NNRV Trade Partners
Montreal HQ • Global Real Estate & Infrastructure Finance
Property Tax SBLC (MT760) — Secure Real Estate & Infrastructure Payments
Use a Standby Letter of Credit (SBLC) for Property Taxes to guarantee municipal/owner payments on complex transactions—without upfront cash. ISP98 / UCP 600 aligned, SWIFT-verified, and tailored to residential, commercial, industrial, hospitality, healthcare, education, transport, utilities, mixed-use, and social housing.
ISP98 • UCP 600 • URDG 758
KYC/AML & Sanctions Screening
24–48h intake
100+ countries
24–48h
Initial feedback
$5B+
Structured to date
200+
Banking links
100+
Countries served
How Does a Property Tax SBLC Work?
- Buyer (applicant) requests SBLC — via their issuing bank.
- Issuing bank guarantees payment — SBLC is issued in favor of the property owner/municipality.
- Owner/municipality verifies — receiving bank authenticates the SBLC over SWIFT.
- Claim if default — if buyer fails terms, beneficiary submits compliant demand.
- Bank pays beneficiary — issuing bank releases funds per SBLC terms.
Outcome: Risk transfer from owner/municipality to issuing bank, enabling approvals, closings, and scheduled works without upfront buyer cash.
Documents Required for Property Tax SBLC
- Property Agreement / Tax Resolution (amounts, milestones, claim terms)
- Company Registration & Ownership (KYC file, licenses)
- Buyer’s Credit Information (financials, cashflow rationale)
- Bank Statements (last 6–12 months)
- Collateral Agreement (if required by issuing bank)
Recommended SBLC Draft Elements
- Governing rules: ISP98 (preferred) or UCP 600
- Claim package: compliant demand + statement of default
- Expiry: fixed date and place (beneficiary bank)
- Partial drawings allowed, charges (71B) allocation
- SWIFT fields cleaned to avoid discrepancies (20, 23, 30, 40A, 59, 71B, 72)
10 Real-Estate Funding Mechanisms & Instrument Structures
1) Property Tax SBLC (MT760)
Guarantees tax or assessment payments due to municipalities/owners. Triggers on buyer default.
- Use: Closings, development approvals, PILOT/TIF-like commitments
- Docs: Tax agreement, demand wording, schedule
- Rules/SWIFT: ISP98 • MT760 • MT999 auth
2) Rent & Lease SBLC (MT760)
Backs lease obligations (base rent, CAM, taxes) to landlords or ground lessors.
- Use: Office/retail/industrial leases, ground leases
- Docs: Lease, claim form, LOD
- Rules: ISP98 • MT760
3) Advance Payment Guarantee (URDG 758)
Secures buyer prepayments to contractors/vendors for works/materials.
- Use: EPC packages, facade/HVAC orders
- Docs: Contract, milestone plan
- Rules: URDG 758 • MT760/759
4) Performance Bond (URDG 758)
Protects against performance failure or late delivery on construction.
- Use: Civil works, public tenders
- Docs: Performance KPIs, acceptance tests
- Rules: URDG 758 • MT760
5) Construction LC for Materials (MT700)
Operative LC to pay suppliers on compliant shipping/warehouse docs.
- Use: Long-lead MEP, elevators, steel
- Docs: PI, B/L/AWB, COO, insurance
- Rules: UCP 600 • MT700/707
6) Escrow + LC Combo
Escrow for deposits; LC for staged supplier payments—reduces amendment churn.
- Use: Condo pre-sales, fit-out packages
- Docs: Escrow terms, LC draft
- Instruments: Escrow, MT700
7) Offtake/Revenue-Backed Project Finance
Debt sized on stabilized NOI or contracted revenues with SBLC liquidity backstop.
- Use: Toll/parking, utilities, concessions
- Docs: Offtake contract, DSCR model
- Instruments: Loan + SBLC liquidity facility
8) Municipal/TIF Credit Enhancement
SBLC wraps incremental tax pledges, improving bond pricing and acceptance.
- Use: Urban regen, infra districts
- Docs: Ordinances, fiscal study
- Instruments: SBLC-wrapped muni bonds
9) Forfaiting / Assignment of Rents
Discounts future rents or concession fees; SBLC covers performance/tenancy risk.
- Use: Stabilized assets, concessions
- Docs: Lease schedule, NOCs
- Instruments: Sale of receivables + SBLC
10) Green/ESG-Linked Facilities
Green bonds/loans for sustainable builds with SBLC for EPC or O&M guarantees.
