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Showing posts with the label MT760

WHAT IS STANDBY LETTER OF CREDIT (SBLC): AND HOW TO USE IT

Entering into a commercial or financial transaction always involves certain risks for the seller or the financier. The most serious risk is that of not being paid. There are many methods available to help ensure payment. One such method is through the use of a letter of credit. The letter of credit substitutes the credit of a third party, usually a bank, for that of the buyer or debtor. In transactions in which a commercial letter of credit is used, the bank agrees to pay the seller for the goods sold, usually upon presentation of a document stating that the goods have been received by the buyer. In transactions in which a standby letter of credit is used, the bank agrees to pay the financier if the debtor defaults upon his obligation to pay. In both cases, the seller or financier is assured of payment, provided the conditions of the letter of credit are satisfied. Upon payment by the bank, the buyer or debtor is obligated to reimburse the bank. Three legal relationships exist in a...

MT799, MT760, MT710, OUR RECENT DEAL CART

The below is our recent deals in Bank Guarantees. At Martin Burns (IOM) we are bank insider INSTRUMENT TYPE: DOCUMENTARY LETTER OF CREDIT (DLC) ​COUNTRY: EGYPT / TURKEY BANK: NATIONAL BANK OF EGYPT, CAIRO EG DESCRIPTION: GRADE A EGYPTIAN BEANS, ADVISING BANK - UNITED BANK, MESSAGE TYPE: MT710 INSTRUMENT TYPE: PAYMENT GUARANTEE MT760 ​COUNTRY: LIECHTENSTEIN / PORTUGAL BANK: VP BANK, LIECHTENSTEIN LI DESCRIPTION: CREDIT ENHANCEMENT FOR INVESTMENT PROJECTS IN PORTUGAL, MESSAGE TYPE: MT760 INSTRUMENT TYPE: DOCUMENTARY LETTER OF CREDIT (DLC) ​COUNTRY: UNITED KINGDOM BANK: HSBC BANK PLC, LONDON, GB DESCRIPTION: FROZEN FISH AND RICE, ADVISING BANK - BANK NEGARA LONDON BRANCH, MESSAGE TYPE: MT710 INSTRUMENT TYPE: PAYMENT GUARANTEE MT760 ​COUNTRY: GERMANY / PANAMA BANK: COMMERZBANK AG, FRANKFURT DE DESCRIPTION: CREDIT FACILITIES FOR REAL ESTATE DEVELOPMENT IN PANAMA, MESSAGE TYPE: MT760 Loans/Project Funding Deals South Africa * SAHOL PETROLEUM SOLUTION: 500 MILLION USD (FOR ESTABLIS...