Letter Of Credit

Provided by our appointed partner Synergy in Trade.

Letters of Credit are the most secure means of getting paid in international trade transactions and are often very complex. A letter of credit guarantees payment for goods shipped provided you meet all its conditions.

Up to 65% of documents are rejected on first presentations to banks. Success is dependent on your ability to present accurate shipping documents to the bank which strictly meets the terms and conditions of the letter of credit. Get the documents wrong and you face delays in payment or in some cases no payment. Can you afford to take that risk?

Using the Chamber Letter of Credit service with our appointed partner Synergy in Trade will take away the worry from you. You will be able to access part or all of the service as suitable to your business.

With years of experience in international banking, specialising in Letters of Credit Synergy in Trade will provide:
As a chamber member you will benefit from an excellent service at a 10% discount off the marked price. There will be a choice of four service
levels available.

What the Letter of Credit Service can do for you:

  • Examine your contract and/or order

  • Provide you with a LC template to send to your buyer

  • Thoroughly vet a draft of the LC which the buyer’s bank proposes to issue

  • Check & agree the terms and conditions of the letter of credit once issued

  • Produce all the shipping documents on your letterhead, working with the freight forwarder and any other third parties to approve third party documents

  • Present documents directly to the bank for payment.

  • Provide the correct responses to enquiries from the advising bank.

For more information call the International Trade team on 01604 790921 or email us at exportdocs@northants-chamber.co.uk