SCB Recent Success...
SCB facilitates the sale of 7 Mitsubishi Pajero Sports Utility Vehiles in Indonesia.
Amount:224,000 USDInstrument:1 Year DLC
Type:MT 710
Receiving Bank:Bank Negara Indonesia
SCB delivers a 10M USD Standby Letter of Credit (SBLC) to fund an alternative energy project in Las Vegas, Nevada, USA
Amount:10,00,000 USD
Instrument:1 year SBLC
Type:MT 760
Receiving Bank:Citibank, USA
Soleil Chartered Bank (SCB) is an international trade finance institution created to manage and solve global trade finance documentary needs. With a world-wide scope, SCB provides global trade finance solutions to Banks, Brokers, Corporations and Individuals. SCB financial instruments are used by traders, companies and individuals to meet required trade finance needs.
Our Disclaimer: The information supplied in this newsletter does not constitute financial advice and you should seek independent advice before undertaking any financial transactions based on information supplied herein. Soleil Chartered Bank does not accept any liability whatsoever for any loss or damage suffered or incurred as a result of your relying on information or material published in this newsletter. We aim to keep our newsletter up to date with current financial rules and regulations. We seek to uphold the highest standards.
SCB Upcoming Presence...
Texworld USAMembers of the Soleil Chartered Bank Trade Finance Team will be attending the 2016 TexWorld USA / Apparel Sourcing Show held at the Jacob Javits Center in NY. Attending this event will strengthen SCB’s ties with the international garment and textile manufacturing community. At this show, SCB plans to visit with companies that export their products and require a DLC from their buyer to avail credit facilities at their domestic bank.
SCB Merchant Banking Services...
Documentary Letters of Credit on Collection BasisSoleil Chartered Bank has the ability to offer collection basis documentary letters of credit. This ability allows the beneficiary bank to release the goods to the buyer and accept payment as and when the buyer is able to sell the goods. Though this requires more work between the beneficiary bank and SCB, we are very well equipped for structuring these transactions.
Collection basis services can be made easier if the goods remain in a bonded warehouse and are released in proportion to payment made.
I have an infrastructure project that takes a few years to complete. Can I get an SBLC for many years?
Our clients often engage in transactions that take over a year to complete. In this case the beneficiary bank or even the government allowing the contract will require an SBLC that covers the life of the project. In order to facilitate such requests SCB provides SBLCs that can be extended every year until the project is complete. We expect payment for the extension only when it is requested so that our clients can better manage their cash flow, thus having the advantage of possessing a multiple year instrument without the multiple year cost upfront!