SBLC offer letter from International Holdings Inc - Toronto - Canada
Posted in the Banking Forum
#1 Jun 13, 2008
Sub: Project funding Vs SBLC worth INR 12.5 Mn
Ours is a regd Co-Op sector Sugar Mill in Gujarat, India. We are going for a twin project of 1500-2500 TCD sugar Mill & 30 KLPD Ethanol.
The capital cost of project is Rs. 85 Crores INR
SBLC offered to us is for INR 125 Cr @ 5% max cost pa , against offering SBLC from a nationalised bank for equal amount.
The funds are available initially for 10 Yrs and based on project viability, it will be extended for further period of 10 Years.
Nationalised bank insist for proof of funds.
The Canada Co is playing hide & seek game with us on producing proof of funds. They only commit, funds are to route through HSBC like +AAA rated bank, adhering RBI-CBDT- FIU IND . FEDAI under UCPDC - ICC 500(ISP98)
Our bankers are prepared to issue SBLC as required. Just we need to produce Proof of funds and it's legitimacy.
Please let us know how best you can help us resolving the matter at what cost ?
If you have any better option to suggest, send us complete details on the same.
#5 Jul 30, 2011
Lease bank swifts
Lease Bank Instruments
THERE IS NO ESCROW REQUIRED
#29 Aug 6, 2013
International Holding ever gave you the fund required by you?
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