What is a Letter of Credit?
A documentary credit, or more popularly known as a ‘Letter of Credit (L/C)’, is a guarantee issued by a bank assuring payment of goods. The L/C will have strict terms specifying the amount of money to be paid, time frame and documentation required. Studies show 75% of all first time applications are rejected by the bank, resulting in unnecessary charges.
What does our service include?
- Full management from draft to approval
- Advice on L/C terms
- Assurance that all L/C terms are met
- Preparation of all shipment documents
- Full visibility of documents online
- Liaison with freight forwarders, shipping companies, inspection agents etc.
- Arrangement of cargo insurance
- Compliance check for third party documents
- Advice on appropriate Incoterms® 2010
- Strong relationships with major UK banks
- Presentation of all documentation to the bank within agreed deadline
Why not call the team to discuss your options on 01202 714804.