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SBLC BG Direct Provider

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What is a Standby Letter of Credit?

            A Standby Letter or Credit or a Letter of Credit often referred to as SBLC or LC respectively is an irrevocable documentary commitment, issued by the bank to a third-party beneficiary, confirming holders as creditworthy and/or  promising to pay on behalf of the originator.
 

Our major involvement with the banks, considering very many previous successful leasing and purchasing, reduces the pressure to obtain the SBLC, making the document even more readily available for our end receivers  after perfoming general underwriting duties to ensure the financial credibility of the party seeking the letter of credit.

Need a Standby Letter of Credit from HSBC, Barclay's Bank or Credit Suisse?

           Just because these top-rated banks do not know you enough, they may be reluctant to issue an SBLC directly to you which is why we continue to be a linking bridge between you and these banks making it possible for you to either lease a standby letter of credit to be issued in our name or purchase a fresh cut standby letter of credit to be issued in your name.

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Even though a leased or purchased SBLC is valid for business, leasing an SBLC costs 4% of the amount on the stabndby letter of credit generally known as the face value and cannot be monetized, while purchasing costs 30% and can be monetized.

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Brokers benefit 2% of the SBLC face value on each issuance

How can I get a Standby Letter of Credit?

If you do not have a fixed deposit with us, follow these simple procedures to receive an SBLC.

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  1. Send us your Customer Information Sheet, Preferred Verbiage, Passport copy and Company Registration/Incorporation Certificate for Due Diligence and Verification,

  2. Upon Approval, we send you a Deed of Agreement, (DOA),

  3. Send us the signed contract and make an initial payment to cover the processing fee,

  4. Our bank sends you Pre-Advice RWA MT799,

  5. Our bank sends you a Standby Letter of Credit MT760,

  6. You either remit the leasing/purchasing cost in ninety days or we monetize the Standby Letter of Credit (only purchased Standby Letter of Credit can be monetized).

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We only monetize purchased Standby Letter of Credit at 80% LTV

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How can I monetize a Standby Letter of Credit?

For Standby Letter of Credit provided in-house,

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  1. Fill a Deed of Agreement, (DOA),

  2. Within 10 working days, we monetize your Standby Letter of Credit,

  3. Within 3 banking days, we pay you 80% of the Standby Letter of Credit total value.

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