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Case Study:

Bronze Wing Trading Issued

Case Study:

Bronze Wing Trading Provided Confirmed

LC to a Nigerian Trader

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Story Overview

Bronze Wing Trading L.L.C., Letter of Credit Providers in Dubai helped a Nigerian trader to import

PPE supplies from China by providing Confirmed LC.

Problem: Nigerian Trader Required Confirmed LC

Understanding the global demand of PPE supplies in the market, a Nigerian trader decided to

purchase PPE supplies to supply it to the local market and earn more benefits. For that, they

started searching for a supplier and finally chosen the reliable supplier from China. The Chinese

supplier was ready to start the shipment of the supplier as per the agreed contract. But the buyer

didn’t have enough cash funds in their hand for concluding the trade transaction. So, they

discussed with the supplier and they both mutually agreed to conclude the deal by using Confirmed

LC.

Challenge: To Avail LC MT700 from Trade Finance Providers

The Nigerian trader contacted their bank to avail LC MT700 on their behalf. But the bank declined

their request, as they didn’t meet the demands outlined by the bank. So, they decided to avail Letter

of Credit from private financial institution and starting searching online. While searching for Letter

of Credit Providers on Google, they came across with our LinkedIn Profile and contacted us with

their LC request.

Solution: BWT Issued LC MT700 without Cash Margin

Once we received the request from their end, we analyzed their request carefully to find whether

they met all our parameters or not. Since they fallen into our criteria, we approved their request

and asked them to pay the admin charges and to sign the service agreement. After that, we

structured their LC transaction as per the trade deal and sent the LC draft for their review and

approval. The buyer approved the draft and provided the LC issuance fee charges and other

documents related to their trade deal. After receiving all the details from the buyer, we instructed

our bank to issue the Letter of Credit from our bank account on behalf of the buyer. As per our

request, the bank transmitted the required LC to the developer’s bank account via SWIFT MT700.

Final Outcome:

The Nigerian Buyer Received the LC MT700 in Favor of the Chinese Supplier

And the Deal Concluded Successfully!

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