04 Oct Standby Letter of Credit Provider (SBLC MT760)
Standby Letter of Credit Provider (SBLC MT760) – Grand City Investment Limited
Standby Letter of Credit Provider (SBLC MT760)
Grand City Investment Limited is the leading Standby Letter of Credit Provider (SBLC MT760) in the world.
Who is a Standby Letter of Credit Provider (SBLC MT760)?
A Standby Letter of Credit Provider (SBLC MT760) is a financial services provider such as Grand City Investment Limited that provides Standby Letter of Credit Provider (SBLC MT760) and other bank financial instruments to its customers. The financial instruments such as SBLC, Bank guarantees and letters of credit can be used to obtain loans from banks, they also can be used for trade finance as well as import and export transactions.
What Is Standby Letters of Credit?
A Standby Letter of Credit also known as (SBLC) is an irrevocable commitment or guarantee of payment by a bank or other financial institutions on behalf of their Client or in favor of the Beneficiary. Very much like Bank Guarantee, a Standby Letter of Credit can be used by Buyer as collateral to secure a Loan or Credit Facility or to make purchase in foreign business transactions. SBLCs are very flexible instrument for all types of business. It can cover anything from an ordinary guarantee commitment to a more sophisticated financial instrument.
Standby Letter of Credit / SBLC Provider
As top financial instrument providers, SBLC from Grand City Investment Limited can be useful to both importers and exporters to buy more goods from foreign producers and manufacturers. SBLC is one of the most sought after tool in foreign trade transactions.
‘Leased’ SBLCs is term used when a Bond/Security is transferred for certain duration to Client or in favor of the Beneficiary to act as Collateral Security to secure a credit facility or loan. This process is called a Collateral Transfer…
SBLCs are mostly issued to profitable companies with strong balance sheets and a proven trading history; Grand City Investment Limited being an experienced SBLC provider adopts this process of Collateral Transfer or the Syndicate enrollment to position Client to access these financial Instruments via their Issuer bank platforms, as long as they can afford the interests and costs of issuance.
SBLC Monetization – Monetize Bank Instruments Such As BG & SBLC
Grand City Investment Limited are also SBLC monetizers, we can monetize any bank instrument from rated banks. We cannot monetize bg / sblc from unrated banks because they are unattractive and their value / LTV is very low. So if you want to monetize your instrument to fund your project or for humanitarian projects, make sure that the instrument (BG/SBLC) is from a prime bank.
SBLC monetization is the process of liquidating a standby letter of credit (SBLC) by converting them into cash. As SBLC Monetizers, we monetize Bank Guarantees (BG’s), Stand-By Letters of Credit (SBLC or SLOC), Bank Draft, Medium Term Notes (MTN’s) and some Long Term Note (LTN) for our clients.
So SBLC can be structured to act a a Loan Security. In the event that Client wants to secure a Loan or funding and have access to an SBLC, we will engage our Lender platform to obtain a Credit Facility. This Facility must be secured and collateralized by a cash backed SBLC. If does not have a qualifying SBLC then, Grand City Investment Limited can engage their Issuer bank to set-up Guarantee Facility in favor of client to act as their Issuer. Therefore, Grand City Investment Limited can incorporate a Bilateral Funding Program where we can merge services of our Issuers and that of our Lenders to avail Monetized Loan Funding.
NOTE: Qualifying Instruments
- The instrument needs to be a Asset/Cash Backed Bank Instrument, such as a BG or SBLC.
- The Bank needs to be a World Top 25 Bank with a “A+Bank-Rating” or better.
- The instrument must be transferable and will need to be transferred to the lender via MT799 or MT760.
Monetize Bank Instruments – SBLC Monetization Monetization
In order to monetize an SBLC (SBLC Monetization) you must be in possession of the instrument and it must be paid for prior to monetizing (Obtain a Bank Confirmation Letter from your issuer saying they are RWA to issue to Lender Bank for monetization). The Benefits of Monetized funds include
- Use Standby Letter of Credit (SBLC or SLOC) as Loan Security
- Finance Trade Facilities
- Offset Tax and Debt Liabilities
- Free-up Locked (or blocked) Funds
- Create Fixed Returns
- Verification & Due Diligence Services
Bank Instruments such as Letters of Credit are frequently used but seldom properly understood. Whilst these ‘instruments’ are utilized in conventional trading on a day to day basis, they can also be employed in complex financial structures designed to maximize financial positions and bespoke to each individual requirement.
