Documentary Letter of Credit Service
A Documentary Letter of Credit is a secure method of payment in international trade, which is used to guarantee payment for exports and to provide financial protection to the buyer and seller. An exporter will usually choose to use this method of payment when selling goods to high-risk clients or markets.
Although a Letter of Credit remains the safest method of export payment, preparation of shipping documents covered under this system requires great care and attention to detail, not to mention shipping and banking expertise. Many exporters face multiple problems when preparing Letter of Credit compliant documentation, including:
• Late presentation of documents to the bank
• Delays in payment
• Discrepant documents and associated fees
• Too much time spent dealing with documentation
• Inconsistent service/information
• Ongoing training needs for staff in L/C compliance
We were the first U.K company to recognise that the correct preparation of Letter of Credit documentation could dramatically minimise payment risk and accelerate receipt of funds for its clients. Using experienced members of staff and a pioneering web-based document management platform, we can eradicate high discrepancy fees and improve a company’s working capital.
Our service includes:
• Taking care of your credit from the outset, be it the checking of documentation to ensure that it complies with the terms of the credit, or the raising of documents such as invoices and packing lists, liaising with exporter and shipper every step of the way
• Downloading of L/C directly from selected banks
• Arranging authentication and legalisation of documents if required, using our own in-house documentation service, including online certification, courtesy of the London Chamber of Commerce
• Presenting documents (electronically where possible) to the bank and ensuring that payment has been made
Please contact our Sales team on +44 (0) 1784 254123 or please use our online contact form to discuss your Letter of Credit documentation requirements.