Your request was sent successfully We will contact you soon
Q:
What is the charge for opening a letter of credit?
A:
The letter of credit charge depends on a number of factors. Our agents can provide you with an up to date Tariff schedule. For first time clients, fees are quoted on a case by case basis.
Q:
What is the maximum size letter of credit that you open?
A:
We are able to open letters of credit of almost any size. We consider the complexity of the transaction; the goods that are being trades; and, other factors having to do with the parties to the transactions and where they take place.
Q:
For what type of goods do you open letter of credit?
A:
We can open letters of credit for any type of goods provided they fall into our ethical and legal criteria. That said, we will not get involved in transactions involving weaponry or ammunition under any circumstances.
Q:
I opened a letter of credit to my supplier, but he did not ship the goods. Will you refund my fee?
A:
Once the letter of credit is opened your fee cannot be refunded. We recommend to all of our clients that they need to assure themselves of their suppliers' ability to perform before opening any banking instruments to them.
Q:
Can we issue a confirmed instrument?
A:
Yes, in some special cases.
Q:
I generally open letters of credit through my bank. How are your letters of credit different?
A:
The letters of credit that we open are opened using our bank accounts at prime banking institutions. When you open the letter of credit through your bank, you use your credit line. When you open through us, you use our credit lines.
Q:
Why do I need to pay your fee before you open the letter of credit? Can't you take your fee out of the profits of our transaction?
A:
We do not participate in the transactions of our clients as a party to the transaction other than a provider of certain financing. Therefore, we do not participate in the profits of our client's transactions. Our fees are the same regardless of the profit margin in the transaction.
Q:
Can I cancel my letter of credit after it has been opened?
A:
All of the instruments that we issue are irrevocable and cannot be canceled except by the beneficiary.
Q:
Can we issue instrument that will be accepted by A-class bank?
A:
Yes.
The procedure for issuing a financial instrument >>