Through existing credit relationships, Grand City Investment Limited is able to accommodate bank obligations such as Bank Guarantees, Standby Letter of Credit as well as facilitate credit line and monetization of these Guarantees.
The SBLC may allow the beneficiary to obtain payment from a financial institution even when the applier for the credit has neglected to perform as per bond, a key principal with this instrument is bank deal only with documents or good, and the bank do not involve themselves in the commitments or contracts between the two parties directly, the advantage of this system is the bank don’t check the reliabilities of the project. The concern of the issuing bank is the term and the condition of the credit itself. The decision of the Bank Instrument is based entirely on whatever the documents submitted to the bank appears on their face to comply with the term of LC Bank Instrument.
As genuine bank instrument providers, our Global network specializes in the Monetization of almost any type of Bank Financial Instrument worldwide from 5 Million to 5 Billion Dollars. Offering up to 80% of LTV, with 3% APR interest charges due yearly, facility / loan terms up to 10 years.
We offer a fast completion process of between 7 to 14 working days.
Where do we use the Standby Letter of Credit (SBLC)?
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Standby Letter of Credit (SBLC) / SWIFT MT799 / SBLC SWIFT MT760Finding Genuine BG & SBLC Providers CRITICAL INFORMATION: Banks DO NOT issue Bank Guarantees / Standby Letters of Credit. Simply put, the bank is the Deliverer of the BG/SBLC instrument. Bank is never the Initiator of the Transaction |
How to spot a fake SBLC provider and other Bank Instrument Providers
Organizations trying to “lease” or “buy” bank instruments ensure you are managing genuine, real and performing providers. You have to be very sure that the financial or the bank instrument provider that you are relying on is not a fake one, and they are providing you genuine services. The Fake SBLC provider mostly will give you all kinds of guarantee of a performing SBLC and will tell you all the benefits thoroughly. It is extremely difficult to spot a fake bank instrument provider from a real one and you have to be really attentive towards to the details.
How to spot Fake BG provider – Grand City Investment Limited
However, if you are new to this. Here are a few ways you can spot a fake SBLC provider –
1. DOA with grammar botches, made out of different bits of different kinds of agreements.
2. A few titles ascribed to one gathering: “Renter – the buyer – recipient” across the board contract. “Lessor – Seller – Provider” across the board contract.
3. Non Verifiable information of the instrument supplier. The false website, national telephone numbers obtained from Skype, organizations enlisted in the seaward zone, fake LI profile(s) of the “supplier’s group” and so on.
4. ICBPO to be issued by the Lessee’s bank for the Lessor. This convention is illegal by the vast majority of the world banks on account of the abnormal state of fraud around it. By issuing ICBPO the Lessee’s bank resolves to exchange assets to the Lessor paying little respect to the consequences of the renting exchange.
5. The title or the name of the expense accepting record is different from the title/name of the instrument issuing account. Bonafide Lessors may pick different records to get renting expenses and issue bank instruments however in the event that these records are under the names of different elements, run!
These are just a couple of signs to specify… Brokers movement advancing so-called “providers”, before you spend your significant lifetime, cash and vitality to advance the “supplier” you found on the web please make your DD over such a “supplier” and ensure that you are managing the bonafide and evident source. By promoting fake sources, you ruin your notoriety and lose the trust of your customers.
To submit a Bank Instrument or Monetisation request; please complete the application form
Below is a standby letter of credit (SBLC) sample in swift format along with short descriptions of standby letter of credit.
As explained above, a standby letter of credit is the bank’s undertaking of fulfilling the applicant’s obligations.
A standby letter of credit is issued as collateral and is therefore not intended to be used as a primary payment method, unlike a commercial letter of credit.
