A Dubai based company wanted to purchase Jet Fuel -Aviation Kerosene Colonial Grade 54 and came across to a supplier in Singapore who was dealing with this commodity, they signed a contract with them to supply total quantity of 12 Million Barrels within a span of 1 year.
To initiate their deal they were in need of Bank Comfort letter (MT-799) which would confirm their financial capability to carry out the transaction to their supplier. They went to their bank hoping that they will provide the required BCL, but the bank was unable to help their client as they were unable to comply bank’s terms and conditions specifically to keep a huge amount of funds in their account as margin money to conclude the BCL (MT-799) transaction.Therefore they were looking for some other sources outside the bank that could provide the required BCL on their behalf to the JP-54 Supplier.
After a lot of research on the internet, they came across Bronze Wing Trading (BWT) through Google Search and were happy to know that it specializes in providing BCL (MT-799) and other financial instruments which helps the importers and exporters to facilitate their business.
The client visited the BWT offices to understand the procedures to avail the Bank Comfort Letter (BCL) and they were pleased to know that the procedures and the payment options were very simple and as per their requirements. They immediately submitted the sales and purchase agreement, other legal documents and paid the BCL issuance fee charges so that they can get their required MT-799 in favor of their supplier.
As per the company policy, BWT analyzed all the documents in detail and after the complete verification of the documents, BWT proceeded for the issuance of required BCL through an authenticated SWIFT (MT-799) within ONE banking day to the supplier on behalf of its client so that they can guarantee their financial capability to purchase the Jet Fuel.
When BWT successfully completed the BCL transaction and provided the copy of acknowledged authenticated Swift MT-799 to the client, they were relieved and grateful for the BWT services. They appreciated the efficiency of Bronze Wing Trading for concluding this transaction in an appropriate time frame and also showed interest to work with BWT in future for their other trade deals.