Managing the Letters of Credit Process

2018-05-24T15:05:51+00:00October 10th, 2016|

Who do you currently present your letter of credit documents to? Your own bank? Another preferred bank in your own country? Or…… are you being forced to deal with a local office of the issuing bank or their preferred correspondent?  Consider completing and sending to your customer a Letter of Credit Request Template prior to the issuance [...]

What is a Confirmed Letter of Credit?

2018-05-24T15:26:16+00:00March 5th, 2016|

A confirmed credit is one to which a second bank, usually in the exporter’s country, adds its own undertaking to that of the issuing bank, that payment will be made.  This is appropriate if an exporter does not find the security of an unconfirmed credit sufficient (due to issuing bank risk or political / economic [...]

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