Letter of Credit Service
Norfolk Chamber provides a high quality Letter of Credit Service, which removes the fear that some exporters have, when it comes to the intricate detail stipulated in an L/C.
The fear that some companies have of Letters of Credit, mean that they are potentially losing business as they are not willing to agree to these terms of payment - our L/C service will alleviate that fear.
National figures show that when documents are submitted to the Bank by exporters, on their first presentation, 80% are rejected. When they make their second attempt, 50% are still rejected.
Although this is a fairly new offering from us, the service itself has been ongoing for more than 15 years and to date, has a record of 98% acceptance on first presentation and 100% on the second attempt.
We deliver a professional service whereby your Letter of Credit is passed to our associates who will then:
- Check the conditions in the L/C to ensure you can meet them
- Inform you of any amendments that you need to obtain
- Prepare all the relevant documents
- Speak with the Shipping Agent
- Check the Bills of Lading
- Present all the documents to the bank
The next thing you know, the money is in your bank account!
The service is becoming very popular with local firms; here are a few comments from our latest clients:
It took all the worries and concerns I had dealing with a letter of credit away.
Steve Fisher, Norfolk Truck & Van Ltd
Just very easy, all the hard work was taken away from me.
Stuart Harvey, Softstart UK Limited
I would definitely recommend the service. I felt completely supported throughout the whole process; help and explanations were always at hand when I needed them.
Gary Williamson, GT Bunning & Sons
For more information, or details on the costs, please contact the International Trade Team on Tel. 01603 729712 or by email at: firstname.lastname@example.org