- Use: Net-zero, LEED/BREEAM assets
- Docs: SLBs/ESG KPIs, verifier
- Instruments: Green loan/bond + SBLC
Segments We Serve
Residential (single & multifamily), Commercial (office/retail), Industrial & Logistics, Hospitality, Healthcare, Education, Transport (air/rail/ports/parking), Utilities (power/water/waste), Mixed-use & Urban Regeneration, Affordable/Social Housing.
Property Tax SBLC vs Other Instruments
| Instrument | Trigger | Best Use Case | Owner Protection |
|---|---|---|---|
| Property Tax SBLC | Buyer default | Real estate tax/assessment obligations | 🔒🔒🔒🔒🔒 |
| Bank Guarantee | Contract breach | Lease/tender/customs | 🔒🔒🔒 |
| Performance Bond | Performance failure | Construction/EPC | 🔒🔒🔒🔒 |
| Escrow | Escrow terms | Deposits & pre-sales | 🔒🔒 |
| LC (MT700) | Compliant documents | Materials/equipment | 🔒🔒🔒🔒 |
Approved Issuing Banks for SBLC (25+)
BIC/SWIFT references are indicative; branch codes vary by file. Click a code to copy.
| Bank Name | Country/Region | SWIFT Code | Fees | Special Conditions |
|---|---|---|---|---|
| HSBC Hong Kong | Hong Kong | HSBCHKHHXXX | 1%–4% | Fixed verbiage; Tier-1 acceptance |
| BNP Paribas | France | BNPAFRPP | 1%–4% | Strong EU networks |
| Bank of China (HK) | Hong Kong | BKCHHKHHXXX | 0.5%–7% | Asia trade focus |
| Mashreq Bank | UAE | BOMLAEAD | 0.5%–6% | MENA corridors |
| Standard Chartered (Dubai) | UAE | SCBLAEAD | 0.5%–7% | High doc standards |
| UOB Bank | Singapore | UOVBSGSG | 0.5%–6% | APAC large caps |
| Crédit Agricole CIB | France | AGRIFRPP | 1%–4% | A-rated; structured trade |
| Maybank Berhad | Singapore/MY | MBBESGS2 | 1%–4% | ASEAN corridors |
| DBS Bank | Hong Kong/SG | DBSSSGSG | 4%–6% | Sight & Usance expertise |
| Israel Discount Bank | Israel/USA | IDBYUS33 | — | High amounts up to 500M |
| New York Community Bank | USA | NYBCUS33 | 1%–4% | Standard procedures |
| Valley National Bank | USA | LUMIUS3N | 1%–4% | Correspondent routes |
| JPMorgan Chase | USA | CHASUS33 | 0.5%–7% | Global reach; quick SWIFT |
| Citibank | USA | CITIUS33 | 0.5%–7% | Multi-currency hubs |
| Deutsche Bank | Germany | DEUTDEFF | 0.6%–8% | Complex corridors |
| Commerzbank | Germany | COBADEFF | 0.6%–7% | EU SMEs & infra |
| Barclays | United Kingdom | BARCGB22 | 0.6%–7% | UK & EU trade |
| HSBC London | United Kingdom | MIDLGB22 | 0.5%–8% | Asia–EU bridge |
| PG Asia Investment Bank | Malaysia | AINEMY22 | 1%–4% | Fast issuance; APAC agility |
| Dushanbe City Bank | Tajikistan | LCMDTJ22 | 3%–7% | Flexible jurisdiction |
| Standard Commerce Bank | USA | STDMDMDMXXX | 1%–4% | Multi-format deliverables |
| Asia Pacific Investment Bank | Malaysia | ASPMMYKL | 1%–4% | Confirmation possible |
| Credit Foncier IM UND Export GmbH | Germany | CFEGDE82 | 1%–4% | EU-regulated, structured |
| Unibanque | United Kingdom | UNBQGB22 | — | SME-friendly; flexible |
| Tabarak Investment Capital | UAE | TIBIAEADXXX | — | MENA projects |
| Golden Touch Investment Bank | Malta | GTIVMT2LXXX | — | Private structuring |
| Al-Amanah Islamic Investment Bank | Philippines | AIIPPHM1XXX | — | Sharia-compliant |
| Point Bank | United Kingdom | POITGB21 | — | Agile terms |
| Ace Investment Bank | Malaysia | AIBMMYKL | — | Short-term deals |
| United Bank for Investment | Iraq | UNTVIQBAXXX | — | Regional trade |
| ABC Banking Corporation | Mauritius | ABCKMUMU | — | SME & African flows |
| Exim Bank Tanzania | Tanzania | EXTNTZTZ | — | East Africa corridors |
| Mauritius Commercial Bank | Mauritius | MCBLMUMU | — | Regional hub |
| Maubank Ltd | Mauritius | MPCBMUMU | — | Flexible onboarding |
| China Construction Bank (HK) | Hong Kong | CCBQHKAX | — | HK gateway |
| UCO Bank (HK) | Hong Kong | UCBKHKHHXXX | — | Conservative wording |
| Dah Sing Bank (HK) | Hong Kong | DSBAHKHHXXX | — | Strict verbiage |
| CTBC Bank (HK) | Hong Kong | CTBKHKHHXXX | — | Sight & Usance |
| Indian Overseas Bank (HK) | Hong Kong | IOBAHKHHXXX | — | Trade corridors |
Our 5-Step SBLC Issuance Process
- Submit required documents — intake + compliance checks.
