SBLC Advising needed

[klivex]

We received an SBLC from a small bank in UK via MT760. It was routed to us via Zambia as it did not have RMA with our Indian Bank. Now Indian bank does not have Credit limits with the UK bank and also the zambia bank, hence they have given a list of banks in UK and asked the issuing bank to confirm/advise the sblc via those banks. But unfortunately the UK bank does not have relations with the list of banks given by the Indian Bank. What can be done here to get the SBLC advised as we are seeking to set limits against them.

[picant]

Hi Pal,

Advised or confirmed? the second option could be resolved if in your Country there is an ECA, or
your bank approchs the issuing bank for a collateral deposit or an IRU irrevocable Reimbursing Undertaking
by an intermediary bank which is a mutual correspondent even if in different currency.
Warning there operations may have a significant cost|
Other comments appreciated
Ciao

[TaiOanlan]

@klivex
What is your role here and what does the MT-760 indicate in Field 23(excuse me if I were wrong about the field), "Issue" or "Request"?
Since your are talking about credit limit, you have to book the transaction under the UK bank's liability, don't you?