Procedures to purchase SBLCS:
Buyer must have a minimum of 100 m usd/euro or an active credit line
Buyer submits the following compliance documents:
The custodial bank officer via phone and/or emal request for confirmation that the sblcs are in custody and have been purchase in the buyers name.
Top tier banks only based on ledger to ledger
LEDGER TO LEDGER SETTLEMENT:
If the buyer has funds in HSBC London; Barclay bank London,
IR DBS Singapore: The transactoin is completed internally / Ledger to Ledger