Specialists in Trade Finance Instruments

Your partner in International Trade

SERVICES OFFERED

Documentary credits through Trade Finance Services have worldwide acceptability and can be issued via TELEX or SWIFT.

Commercial Letters of Credit

A commercial letter of credit is a direct payment method in which the issuing bank makes the payments to the beneficiary.

Confirmed Letter of Credit

Used when the issuing bank of the letter of credit may have questionable creditworthiness and the seller seeks to get a second guarantee to assure payment.

Standby Letter of Credit

Used as "payment of last resort" should the client fail to fulfill a contractual commitment with a third party.

Revolving Letters of Credit

Single L/C that covers multiple-shipments over a long period. Instead of arranging a new L/C for each separate shipment.

Advance Payment Guarantee

Advance Payment Guarantee advance payment bond issued to a contractual obligation alongside advance payment.

Performance Guarantee Bond

Performance Guarantee performance bond. A guarantee that clients will fulfil their contract obligations.

Hassle Free LC at Sight and Usance LC

An LC at sight is a letter of credit (LC) that is payable immediately

A 'sight' LC means that payment is made immediately to the beneficiary/seller/exporter upon presentation of the correct documents in the required time frame. A 'time' or 'date' LC will specify when payment will be made at a future date and upon presentation of the required documents.

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What all instruments you provide ?

  • Commercial Letters of Credit
  • Confirmed Letters of Credit
  • Standby Letters of Credit
  • Revolving Letters of Credit
  • Back to Back Letters of Credit
  • Bid Bonds (Tender Guarantee)
  • Invoice Financing
  • And more..
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Frequently Asked Questions

List of frequently asked questions for your understanding

Letter of Credit

A letter of credit triggers payment to the exporter only after the required pre-determined documents have been sent to a bank or financial institution.
If the quantity of products shipped out (as seen on the packing list and on the bill of lading) is outside the tolerance set in the letter of credit, it causes a discrepancy. In this case, the importer has the choice to accept it (in which case he can receive the shipment, and the supplier gets paid) or to refuse it.
Therefore, the buyer does not need to wire an advance payment that binds him to a potentially unethical foreign supplier. The importer keeps the freedom to refuse the products and cancel the payment if at least one document has a discrepancy, including if the products were of sub-standard quality.

Who can open ?

Anyone can open a letter of credit with us for a fee. Your credit rating or standing with the bank or lender has no effect.

What if its beneficiary rejects ?

Before paying any upfront fees, Trade Finance Services will give you a L/C draft to send to your beneficiary. Once the beneficiary has accepted the verbiage, you can pay your fees and we will SWIFT out the documents within 1-2 business days.

What is the process of applying ?

  1. Fill out our quote form.
  2. After some paperwork, we will be able to provide you with a quote for the fee and a letter of credit draft.
  3. Get our letter of credit draft accepted with your supplier/beneficiary.
  4. Pay our fees and get indemnity documents signed and notarized.
  5. One of our partner finance institutions will issue your letter of credit and SWIFT it to the beneficiary's bank.
  6. Beneficiary will send documents back to our finance institution and ship your goods to your port of destination.
  7. When the documents arrive, we will fax over the copies of all of the documents to you. At this time we will also check the documents as per the terms. Documents include bill of lading, invoice, insurance certificate, certificate of origin, and whichever documents you require.
  8. When the goods arrive, they go into a bonded warehouse. Here you may inspect the goods. If the goods are satisfactory, you can pay us the money for the supplier in exchange for all of the original documents.
Note: In a USANCE letter of credit, you can have up to 1 year to pay your supplier. However, the supplier must agree to the terms before the letter of credit is issued.

Type of Proof of Funds

We can arrange an online account or a Certificate of Deposit at a multi-billion dollar vencap firm. Written Verification of Deposit (VOD) is available, as are account statements and access to an online account summary. Confirmation letters, verbal and fax verification are also provided. SWIFT message to SWIFT SCORE member banks providing account status and transaction details are available at an additional cost. Terms and Conditions apply for POF.
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