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Direct Pay Letter of Credit using real estate as collateral

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Thu, 05/21/2009 - 21:10
Q-CRE
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Joined: 05/21/2009
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I am looking for U.S. banks that will issue DPLC's or equivalent using real estate as the collateral. Any suggestions would be appreciated.

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Sat, 05/23/2009 - 13:55
#1
uplift
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Joined: 05/14/2009
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Direct Pay L/C

Dear Q-CRE. What shall this be a direct pay L/C?

Normally no L/C is paid directly by issuing bank to beneficiaries but always through other banks.

This posting is mainly written to uplift an interesting theme above the fraudulent entries.

Many thanks for your understanding

Uplift

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Sun, 05/24/2009 - 04:48
#2
Q-CRE
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DPLC

I must admit I don't have a lot of knowledge on the subject, I was hoping someone would refer me to a bank where I could get guidance as well as the DPLC. I see a lot of advertising for these letters on the internet but I can't see how that is possible without one being a bank. The reason I need one is to provide it as collateral in a finance program. THe program is structured so that repayment is done through the LC. My problem is that all of my assets are not liquid, mainly real estate. I see that I could just borrow against my unencumbered real estate but my terms would be far better if I got an LC using my real estate as collateral and then use the LC to participate in this program.

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Tue, 05/26/2009 - 10:56
#3
Peter M
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Joined: 09/02/2008
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Financing - Direct pay L/C

If you have real estate assets which are unencumbered it should be very possible for you to approach a bank to obtain a corporate operating line - this line would be drawable in many way e.g. cash drawings, L/C and guarantee issuance, foreign exchange hedging etc.

In today's economic climate be vary careful of people promising big returns for you L/C investment/finance scheme - It does not make any sense to say that repayment is done through your L/C because if you are the issuer then you will be DEBITED in settlement and the beneficiary will receive the funds.

I just may be in a negative mood today, but this sounds like a scam - if it was a real transaction your bank would be doing it and making lots of money - IF IT LOOKS TOO GOOD TO BE TRUE  etc....................

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