SBLC

Standby Letter of Credit or SBLC is the process of using the value of foreign asset overseas to be useable to secure bank credits in Australia. The requirements of SBLC for Manila business migrant for example are:

• Assets overseas e.g. land in Manila
• Valuation of the overseas asset by a accredited Bank in Manila
• Approval of the Manila bank to open a letter of credit to Alamco using the Manila land as security
• Opening of Standby Letter of Credit to Alamco based on standard SBLC verbiage from Australian Bank. The SBLC has a term of 2 to 3 years.
• The use of funds drawn against the LC is typically to purchase goods and services in Australia, or construction of a project which is less than 24 months duration.

For details contact Alamco or e-mail Omar at: perth@alamco.com.au