A standby letter of credit will be liquidated only if the applicant default of its responsibilities under the underlying contract. As a result, the standby letter of credit serves as a secondary payment option.
On today’s post, I would like to share a standby letter of credit sample in swift format.
Recently I have explained the reason why I have started to put sample letters of credit on my website.
Please read our previous article titled “ How To Find Genuine Bank Guarantee (BG) Providers” to understand how to find Genuine SBLC Providers.
I also highly recommend you to read “ Difference Between Swift MT799 And Swift MT760” – “about the different types of bank swift messages that is used in transmitting bank guarantees and standby letters of credit, between banks and other financial institutions” before starting to study this standby letter of credit sample.
*********************SWIFT AUTH. CORRECT***********************
Bcode:00980
BIC : CDCSUS33ENJ – CDCS BANK , N.A.
Transfer Date/Time : 2012-08-10-09.30.53.197333
Type: 700 Pri. :02
ISSUE OF A DOCUMENTARY CREDIT
****************************ME
MESSAGE BODY
27: Sequence of Total
1/1
40A: Form of Documentary Credit
IRREVOCABLE STANDBY
20: Documentary Credit Number
DC46492
31C: Date of Issue/Transfer of The Credit
120824
40E: Applicable Rules
UCP LATEST VERSION
31D: Date and Place of Expiry
130610 AT OUR COUNTERS
50: Applicant
NORTH AMERICAN IMPORTER OF BEVERAGES INC.
3775 PARKINSON STREET, UNIT 25
EDISON AND TESLA, NJ 08000 USA
59: Beneficiary
ITALIAN COLD BUT HOT DRINKS SRL.
INDUSTRIAL AREA
39000
MILAN – ITALY
32B: Currency Code / Amount
USD500000,
39A: Percentage Credit Amount Tolerance
10/10
41D: Available With … By …
CDCS BANK, National Association
BY PAYMENT
42C: Drafts at..
SIGHT
42D: Drawee
CDCS BANK, National Association
47A: Additional Conditions
KINDLY FORWARD TO YOUR BRANCH : MILAN COMMERCIAL BRANCH ITALY BENEFICIARY’S COMPLETE NAME AND ADDRESS: ITALIAN COLD BUT HOT DRINKS SRL.INDUSTRIAL AREA 39000 MILAN – ITALY
WE HEREBY ESTABLISH OUR IRREVOCABLE STANBY LETTER OF CREDIT NO 18117915-00-000 IN FAVOR OF BENEFICIARY FOR THE ACCOUNT OF NORTH AMERICAN IMPORTER OF BEVERAGES INC.IN AN AMOUNT NOT TO EXCEED USD500.000,00(FIVE HUNDRED THOUSAND AND 00/100 US DOLLARS)PLUS OR MINUS TEN PERCENT, AVAILABLE FOR PAYMENT AT OUR COUNTERS AT 200 SECOND AVENUE, 3RD FLOOR, BANKING HEAD QUARTER BUILDING PITTSBURGH USA AVAILABLE BY BENEFICIARY’S SIGHT DRAFT DRAWN ON CDCS BANK , NATIONAL ASSOCIATION, ACCOMPANIED BY BENEFICIARY’S STATEMENT AS FOLLOWS :
“I (INSERT NAME AND TITLE) CERTIFIED THAT I AM AN AUTHORIZED REPRESENTATIVE OF ITALIAN COLD BUT HOT DRINKS SRL. AND HEREBY DEMAND PAYMENT OF USD (INSERT AMOUNT) UNDER CDCS BANK , NATIONAL ASSOCIATION LETTER OF CREDIT NO 18117915-00-000. I FURTHER CERTIFY THAT THE AMOUNT OF OUR DEMAND REPRESENTS THE AMOUNT DUE US AS A RESULT OF THE FAILURE OF NORTH AMERICAN IMPORTER OF BEVERAGES INC. TO PERFORM IN ACCORDANCE WITH CONTRACT ORGANIC FOODS SALES PROGRAMME 2012-2014 FROM MILAN ITALY TO NEW JERSEY USA.
