Did you know that 80% of Letters of Credit are rejected on first presentation and over 50% on second presentation?
Letters of Credit (L/C) are one of the most financial secure payment vehicle used in overseas trade, allowing successful trade with the riskiest of customers and countries however they can prove a minefield and if not followed precisely can lead to expensive bank charges, costly delays in payment and could even result in lost business opportunities and contracts.
Designed to be flexible, the service is able to meet varying client needs from a simple advisory service to a fully-managed trade finance solution.
Comprehensive export Letter of Credit management service:
- Work through the initial draft L/C and point out workability issues. Provide suggestions for amendments.
- When shipment takes place:
- Produce documentation such as invoices, packing lists and beneficiary certificates, apply for certificate of origin as required based on information provided
- Liaise with 3rd parties e.g. freight forwarders and insurance brokers to ensure correct documents such as bills of lading, AWBs and insurance certificates are produced to L/C terms.
- Collate all documents and present them to the bank in a timely manner
This service is offered by our partner, an expert in this field, who offer a fully comprehensive L/c service, from receiving an enquiry through to presentation of documents to the bank. They will guide you through every phase of the procedures, ensuring that any worry is removed and help you over the various hurdles that may arise.
Price dependant on complexity and number of presentations (e.g. stage payments or part shipments)
For further information, please contact us on 01753 870560 or email export@tvchamber.co.uk
For further information, please contact the Chamber’s International Trade team on 01753 870560 or email export@tvchamber.co.uk