Instruments (Sblc/Bg/Mtn)
We provide all type of fundings and instruments the procedures are as mentioned downside.
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SBLC issuing Procedures
We are pleased to outline the comprehensive procedures for availing financial instruments, including LC/Usance SBLC/BG, through Venzkhvam Secure Banking Consortium. We assure you of our commitment to providing highly professional and reliable services throughout the entire process. Please find the SBLC detailed procedures below:
Simplified LC Issuing Procedures—Venzkhvam Secure Banking Consortium
Step 1: Document Submission
Submit supplier profile, CIS, LC application, bank-accepted verbiage, and pro forma invoice.
Consortium commitment charges is paid based on instrument value:
- $112,000 for $1-5.9 million
- $250,000 for $6-24.9 million
- $500,000 for $25 million and above
Steps to Issue a Standby Letter of Credit (SBLC):
- Initial Application:
The applicant (typically the buyer or importer) submits a request to their bank to issue an
SBLC. This request includes essential transaction details, such as the beneficiary’s information, purpose of the SBLC, amount, and terms.
- Credit Evaluation:
The bank reviews the applicant’s financial standing by examining their credit history, financial records, and prior transactions to assess creditworthiness.
- Additional Requirements:
If necessary, the bank may request collateral in the form of funds or assets. The applicant might also need to provide supplementary documentation, such as export-related paperwork and shipment details.
- Document review and approval:
Once the required documents are verified, the bank proceeds with the approval and issuance of the SBLC/BG.
- Fee Structure:
The bank charges an annual fee for issuing the SBLC, generally between 8% and 58% of the SBLC
amount, depending on the terms.
Note: The issuance and handling of SBLCs follow the Uniform
Customs and Practice for Documentary Credits (UCP 600), established by the
International Chamber of Commerce (ICC) to standardize international trade
procedures.
For further inquiries or support, contact us. We’re ready to assist!
Contact: Pramod Kumar WhatsApp +971-551241169
pramodkumar@venzkhvamholdings.com
www.venzkhvamholdings.com
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