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    2 Replies Latest reply on Jan 26, 2013 12:06 AM by stcintL

    Middleman issue with Letter of Credit

    guiverman Wayfarer

      Good day,

       

      I represent the middleman between a transaction with the buyer and the supplier. The buyer want to pay us with a Letter of Credit and the Supplier needs 30% advanced to lock the price and start production. The Letter of Credit is irrevocable so it is safe transaction but we will only have access of those funds when production in complete, We are in need with the pre-payment amount ($300,00 USD) to lock the deal.

       

      Product: Naval Steel

       

      Any suggestions?

       

      Regards,

       

      William Verdaguer
      info@guiverman.com