We, Bronze Wing Trading L.L.C., the Bank Guarantee Provider in Dubai, help arrange Bank Guarantees – BG MT760 through established banking relationships in Europe. Solutions may be available without conventional cash collateral, subject to transaction review, eligibility, compliance checks and applicable bank terms. To obtain your BG MT760 from rated banks, follow the process below:
A Hong Kong based trader needed a Bank Guarantee to conclude their machinery import deal with a German supplier. We blocked our bank limit on behalf of the trader and provided the required Bank Guarantee, backed by our own bank facility available with a European Bank.
USD 1,650,000
BG MT760
180 Days
Send us your requirement now & get the MT760 issued without cash margin!
Also known as a Bank Guarantee or BG MT760, it’s issued by a bank on behalf of its client, upon their request. When a client wants to enter into a new project or trade deal, they often need a Guarantee to assure their commitment to their counterparty. In this case, the client approaches their bank to avail a BG MT760. The issued BG then acts as a promise to the counterparty that, in the event of default, the bank will meet all financial obligations stated in the contract.
Because a BG provides this level of assurance, most trade dealings today rely on Bank Guarantees to move forward. This BG MT760 helps traders do business and execute trade deals with larger companies, deals that simply wouldn’t be possible without a Letter of Guarantee. That’s exactly what has made Bank Guarantee one of the most popular financial instruments in today’s trade market.
To issue an MT760, your bank will typically require you to block a 100% cash margin or provide third party assurance. Without enough cash funds to put up as collateral, your BG request could be declined. We understand the challenge this creates for traders and contractors trying to avail MT760, which is why we step in, extending our own bank facilities on their behalf and providing the required MT760 guarantee without blocking their cash funds.
So if you have a trade deal ready to go and your bank says no to supporting it, we’ll say yes. Bronze Wing Trading provides Import LC, SBLC, and Bank Guarantees to make that happen, and we’ve already helped more than 25,000 clients globally conclude their deals successfully using our Trade Finance products.
When importers and exporters connect to do business, trust is what holds both parties together. In such cases, that trust becomes much easier to maintain when a third party steps in as a guarantor to absorb any unforeseen risk.
BG MT760 works as an agreement between three parties, the applicant, the recipient, and the bank. The bank promises to cover any loss if the buyer defaults, and through this arrangement, the BG builds trust between traders, making it far easier for them to conclude their deal.
For example:
If a project owner is about to sign a construction contract with a contractor, or a buyer enters into a contract for the supply of goods, they’ll typically require a Bank Guarantee to assure their commitment to the counterparty. This gives the other party confidence that the task will be completed without complications. In the event of a default, the bank is obligated to meet the commitment agreed upon in the contract. It’s worth noting, though, that the BG itself doesn’t guarantee the actual completion of the project or delivery of goods.
If there’s ever a default in the contract and the counterparty needs to claim payment, the BG must be liquidated. To do this, the seller or contractor submits the required documents to the bank as per the contract terms. The bank reviews these documents, and once everything complies, it releases payment to the counterparty as compensation.
Improves credit ratings for issuers of industrial growth bonds, revenue bonds, and commercial papers.
Provides backup facilities for loans granted by third parties.
Assures performance under construction and employment contracts.
With a BG in place, you can spread your working capital across multiple deals, rather than tying it all up in a single project or trade.
There are three types of parties involved in a Bank Guarantee:
Takes on the obligation for payment in the event of a default by the contractor or buyer.
The buyer of goods or services, or the contractor hired to fulfill a contract.
The seller of goods or services, or the company that requires a contractor.
Issued to honor a project or task and ensure its completion within the specified time frame agreed in the contract.
Ensures that the advance payment is returned in case the agreed terms of the contract are not fulfilled.
Assures that the winning bidder will undertake the project and abide by the agreed terms of the contract.
The cost of BG MT760 includes the commission fee, transmission fee, and processing and handling charges. To learn more about costs and other tariffs, feel free to contact us.
Bronze Wing Trading L.L.C. is an International Bank Guarantee provider in Dubai. We provide BG MT760 on behalf of traders and contractors without requiring any collateral from your end.
With decades of expertise in trade finance services, we can assure you the right solution to conclude your deal in a timely way. We aim to be your one-stop solution for every bank instrument requirement as your trade grows.
Having BG MT760 in hand can help you conclude more valuable trade deals and contracts with principal suppliers. So, apply for BG MT760 now and get it issued within 48 banking hours.
A bank guarantee is a bank’s commitment to cover a financial loss if one party fails to meet their contractual obligations, giving the other party a safety net.
Common types include performance guarantees, advance payment guarantees, bid bonds, and financial guarantees, each covering a different stage or risk in a contract.
A letter of credit is primarily a payment mechanism, while a bank guarantee is a safety net that only pays out if the other party defaults.
Requirements vary by bank, and part of a consultancy’s role is structuring the request to minimise the collateral a client needs to put forward.
Validity is tied to the underlying contract and is agreed upfront, ranging from a few months to the full duration of a project.
