New to SBLC and BGs ?

Most people that have contacted the author of the blog to question about SBLC and BGs are usually layman. Who so very believe that if someone send them a 50-100M SBLC or BG they are able to draw down from it. Which is of course ridiculous.

Firstly, a BG is just a Banker’s Guarantee which uses block funds and it just sits in the bank and act as a  Guarantee. Stop dreaming that you are able to draw funds out of it.

Secondly, before you are able to draw down funds from an SBLC. Please get prior approval from your RM before sending the 799 and 760. As the verbiage of the SBLC would need approval from the beneficiary bank first. Way before anything else can happen ?

If a CON MAN like James Jones ask you to fill up forms like Customer Information sheet with all your details including your Passport details do not give in to their request. Instead google and check if these companies are legit. Always do not forget to conduct due diligence on these people. Especially since we have been seeing quite a number of litigation cases abut SBLCs that fail to perform.

For more information do write in to and we will verify your papers for you. As there is a ready tech to do that. Which has been currently used by the banks.

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