Revolving LC cumulative without order release
Posted: Fri Oct 15, 2021 6:54 am
Please I need the expert advise for the following:
I was asked my bank for guarantee bank , under form revolving LC Cumulative 50 Million Dollars montly , for the total of 500 millions dollars yearly.
Indeed , I will not used the fund LC at all , I will pay the buyer directly , for that LC revolving cumulative will remain untouched.
My question , how I can approach the bank , to convince them that I will use this LC just as document guarantee , and the bank will make any order release on it .
Thanks
I was asked my bank for guarantee bank , under form revolving LC Cumulative 50 Million Dollars montly , for the total of 500 millions dollars yearly.
Indeed , I will not used the fund LC at all , I will pay the buyer directly , for that LC revolving cumulative will remain untouched.
My question , how I can approach the bank , to convince them that I will use this LC just as document guarantee , and the bank will make any order release on it .
Thanks