A Chinese buyer required a 90-day LC at Sight to import soybean meal for animal feed from Brazil. Bronze Wing Trading, a Letter of Credit provider in Dubai, arranged the Documentary LC at Sight on behalf of the buyer and in favour of the Brazilian supplier.
90 Days Documentary LC at Sight Requirement
The Chinese buyer specialises in exporting agri-waste products for animal feed, including soybean meal and fish meal. To expand the business, they planned to import 5,000 MT of soybean meal from Brazil.
After finding a suitable supplier through the Alibaba B2B platform, the buyer contacted them regarding the required quantity and agreed on the payment terms. The supplier was ready to provide the products, provided the buyer arranged a 90-day DLC at Sight.
The Challenge to Avail 90 Days DLC at Sight
The buyer approached their bank to arrange the required LC, but due to limited cash flow and liquidity, they could not meet the bank’s requirements. The bank also demanded a cash margin, which the buyer did not want to block for the transaction.
While searching for another option, the buyer came across information about Letter of Credit providers and contacted Bronze Wing Trading with their DLC requirement.
Solution: We Provided LC at Sight
Our team reviewed the client’s trade details and contacted them to understand the transaction. We explained the Letter of Credit process, reviewed the supporting documents, and guided the client through the required formalities.
Once the request was approved, we structured the Import LC and prepared the draft for the client’s review. After receiving the approved draft and completing the required issuance formalities, we instructed our banking partner to issue the LC through SWIFT MT700 in favour of the supplier.
Final Outcome: The Seller Shipped the Agri-Waste Products via Sea Freight
After receiving the Letter of Credit, the Brazilian supplier packed the soybean meal in 50 KG bags and arranged shipment by sea freight to the Chinese buyer’s destination port.
The buyer successfully proceeded with the import, allowing them to receive the soybean meal and continue supplying their customers. The transaction was completed according to the agreed LC at Sight payment terms.
How to Open a Letter of Credit?
If you require a 90-day LC at Sight to import goods from overseas, contact Bronze Wing Trading Ltd with your requirements. Our team can review your transaction and guide you through the Letter of Credit process.
