Dubai, UAE. Visit Us: www.importletterofcredit.com Email Us: support@importletterofcredit.com Call Us:
00971-4-5519699 Submit Your Requirements to us: support@importletterofcredit.com Visit https://importletterofcredit.com/bank-comfort-letter