Letter of Credit

Getting paid on time and securely is the most important financial consideration when trading internationally, a Letter of Credit will ensure that you avoid problems when it comes to payment. Dundee & Angus Chamber of Commerce is working in association with Business West and Acorn International to offer a fully managed Letter of Credit service to help relieve the additional pressure that Letters of Credit can bring.

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Guarantee Payment for your Exports

Guarantee Payment for your Exports

Take the hassle out of Letters of Credit for your business.

A Letter of Credit is an official document that is typically issued by the importer’s bank, but is only secure if you, as the exporter, meet all of its strict conditions and deadlines. Worryingly, over 75% of UK exporters who do their own Letter of Credit paperwork experience problems getting paid due to incorrect paperwork.

What is a Letter of Credit?

A Letter of Credit (L/C) is the basic document for documentary credit, a guarantee issued by a bank assuring payment for goods at the request of a buyer, undertakes to pay the seller of the goods a certain amount. The Letter of Credit will have strict terms specifying the amount of money to be paid, time frame and documentation required.

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How can we help?

How can we help?

A fully managed, comprehensive service

The Chamber Network are leaders in export documentation preparation and can take the hassle out of Letters of Credit for your business. The Business West and Acorn Intl team of experienced staff will use their strong relationships with all the major global banks to ensure that you receive payment on time for your exports. Delivering a fully managed, comprehensive service that conforms to Letter of Credit requirements with a view to securing payment for your goods.

Over 75% of exporters who do their own Letters of Credit do not get paid due to incorrect paperwork. The Chamber Network has a reputation for getting it right first time. By using this service you will:

  • Save time and money.
  • Secure payments for goods exported.
  • Avoid bad debts.
  • Enhance your reputation for efficiency and reliability.
  • Increase your profitability.

What does the Letter of Credit service include?

  • Advice on Letter of Credit terms.
  • Assurance that all Letter of Credit terms are met.
  • Preparation of all shipment documents.
  • Full visibility of documents online
  • Liaison with freight forwarders, shipping companies, inspection agents etc.
  • Compliance check for third party documents.
  • Advice on Incoterms® 2020.
  • Strong relationships with all major UK banks.
  • Presentation of all documentation to the bank within agreed deadlines.

Get started with our Letter of Credit service

To speak to one of our international trade officers about how we can help your business with Letters of Credit - international@dundeeandanguschamber.co.uk

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