Global oil demand continues to expand its share across major markets. The Oil and Gas Dealer in Libya decided to expand its production to meet emerging demand in the near future. To stand ahead of the competition, a Libyan trader decided to procure a drilling rig from a reliable exporter. Bronze Wing Trading assisted the trader with a Bank comfort letter in Dubai solution that proves their fiscal worth to purchase oil rigs.
The Client Required BCL Bank
Since the Libyan trader decided to purchase drilling rig equipment to meet their oil demand, they started searching for rig exporters. And they found the one from the U.S. The US exporter demanded the trader to prove their fiscal worth before signing the contract but, the trader was unable to avail MT799 from their bank, due to a few financial constraints. So, they started searching for trade finance providers to avail Letter of Comfort on their behalf.
The Client Found BWT to Avail BCL Bank
The Libyan buyer contacted many sources, but almost all providers demanded a cash margin from them. While searching on Google to find ways to avail MT799 without cash margin, they came across a Bank Comfort Letter Ad posted by us. They got the email address from the Ad and sent their request to us stating their deal.
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The Client Availed BCL Bank from Us
Our team did a careful study on their deal to find out whether they met our terms to process further or not. Since they were qualified, we signed the service contract with them and asked them to pay the admin charges. Further, our bank structured the Letter of Comfort draft as per the trader’s rig deal and sent it to us. Then, we sent the BCL draft for the client’s approval.
The buyer conveyed their draft approval to us and also paid the issuance fee. After receipt of draft approval and charges, we sent a Letter of Comfort request to our bank to issue the BCL on behalf of the Libyan buyer. As per the request, the bank notified the seller via SWIFT MT799. And this affirmed the rig seller that the buyer has enough cash funds available to proceed with the import of drilling rigs.
Get Proof of Your Financial Ability – Apply for BCL MT799
Final Outcome: The Client Felt Satisfied
Since the buyer proved that they have the funds in their account, both the buyer and the seller signed the contract. A few days later, the buyer contacted us with their SBLC MT760 request to conclude their import of drilling rigs.
Being SBLC Providers, we did our best to conclude their deal by providing Standby LC on behalf of the buyer and in favour of their rig exporter.
This allowed the client to conclude their deal faster, while also growing their business. If you’re in need of a Bank comfort letter at Dubai solution, get in touch with us on +971 4561965 or apply online now!
How Do You Get BCL?
To obtain a BCL MT799, you can contact your bank if you are ready to block your cash funds for your trade deal. But if you don’t have enough cash funds, then you can avail the required BCL MT799 from your bank account. In this case, we are here to help you! We can provide you with the required BCL MT799 without blocking your cash funds. Contact us now to get proof of your financial stability.