REQUEST TO REDUCE L/C MARGIN ON IMPORT OF MACHINERY & RAW MATERIAL

DATE: 06^th November, 2016

The Manager

Standard Chartered 

Industrial Area,

Karachi.

Subject:                 REQUEST TO REDUCE L/C MARGIN ON IMPORT OF MACHINERY & RAW MATERIAL A/C NO __________ ________

Dear Sir,

As you know you have granted limit of Rs. 3.5 Million to open L/c’s At Sight and D.A. against mortgage of property worth Rs. 1000 million. At present you are opening our L/C’s for Raw material at 20% and for Machinery 50%. We have already made request to you to decrease the margin from 20% to 10% for raw material and for machinery 20% instead of 50%.

We are still waiting for your reply and unable to open L/C’s which are delayed and causing loss to our business.

Now you are requested to kindly reply our request immediately. Hope, our request will be considered and we will not be compelled to approach to another bank.

Thanking you, we remain

Yours truly,

For abc company

xyz

D/O & C.E.O.