Letters of Credit

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Letters of Credit

Do you trade on letter of credit terms? Select Factoring can help.

If you’re selling overseas & are looking for a secure means of getting paid, then you may have considered trading on letter of credit terms.

Whilst letters of credit gives the seller a high degree of security, the complexity & difficulty of producing & presenting compliant shipping documents can be intimidating. Don’t forget that getting a letter of credit from the buyer is just the first hurdle.

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Hassle free service

Our letter of credit professionals are ex bankers with years of experience in handling letters of credit.

Ideally we want to get involved at the start.  We can, if you wish, liaise direct with the buyer & ensure that the letter of credit is workable & meets your needs. We can provide a draft of the credit to assist the buyer. Likewise we recognise that there are benefits to the buyer & will ensure that the credit also gives protection to the buyer. Once the credit has been issued, we will check it to make sure that you are fully protected.

Upon shipment we will produce all the shipping documents required & present them to the bank for payment. We have never failed any of our clients in not getting paid as a result of us producing & presenting documents under export letters of credit. We can take the hassle away & let you get on with sourcing & supplying the goods.

Back to back credits

Are you trader & receive letters of credit in your favour & need to issue a credit in favour of a supplier or a number of suppliers?

If so, we may be interested in providing you with a back to back letter of credit facility with no security. Transferable credits are not always the answer & are fraught with difficulties. Different currencies, different incoterms & the need to keep the end buyer away from the end supplier makes trading on a transferable credit basis just not practical. Having your own back to back credit facility opens up a whole new world.

This is where we can really add value. Give us a call.

Need a professional Letter of Credit to secure an order?

Select Factoring can help.

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