A New Delhi based chemical importer dealing in a wide range of industrial chemicals and polymers. The company is well known for being a leader in the chemical trading in India. Discontinuance of LOUs resulted in higher cost of borrowing and sparse availability of FCY funding.
Myforexeye Value addition
The client approached Myforexeye to syndicate multiple transactions across geographies totalling USD 400k approx. Initially the exporters were hesitant in accepting usance Letters of Credit payable at sight. Myforexeye team assisted the client to structure the LCs to reflect the current payment terms with exporters even though the LC had a credit period in-built. To provide additional comfort, we reached out to banks that the exporter was comfortable with and in the geography the exporter was based out of to prevent any delays in LC issuance & document handling. Working within these limitations, our team was successful in securing a highly competitive quote of L+80bps for a 60-day tenor.
Both, the client & the supplier, were satisfied with service and the ability to facilitate a transaction keeping the interest of both parties in mind.
24 Sep 2019 06:14 PM
A New Delhi based electronic goods importer. The working capital cycle of the client is 180 days but the Import payments terms are at sight against DP documents. The client used to utilize the Cash Credit facility with a PSU Bank. The client had appl
07 Sep 2019 03:03 PM
A large importer based in Delhi. The client had started a relationship with Myforexeye 6 months back. The client was getting extremely worried about persistent rupee weakness. Their import payment of USD 1 million was due for September 2019.
17 Aug 2019 05:53 PM
A South Indian Electric Vehicles manufacturer well known for selling battery operated two-wheelers. The company regularly imports various components required to assemble two-wheelers from different geographies of the world. Given the focus on green e
03 Aug 2019 02:13 PM
A Mumbai based X-Ray film importer with import turnover of INR 6 cr had to make an import payment of EUR 1,00,000 against the import of master rolls of x-ray film from Germany. The client deals with a PSU bank which has been charging card rate on all
20 Jul 2019 06:09 PM
A Surat based woven products’ manufacturer and exporter. The firm exports woven fabric, post bags, laminated bags, cement bags, and other industrial packaging products in the international market with an annual export turnover of INR 10 cr. The firm
29 Jun 2019 04:49 PM
Myforexeye has appointed ‘Referral Partners’ (RPs) across the country in order to bring users of foreign exchange closer to our technology platform. The Referral Partner in Kolkata referred close to 10 exporters and importers in last 1 month. Our tea