Getting paid on time and securely is essential when trading internationally. A Letter of Credit provides a bank-backed guarantee, ensuring you receive payment without delays or complications.
A Letter of Credit is a secure payment guarantee issued by a buyer’s bank, ensuring that the exporter receives payment for goods or services, providing all specified terms – such as documentation, deadlines, and payment amounts – are met.
Many UK exporters who handle their own Letter of Credit documentation face challenges in receiving payments, with over half experiencing delays or rejections due to non-compliance with Letter of Credit requirements.
Our team excels in preparing export documentation and can simplify the process of managing a Letter of Credit for your business. Our experienced staff leverages strong relationships with major global banks to ensure compliant submissions. We offer a comprehensive, fully managed service aimed at securing payment for your exports.
Fees are based on the value (£ equivalent) of the export covered by your Letter of Credit. For detailed pricing and service information, contact us.
Let us handle the complexities of Letters of Credit, so you can focus on growing your business.
If a Letter of Credit isn’t suitable for your business, there are other ways to ensure you receive payment when exporting goods internationally. Our team is here to help you explore these alternatives.
Export Collection, also known as Cash against Documents (CAD), is a common payment method in international trade. Payment can be required either at sight or at a future date. However, it’s important to note that banks involved in this transaction do not guarantee payment.
An open account transaction involves shipping and delivering goods before payment is due, typically within 30, 60, or 90 days. While this method poses a higher risk to the exporter, protection can be sought through export credit insurance.
For more information on any of these payment options and their associated costs, please contact our team!
Learn more about Letters of Credit on our Trade Expert Training Course.
