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DOCUMENTARY LETTER OF CREDIT RISK ANALYSIS

Reading a Letter of Credit is the first most important point in creating good Banking Documents. It may sound like a funny statement, but to someone not specialized in this field, reading a Letter of Credit is not like reading a simple instruction set. It requires in-depth subject matter knowledge, it requires Logistics knowledge, and an eye for contract loopholes, gray language and requirements inherently in the Letter of Credit that may trip you or simply not be doable. It is a Contract. The ‘Risk Analysis’ under the management of a Documentary Letter of Credit is a term that was first coined by the Principal of Letter of Credit Solutions.com . We understand what should be in the Letter of Credit and what shouldn’t. It sounds simple, but it’s not. We go back and review the quote, the sales acknowledgment, the purchase order, the proforma invoice and Letter of Credit prior to the issue across the board and not only look for inconsistencies but also consider all Logistical issues and write up a full report of all of the potential problems that could arise due to Letter of Credit language.

DOCUMENTARY LETTER OF CREDIT MANAGEMENT

At times, a Letter of Credit simply arrives on the Credit Managers’ desk. It’s left to them to put the pieces together. Their information may be limited to their specialty which is the Finance aspect. Without the knowledge of the current UCP or ISBP or Logistics, bank ratings, country ratings, and a multitude of aspects that go into deciding whether to accept the Letter of Credit as well as to have it ‘confirmed’. They may not have the necessary tools to make recommendations or to put a credit hold on the shipping process. The Letter of Credit is a Contract. We are not attorneys, and Legal Council is always recommended to be one of the parties that review the Letter of Credit. Our assistance and guidance are based on our personal experience and knowledge of LC influences. This assistance begins prior to the issuance of the Letter of Credit as there are many times throughout establishing the Letter of Credit, where points should be discussed and negotiated, before it arrives to the Credit Manager. This will empower them to manage a Letter of Credit most effectively.

DOCUMENTARY LETTER OF CREDIT DOCUMENTATION

Documents are everything. You need the correct and accurate Documents to get paid, to get through U.S. Export Customs, Foreign Customs importation, to support the terms and conditions of a purchase order, to satisfy the Exporters internal policies, U.S. Governing Laws, the governing UCP and ISBP and of course the Letter of Credit. Not everyone that claims they can ‘handle’ Letters of Credit and their subsequent required documents really know all of the considerations involved. We, at Letter of Credit Solutions.com, ensure that we create all of the Documents required under the Letter of Credit with consideration to all of those factors clearly at the forefront of every piece of data we input. It’s simply not enough to know the basics. We create documents every day and have banked Billions of US Dollars’ worth of Letters of Credits since our inception. We have made a huge difference to countless Exporters bottom lines and have helped them get paid as quickly and as effectively as could be done. We know the elements necessary in the Export Documents and can get you paid.