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The first and MOST IMPORTANT reason is ACCELERATED PAYMENT. You have fulfilled your part of the bargain and you WANT TO RECEIVE payment TIMELY in accordance with terms of the Letter of Credit. You don't want ANY delays! |
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EVERY DOCUMENT presented for payment MUST BE COMPLETELY ACCURATE in format as well as content. That not only includes presenting every required document properly prepared but it also means literally dotting every " i " and crossing every " t ". Presenting documents for payment on an L/C is about the closest thing to perfection we have seen in any business. Every improperly prepared document or incomplete document and every mistake is a DISCREPANCY. BANKS ABSOLUTELY LOVE DISCREPANCIES on document presentations on Letters of Credit. They get to charge for EACH DISCREPANCY. That is money out of your pocket and that also represents a DELAY IN PROCESSING PAYMENT THE PAYMENT to you. |
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We process Letters of Credit for payment EVERY DAY. Our staff has the extensive experience in handling Letters of Credit and in preparing presentations for payment. A portion of the documents involved in L/C presentations are almost always international transportation documents. They must be precise. Having been experts in the international transportation business for OVER A QUARTER CENTURY, we know the way it should be to meet bank requirements. We've seen all types of Letters of Credit with every requirement imaginable. Preparing presentations for payment on some Letters of Credit is somewhat similar to preparing tax returns for the U.S. Internal Revenue Service. You really don't want to go there. Using a professional is simply more efficient and cost effective. |
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We thoroughly examine every detail of your Letter of Credit. We arrange for Consular Legalizations if required. We prepare any document we can legally prepare to satisfy requirements. We put together the complete presentation to the L/C corresponding bank. We place the presentation in the hands of the appropriate person at the bank. We maintain continual contact with the bank until payment has been approved. |
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