SBLC
Stand By Letter of Credit (SBLC) = MT760
An SBLC is a Stand By Letter of Credit. It has nothing to do with the classical documentary Letter of Credit, which is used for global trading purposes. AN SBLC is the USA form of the well known Bank Guarantee (BG) . The Swift code for an SBLC is MT760.
SBLC’s (and BG’s) can be used to enhance your skill to apply for a line of credit with your bank; in other words, it can be used as collateral when your bank is asking for bonus comfort when you question them to fund your project.
We can help you buy an Stand By Letter of Credit - SBLC.
The SBLC’s we deal in are genuinely 100% cash-backed and therefore usable as collateral. Our issuers only use top 25 World Banks – primarily from Europe like HSBC, Deutsche, UBS etc. This guarantees world wide acceptance of your SBLC.
These SBLC’s are generated by “someone” blocking their funds on your behalf, so we speak of a “leased” SBLC. In other words the SBLC is owned by the issuer and you are the beneficiary.
The SBLC is generally issued for 1year and 1 day, but can straightforwardly be extended up to 5 years. (It is doable to get an SBLC for only 6 months). Once issued the SBLC is transferred to your bank via the Swift protocol of MT760.
Of course, Leasing of an SBLC comes at a cost. And to be very honest: at a high cost. Financing your project by using an SBLC is very expensive. First you need to pay money to the issuer of the SBLC plus commission to the consultants facilitating the administer, Then you need to give the SBLC to your bank, who are providing a Line of Credit against the SBLC, which may only be up to 90% LTV or less. And usually, your bank will charge a one off fee to ‘monetise’ the instrument and also charge appeal on the drawn down loan amount.
To fruitfully apply for an Stand By Letter of Credit you need to be aware of four vital points:
- You need to have a excellent project
- You need to have a bank funding your project based on the supporting collateral of an issued SBLC
- You need to have the money to pay for the leasing of the SBLC
- You need to have a believable and realistic exit approach to repay the loan and return the SBLC at the end of the term.
All the SBLC’s we deal with are callable, assignable, fully manageable and lienable.
If you are thought of using an SBLC to participate in a High Yield Trade Program, we are more than pleased to help you in acquiring the SBLC and introduction it into trade.
But, you need to be very sure you are able to pay the leasing fees of the SBLC before issue, as most providers will not allow the instrument to be taken into a Trade Program unless and until the fee is paid. You cannot pay the lease fee from the program returns .
It is also not doable to use an SBLC to secure a commodity trade and pay for the SBLC out of the profits from the transaction.
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