Letters of credit make it possible to do business worldwide. They are important and helpful tools, but you
should be careful when using letters of credit.
As a seller, you have to know about LETTERS OF CREDIT (L/C) well and ask for the conditions you need to
make such a shipment. You have to make sure The Buyer includes every condition you asked for:
-type of the L/C
-documents you have to prepare
-shipment way and date
-way of payment
-who will pay for the fees
You must then carefully review all requirements for the letter of credit before moving forward for below points:
-Are you able to get all the documents required for the letter of credit ?
-Can you ship on or before shipment date ?
-How quickly your service providers (shippers, etc) will make and send the documents ?
-How quickly you can get documents attested by Chambers of Commerce / Embassies etc. (if needed) ?
-Can you make all required documents match the letter of credit exactly ?
-Can you submit the documents to the bank on time ?
Preparing Letter of Credit presentations yourself can unnecessarily increase risk and expense to your firm. Document
presentations that are not submitted error-free and without discrepancy in every aspect will be rejected by the bank. When this
happens, the guarantee of payment goes away and you may be looking at weeks and even months added to the payment cycle, not
to mention the increased banking fees. Can you get the risk not getting paid on your Letter of Credit?
You’d better use a professional service for
-the conditions of the letters of credit that you will ask for from The Buyer
-making the documents and submitting them to the bank.
We have been opening and processing letters of credits for over 30 years. You can trust us. Please contact us to get more
Gold Cup Logistics
77 Union Pl.
Summit, NJ 07901