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Opals Red Key LLC

(513) 427-8641 3493 trabecca lane, Mount Orab, OH 45154 M-Sa 9am-7pm, Su Closed

Categories: Financial Planning

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Trade Finance Services Letter of Credit – L/C Standby Letter of Credit – SBLC Bank Guarantee – BG Performance Guarantee Bond Tender Bond Guarantee Advance Payment Guarantee Bank Comfort Letter ------------------------------------------------------------------------- Letter of Credit (L/C) is one of the safest financial instruments available for an Exporter to ensure that they will get their payment(s) of a particular amount & in a specific currency within the specified time period. The Importer is also sure of the Exporter’s reliability to supply their required commodities, its quality, quantity and shipping, etc. as per the agreed terms between them. The Letter of Credit is also known as ‘Documentary Letter of Credit’, ‘Import Letter of Credit’ or ‘Commercial Letter of Credit’. It is a written undertaking given by a bank (LC Provider) to the seller/exporter and a technique for financing International trade by which a buyer’s bank provides the irrevocable commitment, at the request and for the account of its client/importer to pay the exporter against the handing-over of various documents complying with the terms of the letter of credit and the nature of the goods stipulated in the pro-forma invoice or sales contract within a set time limit. These documents normally include commercial invoice, packing list, bill of lading or air waybill, certificate of origin, inspection certificate, etc. To establish Letters of Credit (L/C) in favor of the seller/exporter – called as beneficiary, the buyer as the applicant of the LC pays the agreed cash margin including LC commission, processing fee & swift charges upfront to the LC issuing bank as provider. The supplier or exporter may also obtain from their bank a credit-line or a packing-credit against the Letter of Credit to mobilize their export and their bank will collect the advance funds upon negotiation of the LC with the importer’s bank.

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