Advance Payment Guarantee is a written undertaking issued by a bank as a form of financial assurance. This guarantee assures the buyer that in case the seller fails to fulfill the agreed obligation for goods or services, the advance payment made will be refunded by the bank.
In today’s trade and project environment, most contractors and sellers demand an upfront percentage of the project’s total value to cover initial costs. To safeguard this payment, buyers often require the seller to provide an Advance Payment Guarantee (Payment Bond) in their favor.
While contractors can request these guarantees from their banks, banks usually demand a significant cash margin to issue them. Due to limited working capital or lack of liquidity, many contractors are unable to meet this requirement, preventing them from obtaining the necessary guarantees from their banks.
Are you looking to get a Letter of Guarantee without blocking your cash funds? Bronze Wing Trading L.L.C., a trusted Bank Guarantee Provider in Dubai with over three decades of experience, can help you obtain MT760 on your behalf—without locking your working capital.
Here's a simple step-by-step process to apply for a Payment Bond from us:
1. Submit your requirement through our website or email us directly.
2. Our team will review your bond request and confirm whether it's approved.
3. Upon approval, sign the service agreement and pay the service fee.
4. We will structure your Payment Bond by blocking our own bank limits.
5. You’ll receive a draft MT760 for your review and approval.
6. After approval and payment of the issuance fee, we will issue the guarantee via SWIFT MT760 in favor of your buyer/project owner.
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