How does SBLC backed Buyers Credit work By Isaac Tudu

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How does SBLC backed Buyer's Credit work? • RBI has banned issuance of Letter of Undertaking (LoUs)/ Letter of Comfort (LoCs) for Trade Credit (Buyer's Credit) for imports vide its circular dated 13.03.2018. Initially, there was some confusion that whether Trade Credit was completely banned by RBI or not? However, in the very same circular, LC and BG for Trade Credits for imports into India were allowed to continue. • Accordingly, Banks in India came out with another trade credit product based on SBLC i.e. SBLC backed Buyer's Credit. • However, I have observed that SBLC backed Buyer's Credit is not as popular as an earlier version of Buyer's Credit against LoUs / LoCs. • Therefore, I thought to share the working mechanism of SBCL backed Buyer's Credit so that more importers can know about this product and avail the same to reduce their overall financial cost. • About Speaker:- Isaac Tudu is an ex-banker with India’s largest Banks i.e. ICICI Bank and State Bank of India having more than 25 years of banking experience in Trade Finance and Credit with ICC certifications like CDCS, CSDG CITF etc. Isaac’s Vision: To create a financial world where SMEs are well conversant with Trade Finance without any ambiguity. Isaac’s Mission: To help 100,000 SMEs to achieve their Sales Business Growth drastically by enabling them through the Hassle-Free Trade Finance Online Programme. • Call for more information: +91 90999 64682 • Stay connected with us: • Visit: www.isaactudu.com • Facebook: www.facebook.com/groups/isaactudu/ • LinkedIn: / isaactudu • Instagram: / isaactudu • Twitter: / isaactudu • Telegram: https://t.me/joinchat/BBDEsXBocVpkNzQ1 • #importexport #tradefinance#lettersofcredit#lc

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