Bank Guarantee Process

Follow the Bank Guarantee Process outlined below to secure a Guarantee Letter from Rated Banks—without the need to block your cash funds

• To begin, the client must share their trade deal details by submitting a buy-sell agreement or a proforma invoice related to the transaction or contract.
• Our team will then evaluate the BG request and notify the client of the approval status. If the request is approved, a service agreement will be signed with the client, and we will communicate the applicable admin charges to initiate the process.
• Upon receiving the admin charges, we will proceed by blocking our bank’s limit and provide the client with a Bank Guarantee draft for their review, along with details regarding the issuance fee.
• Once we receive the draft approval and issuance fee, we will instruct our bank to issue the BG from our own account on behalf of the client. The final BG will be transmitted securely via authenticated SWIFT MT760 to the beneficiary’s bank account.

What is Bank Guarantee

• A Bank Guarantee is a formal commitment issued by a bank on behalf of its client to assure the counterparty of payment obligations. For example, if a buyer plans to purchase goods in bulk, the seller may request an MT760 to ensure that the buyer will fulfill the contractual terms.
• As MT760 offers strong assurance, Bank Guarantees are commonly used by traders in international transactions. With a BG in place, traders can engage in multiple global trade deals that might otherwise be out of reach. Additionally, BGs allow businesses to acquire goods, access loans, secure contracts, or lease agreements without the need to block their own capital. In today’s evolving trade environment, BGs are a key tool to manage and grow international operations.
• Holding a BG MT760 signals robust financial credibility, reinforcing your creditworthiness with both domestic and international partners—ultimately attracting new business opportunities. So, if you’re planning to issue a Guarantee Letter to support a new import contract, Bronze Wing Trading L.L.C. in Dubai can assist you. We specialize in providing various types of BGs from rated European banks on behalf of traders and contractors, without requiring any collateral.

Who Involved in the Bank Guarantee process

Buyer – Referred to as the applicant who requests the issuance of BG MT760..
Issuing Bank - The bank responsible for issuing the requested MT760.
Seller – The party that receives the issued Bank Guarantee.
Beneficiary Bank – The bank that receives the BG on behalf of its client (the seller).

Apply for Bank Guarantee