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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 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.

Even though a leased or purchased SBLC is valid for business, leasing an SBLC costs 7% of the amount on the stabndby letter of credit generally known as the face value, while purchasing costs 35%.

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

How can I get a Letter of Credit?

For Investors who have a fixed deposit with us, you do not need to worry about procedures.

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

  2. We request and obtain a Standby Letter of Credit MT760 sent over to you,

  3. Remit the leasing or purchasing cost.

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

  1. Send us your Customer Information Sheet, preferred Verbiage and Company Certificate for Due Diligence,

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

  3. Remit Administrative Charge,

  4. Acknowledge RWA MT799,

  5. We request and obtain a Standby Letter of Credit MT760 sent over to you,

  6. Remit the leasing or purchasing cost.

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