DRAFTS DRAWN UNDER THIS LETTER OF CREDIT MUST BE MARKED : “DRAWN UNDER CDCS BANK, NATIONAL ASSOCIATION, STANDBY LETTER OF CREDIT NO : 18117915-00-000 DATED 12.AUGUST.2012.
PARTIAL DRAWINGS ARE PERMITTED.
THIS LETTER OF CREDIT WILL EXPIRE AT OUR COUNTERS 200 SECOND AVENUE, 3RD FLOOR, BANKING HEAD QUARTER BUILDING PITTSBURGH USA ON MAY 01.2013 AT 5.00 PM EASTERN TIME.
THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (2007 VERSION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO 600.
WE HEREBY ENGAGE WITH YOU THAT DRAWINGS PRESENTED UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS CREDIT WILL BE DULY HONORED.
71 B : Charges and Fees
OTHER THAN THE ISSUING BANKS ARE FOR THE ACCOUNT OF THE BENEFICIARY. ISSUING BANK’S CHARGES ARE FOR THE ACCOUNT OF THE APPLICANT.
49 : Confirmation Instructions
Without
SAC
*****************************E
Description of Bank Instruments:-Bank Guarantee {BG} / StandBy Letter of Credit {SBLC}
1. Instrument: Fully Cash Backed Bank Guarantee {BG} / StandBy Letter of Credit {SBLC}
2. Total Face Value: Eur/USD 1Million (Min) to Eur/USD 5 Billion (Max)
3. Issuing Bank: HSBC London/Hong Kong, Barclays Bank London, Citibank New York, Deutsch Bank Germany or any AAA Rated Bank.
4. Age: One Year and One Day (with rolls and extensions where applicable)
5. Leasing Price: 4% of Face Value plus 2% brokers commission (Applicable only if there are brokers in the transaction)
6. Delivery: SWIFT MT-760
7. Payment: MT103 Swift Wire Transfer
8. Hard Copy: Bank Bonded Courier within 7 banking days.
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Our bank instrument can be engaged in PPP Trading, Trade Finance, Import & Export Transactions, Discounting and Monetization, signature project (s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kinds of projects.
As leading sblc providers, we deliver with time and precision as set forth in the deed of agreement (DOA). Our bank guarantee and Standby Letters of Credit terms and Conditions are reasonable, below is our instrument description.
Once the transaction is in progress, we ensure we keep you posted on the progress of your paper. Instead of stressing yourself out looking for a financial instrument or company why not let professionals like us deliver financial instruments to you within the time frame required by you.
OUR SERVICES ARE:
Loans: (Non Recourse Loans, Business Loans, Secured Loans, Unsecured Loans, International Project Financing)
Purchase Bank Instruments (Bank Guarantees and Standby Letter of Credit)
Lease Bank Instruments (BG, SBLC, DLC, Letters of Credit)
Letters of Credit (DLC, L/C, Usance LC)
Investments and Wealth Management
Insurance Underwriting Services
PPP and Trading Platforms
Corporate Finance
BROKER INQUIRIES ARE WELCOMED AND APPRECIATED: Our brokers receive 2% commission for referral. Daisy Chains of Brokers, Scammers & Time Wasters Will Not Be Entertained. We assist Clients and brokers in their attempt to secure funding by working on their funding requests that may require innovative financing.
We would welcome the chance to earn your trust and deliver you the best financial service in the industry. Have a look at our portfolio here: https://
Contact us today to know how a Leased Standby Letter of Credit mt760 from barclays bank, hsbc bank, Chase Bank, Standard Chartered Bank or Bank of America can help you conclude worthy deals with your suppliers and contractors.
Manoj Menon
Posted at 13:14h, 22 SeptemberThe article reminds customers to avoid being gullible and do DD checks on providers yet when providers are approached to verify their financial-standing they start to use aggressive language and abuse brokers and label them as joker-brokers. The essence of any relationship is TRUST and we need POLITE and PROFESSIONAL providers who want to genuinely educate brokers and clients alike and not belittle and undermine brokers who ask real questions which require real answers.
