The entire world is now facing a huge drop in the global economy due to the outbreak caused by COVID-19. To combat the global crisis; many companies are vying to find chances to stay afloat in the drowning market. For this, they require financial banking to support their trade finance needs.
But in certain cases, while applying for loans or financial support from banks; it’s more likely to be rejected; for several reasons such as — poor creditworthiness; also, unable to provide the cash margin or other security documents. Add to this fact, due to the pandemic situation of the global economy; many of the banks are now shrinking their networks of other banks' relationships; which they used for cross border trade. Even though, the banks are not ready to provide bank facilities for buyers and sellers.
As a result, traders are left abandon to avail required fiscal supports to proceed with their import deals. But, fortunately, there are many bank instruments providers who are ready to support the traders with their financial needs. Clearing the obstacles between traders and bank facilities, Bank Instruments providers lend their hands to help traders to conclude their deals without blocking their cash funds. Backed by larger institutions and banks with high credit rating, bank instruments providers provides guarantees; also assurance to support their import; thus enabling more and more companies to engage in import and export activities without worrying about their cash capital. Trade Finance Facilities Trade Finance Facilities is not only dedicated to buyers and sellers, but also, for contractors, manufacturers, and project owners who involved in the construction industry. It covers a range of instruments such as — Letter of Credit, Standby LC, Payment Bond, Letter of Comfort, and bonds such as Advance Payment Bond, Performance Bond, and Bid Bond. Usually, traders contact their bank to avail of these services for their import deals. But, right now, since the situation of the economy is getting worsen; many of the banks are declining their client’s request; else, demanding 100 percent cash margin or collateral to proceed with their request. But we, the Financial Instrument provider in Dubai understand the situation and provide a range of financial instruments on behalf of traders from their rated bank accounts. Also, to issue such guarantees, we didn’t demand any cash margin from our clients. We are well aware that global trade wouldn’t be possible without trade financing. By keeping this in mind, we perfectly craft our Bank Instruments to meet the demands of the traders; also, to increase cash flow & reduce the risks involved. In today’s market, the utmost concern among traders is receiving payment on time and as well, receiving the goods on time. By making use of our instruments, traders can get assurance that their deals will get concluded at no time without any issues in payment & shipment. Since our instruments can provide the assurance they require, traders are contacting us to get the support by availing the suitable bank instruments. Our Success in Supporting Clients
Amid COVID-19 outbreak, we have concluded few deals successfully by providing trade finance facilities on behalf of our clients without blocking their cash capital. Read our success stories by visiting our website.
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