OVERVIEW

LC Expedite handles all matters related to your letters of credit.

• We offer advice to ensure your letters of credit are workable and meet any contractual conditions
• We look over your internal documentation and reproduce where necessary
• We liaise with your appointed transport company and other external parties
• We collate all documentation and present it to the bank on your behalf, monitoring the process until payments are confirmed

THE ORDER IS PLACED

Well done! You have landed a hard-earned export order and your customer is opening a letter of credit in your favour. Everything is in order now – or is it?

If you’re not aware of the complex rules and regulations, you may encounter problems with your letter of credit further down the line. LC Expedite’s experienced and knowledgeable team can help you with the letter of credit process, making sure you and your customer have the smoothest transaction possible.

ISSUING BANK

Once a letter of credit has been opened by the issuing bank, the clock is ticking.

Computers with export software have an important role to play in modern-day exporting, but they cannot help you spot a complex clause in a letter of credit’s terms. Neither can software check the infinite detail that accompanies letter of credit management, like the issue of your Bill of Lading, packing documentation and your insurance risks and certificates.

Letter of credit management can be a complicated process which, if mishandled, could have a negative impact on your customer relationships. Having LC Expedite’s expert eye on the process is a safeguard against this – a definite advantage to you and your customers.

COORDINATION WITH YOUR COMPANY

LC Expedite will work with your company, coordinating all the internal aspects of your letters of credit from issue to completion.

As soon as your letter of credit is issued, LC Expedite will:

• scrutinise the letter to ensure the letter of credit is workable and is in accordance with the terms agreed in the contract with your customer, suggesting amendments when necessary
• alert you of any possible problems in advance of the goods being shipped
• confirm the supply of goods and/or services will meet with the letter of credit expiry date
• ensure that the packing and marking of the goods complies with any specific requirements
• produce your documentation (such as invoices, packing lists, weight notes and declarations) or ensure they have been produced correctly on your behalf

COORDINATION WITH OUTSIDE ORGANISATIONS

LC Expedite will work with your company’s chosen service providers, coordinating all external facets of your letter of credit.

Transport company
LC Expedite will issue comprehensive shipping and Bill of Lading, Airway Bill or CMR (carriage by road) instructions to your freight forwarder or shipping line. Draft copies of the transport documentation and any other required declarations are carefully checked before the team gives the go-ahead for their final issue.

Pre-inspection agency
We will liaise with the appointed inspection agency to confirm that the clean report of findings has been correctly issued and is in compliance with the terms agreed in your letter of credit.

Certification and legislation
Where additional documentation is required, our sister company Consular Consultants Limited will take care of the necessary production, certification and legalisation requirements. They can be contacted at consularconsultants.co.uk or call 01784 221748.

Insurance company
LC Expedite will check the draft copy of your insurance certificate or policy and, when needed, liaise with your insurance company or broker. Alternatively, we can produce the certificate on your behalf.

ADVISING/CONFIRMING BANK

Checking All Documents

• Check draft copies of transport documents before originals are issued.
• Check Insurance Certificate if required.
• Check Inspection Certificate if required.

Bank Presentation
After thorough checking of the documents, LC Expedite will prepare all documentation in accordance with the terms of your letter of credit. We will also present them to the bank on your behalf.

We will be in contact with the bank throughout the process, and will keep you informed until we can confirm payment.

A SUCESSFUL TRANSACTION

Because LC Expedite’s team are fully versed in the intricacies of the letter of credit process and have many years of combined experience, we can guarantee the very best service levels available.

Our clients’ letter of credit dealings are handled smoothly and professionally, and we always achieve the best possible outcome for all transactions. Which is why our clients return to us time after tim