THE FACTS:
• No Top AAA bank will issue an SBLC for FREE – RIGHT!
• Only those who have cash deposited at a Top AAA bank can get a cash-backed SBLC – RIGHT!
• If the provider cannot give you their financial statements or Bank Guarantee Letter for the transmission fees, they are not CREDIBLE nor TRUSTWORTHY though they claim to have worked for Top Banks in the past!
THE DECEPTION::
• No proof of past transaction or client reference letters to independently gauge REPUTATION available on website!
• No profiles of key management staff to verify or validate who they are or who they claim to be available on website!
This means if client has to pay Transmission Fee before SBLC is issued, the provider should be ready to provide a Bank Guarantee for the Fee in case the SBLC Pre-Advice is not delivered first or financial instrument not delivered later. Their Corporate Refund Guarantee Letter is not considered a financial guarantee. If the provider does not know the difference between a corporate guarantee and a financial guarantee, please AVOID THEM as they may be SCAM artists or fraudsters! If they are confident in their procedures, they should put their money where their mouth is and get their bank to guarantee the refund of the transmission fee in the event of non-performance. This makes complete FINANCIAL SENSE yet these joker provider does not understand this simple FACT cloaked behind an impressive website and offering unqualified authoritative risk advisories to educate clients and brokers about SBLC. This is really the ART OF DECEPTION which may IMPRESS a few but not the many!
THIS WILL BE POSTED AT OTHER BLOGS AND INTERNET SITES IMMEDIATELY – LET THE PUBLIC BEWARE!
admin
Posted at 21:22h, 22 SeptemberThe problem with UNINFORMED BROKERS is that they think they know too much when in reality they don’t know anything. Uninformed brokers are some of the major reasons bank instrument transactions fail.
Manoj Menon ( menon.manoj@nexia.vn ) contacted us yesterday as a broker, but his profile never said anything about him being a broker: http://nexia.vn/index.php?option=com_content&view=article&id=527&Itemid=428&lang=en
Anyways Manoj said he has clients that want to lease SBLC and demanded us to send our “Financial statement for the last 2 financial years” amongst other things. I reminded him that banks and funders will not release such sensitive information to strangers, I also reminded him that if he is really a broker he should know how to process and submit customers files. I also reminded him that this is not how bank instrument transactions are done.
A real and experienced broker knows what the process is. First of all, you submit your clients SBLC application together with their KYC documents. There should be documents to show what the SBLC is being used for, and the client’s identity / profession must be established amongst other things. Once you do these things, you can then make such demands.
Manoj did not do any of these and he is not even ready to learn or listen. I gave him one or two pieces of advice and the next thing he ran to the internet to rant. He said he was going to teach our company a lesson by running to the internet to expose his ignorance but little did he know that he was demarketing himself and his reputation.
How can you wake up and ask a bank or funder to send you their 2 years financials to send to your client? Who is this your client? Where is the client from? For what purpose do they need the instrument? Did you establish their identity? Where are the clients KYC and other valuable documents? Is there any bank or funder, anywhere in the world that will forward their sensitive documents to strangers just like that? And Manoj Menon still thinks he is right?
Grand City Investment Ltd is a reputable financial services provider with unrivalled credibility and history. We are a 36 years old company with a proven track record.
We help brokers and their clients to secure funding for their viable projects and if a broker does not know the process we will walk them through but the broker has to be polite and ready to learn.
Arrogance cannot lead you anywhere. And sometimes you think you know too much but you don’t know anything. How did you come to the internet to tell the world that the only reason you came online to rant is because we refused to submit our financials to some unknown clients.. We requested to see their files to know if they qualify for the instrument in the first place or not.
I want to see which bank or financial services provider that will do what Manoj Menon ( menon.manoj@nexia.vn ) http://nexia.vn/index.php?option=com_content&view=article&id=527&Itemid=428&lang=en told us to do.
I was ready to educate him but he was so full of himself. I forgive you Manoj but next time be polite and ask questions, it won’t kill you. You don’t know it all.