advance payment bond – advance payment guarantee – advance payments

Case Study Real Estate Contractor Received

their Advance Payment with Advance Payment Bond

Facilitated by Bronze Wing Trading

Presented bywww.bwtradefinance.com

Story Overview

A Real Estate Contractor contacted Bronze Wing Trading to avail Advance Payment Bond on behalf of their construction company to get advance payment from their developer.

Problem Challenge Solution

Contractor Availed Advance Payment For their Developer

Problem: The Real Estate Contractor Required Advance Payment Bond

A real estate contractor with good reputation signed the contract to

undertake a huge construction project.

To meet the initial cost of mobilizing the project, the contractor required

advance payment from their developer.

Even though, the contractor had a good record, the developer demanded

the contractor to provide the Advance Payment Bond to secure their

advance payment.

Challenge: To Avail Advance Payment Bond on Behalf of Their Company

The Contractor approached their bank and many private sectors to avail

Advance Payment Bond on behalf of their company. But all they set more

demands to issue MT760.

After doing a long search to find a way to avail advance payment bond,

the contractor got in touch with a local broker, who assured them that

they can assist to avail Advance Payment Bond on their behalf.

Solution: The Scope of Our Work

The broker contacted us with the client’s request. They explained the client’s requirement & provided all the related documents to us. We studied their contract documents & approved their request. After the service agreement signed and paid the admin charges, we started the work on their transaction. Then, we blocked our bank limit to structure their deal and sent the Advance Payment Bond draft for their approval. The client approved the draft and paid the issuance fee charges. Later, we instructed our bank to issue the advance payment guarantee to the developer’s account via Swift MT760.

End Result: The Developer Provided the Advance Payment to the Contractor

After receiving the Advance Payment Bond in their favor, the developer

provided Advance Payment to the contractor to mobilize the

construction work of the project.

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e

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Contact Bronze Wing Trading L.L.C.

00971-4-5519699

support@bwtradefinance.com

Office 3002, 30th Floor,Aspect Tower, Al-Sa'ada Street, Business Bay, Dubai,United Arab Emirates.

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