{"id":855,"date":"2024-10-01T13:43:11","date_gmt":"2024-10-01T13:43:11","guid":{"rendered":"https:\/\/grandcityinvestment.com\/?p=855"},"modified":"2024-10-02T15:35:30","modified_gmt":"2024-10-02T15:35:30","slug":"the-truth-about-bank-instruments-sblc-bg-upfront-fees","status":"publish","type":"post","link":"https:\/\/grandcityinvestment.com\/se_SP\/the-truth-about-bank-instruments-sblc-bg-upfront-fees\/","title":{"rendered":"The Truth About Bank Instrument (SBLC\/BG) Upfront fees"},"content":{"rendered":"
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Sometimes I can\u2019t help but shake my head when I hear comments like \u201cI need a bank guarantee\u00a0or a standby letter of credit but I don\u2019t want to pay any upfront fees\u201d or \u201c I hope your BG\/SBLC transaction does not require any advance payment?\u201d. One can only wonder what part of someone\u2019s imagination could phantom secure a Bank Guarantee or Standby Letters of Credit for Millions of Dollars for Free, with no upfront payment!<\/span><\/p>\n If you were ever to hear this, you will do som<\/span>e good to yourself fleeing from such falsehood, free bank guarantees SBLC<\/a> with no upfront fee do not exist in the real world,if they did, everyone in the world would be millionaires and billionaires.\u00a0<\/span><\/p>\n Free bank instrument transaction without any upfront fee is just one fairy tale that will never become a reality. No bank anywhere in the world will take the risk on such a transaction without a charge, As a seasoned banker, I am aware that banks do not work for free because banks aren\u2019t a charity organizations.<\/span><\/p>\n Truth is, if the bank is not paid then no Bank Guarantee can be authorized or sent, and quite frankly you can rest assured that no Bank Guarantee Issuer or SBLC Provider is going to pay the bank fees for you. First, they are taking a huge risk issuing you a Bank Instrument (BG\/SBLC) and then you expect they pay the bank fees as well? Quite frankly if that was the case they might as well transmit the BG to the Funder themselves and hold on to the entire profit themselves. Why should they split the profit with a client that hasn\u2019t assumed any risk whatsoever?<\/span><\/p>\n