Wanted Collateral Security For Our Business

Opportunity Summary

Dear Sir,

We have trading business operations from England and Dubai. Ours are new establishments. We are in export and import of ferrous, non-ferrous metals, general commodities. We do not have any credit line in any bank.

We receive Letter of credits from our buyers, in turn we have to discount those letters of credits or issue back to back letter of credits to factories or end sellers to make supply to our buyers. Now we donot have any such type of facility with our banks. Now we are looking for collateral security in the form the BG/SBLC for our credit line to discount our letter of credit or issue back to back letter of credit for making supply.

The  sblc/bg is supported by the agreement in between applicant and our company either  joint venture or some business relation to extend collateral for banking purpose.

Initially we proceed with up to USD 5 to 10 million, slowly we increase the collateral amount.

WE WANT TO USE THIS COLLATERAL FOR DISCOUNTING LETTER OF CREDITS OR ISSUE BACK TO BACK LETTER OF CREDITS ONLY.

Please advice us, what is the service charge and the procedure. If any alternative for our required activity, please give the solution.