Pune Based Importer Saved INR 78100 on Finance Cost

Pune Based Importer Saved INR 78100 on Finance Cost

05 Oct 2019 05:30 PM
 

CASE

  • A Pune based industrial Instruments importer engaged in manufacturing of Electrical/ Instrumentation Systems.
  • The client regularly avails import funding in foreign currency from Overseas branches of Indian Origin Banks.
  • A transaction of around USD 1 Million was shared for syndication with Myforexeye which included partial shipments of goods in 8 lots.

SOLUTIONConsidering the risk and cost involved in the transaction, Myforexeye team approached overseas funding banks for the best rates possible for the transaction.

The LC was issued with the final arrangements and after a couple of days, the client disclosed the urgency of receiving the documents without getting it routed through the funding bank, as his shipment arrived early.

The payment was put on hold for 3 days after which the issue was resolved between the client and his supplier and all the payments were made on respective due dates to the beneficiary

VALUE ADDITION

Myforexeye team was able to continually assist the client through all the stages of the multi-tiered transaction to its ultimate conclusion by timely coordination with the involved parties. In addition, it was done in a cost-effective manner to make funding cost reasonable. The client was happy with our service to syndicate a difficult transaction in a timely and cost-effective manner.