- Receive a tailored draft — SBLC wording aligned to your agreement.
- Approve final version — beneficiary/issuer validation.
- Pay issuance fees — transparent, linked to size/risk.
- MT760 issued — secure SWIFT to beneficiary bank; MT999/199 confirmations as needed.
Secure Intake — Owners, Developers, Investors/Lenders
We also partner with accredited brokers like Barcelona Capital Inc. (among many others) for select corridors.
Client Reviews (10)
M. Roy — Quebec Municipality ★★★★★
“Property tax SBLC de-risked our redevelopment timeline.”
H. Kim — Industrial Park ★★★★★
“Performance bond + SBLC combo kept our EPC on track.”
S. Alvarez — Mixed-Use Sponsor ★★★★★
“LC for materials avoided costly delays and re-quotes.”
A. Patel — Healthcare REIT ★★★★☆
“Documentation was strict—but execution was swift.”
F. Zhang — Logistics Hub ★★★★★
“SBLC liquidity backstop improved our financing terms.”
L. Costa — Hospitality Group ★★★★★
“Rent SBLC satisfied landlord’s covenants on day one.”
O. Mensah — Affordable Housing ★★★★★
“Municipal credit enhancement made the bond fly.”
J. Singh — University Housing ★★★★★
“Forfaiting of rents accelerated our construction draw.”
C. Brown — Utilities PPP ★★★★★
“SBLC wrapped revenue floor improved DSCR comfort.”
N. Farah — Retail RE Dev ★★★★★
“Escrow + LC combo kept suppliers perfectly aligned.”
Frequently Asked Questions (15)
1) Is a Property Tax SBLC legally binding for payment?
Yes. Properly issued under ISP98, an MT760 SBLC creates an irrevocable obligation subject to its terms.
2) How is authenticity verified?
Via receiving bank over SWIFT (e.g., MT999/199), or GPI tracking where available.
3) What tenor can we get?
Commonly 6–24 months with renewal/extension options; longer on a case-by-case basis.
4) Are partial drawings allowed?
Yes if specified; define milestones and documentary evidence in the SBLC text.
5) Can we add confirmation?
Yes, through our network of confirming banks, subject to country/bank risk and pricing.
6) What are typical fees?
Usually 1%–4% p.a. plus confirmation (if any). Complex projects may vary.
7) What collateral is required?
Depends on issuer and applicant strength: cash margins, assets, guarantees, or structured security.
8) Which currency works best?
USD, EUR, GBP are most liquid; others case-by-case with FX considerations.
9) Can one SBLC cover multiple properties?
Possible with clear schedules/allocations; many beneficiaries prefer one SBLC per asset.
10) How quickly can issuance happen?
Straightforward files: 5–10 business days post-KYC and final draft approval.
11) What if a bank declines?
We re-route to alternative issuers/confirmers consistent with corridor appetite.
12) Is escrow still useful if we have SBLC?
Yes—escrow helps manage deposits while SBLC guarantees specific obligations.
13) Which rules should we choose?
ISP98 is preferred for SBLCs; UCP 600 acceptable depending on beneficiary policy.
14) Can the SBLC be discounted?
Yes—certain cases allow discounting/monetization with confirming banks.
15) Do you support ESG transactions?
Absolutely. We can embed ESG KPIs and source green/impact capital where applicable.
Compliance & Standards
All mandates undergo KYC/AML & sanctions screening. Instruments align to ISP98, UCP 600, or URDG 758 as appropriate. We may decline engagements that present elevated compliance or reputational risk.