If your company has grown to a point where you are shipping products abroad, it is a great achievement to think other companies across the world will be using your services.
If this is in its infancy and you are not sure how to secure credit for shipments of products and materials, Select Factoring can help you with our Letters of Credit Service.
What are Letters of Credit?
Letters of Credit are a way of securing payment from your clients, and shipping products overseas usually trade on these terms.
Letters of Credit can be incredibly complex but Select Factoring can provide a simple hassle free service to work with you to complete the paperwork needed to ship products and materials abroad.
If you have been requested to ship products abroad, or had a large order that needs to be shipped, speak to us straight away, we like to get involved right at the beginning of the process to ensure everything goes smoothly. We can liaise with the client overseas to ensure the Letter of Credit will secure payment. This works both ways and give security to both the buyer and the seller.
Once shipment is about to commence we will present the documents to the bank for the funding upfront.
A Letter of Credit is just the first hurdle to shipping products and securing funding. Once the shipment has been received, there are a number of processes, which need to be completed, to ensure a swift easy process, make sure you use Select Factoring for Letters of Credit, we are here to provide solutions and support you through the process.
Select Factoring have always been successful working with our clients to obtain funding through Letters of Credit.
It is another solution to finance problems from a range that we at Select Factoring can provide.