What We Offer
Online pre checking of the documents according to the terms and conditions of the letter of credit and international standards.
The main purpose is to present documents ensuring everything is in order and support our clients to get their proceeds without delay and increase their profit margins.
Online pre-checking of Letter of Credit (LC) documents
One of the advantages of the letter of credit is to secure your payment without risk of default of the beneficiary. But in most of the cases a small mistake in the documentation may lead to delays in payment and increase your cost and decrease profitability due to huge bank charges and interest payment effects. The major reason for this is lack of knowledge in submitting the documents for negotiation as per the UCP600 of International Chamber of Commerce. Keeping in view these issues we would like to offer this facility of “Online Pre-checking of L/C Documents”.
Following are the brief advantages and comparison for you to make a decision:
Importers or exporters can access through email and upload documents across the globe. Your presentation will be analysed online within the given timeframe before submission to the negotiating bank for payment.
We have in depth practical knowledge to ensure that any discrepancies are rectified before presentation. We will advise your staff how to make L/C documents which fulfil the terms and conditions of the letter of credit and UCP600 of ICC.
One of the major advantages of this unique online facility is to cut down the cost and increase profitability of our clients. For example in case of discrepant documents, following are the additional compulsory charges which an exporter has to bear:
- Discrepancy charges usually up to GBP100 in UK.
- Interest charges due to delay in payments if documents were sent on collection.
- Communication charges like telephone/fax/swift.
- Exchange rate risk, as the world market is highly volatile and exchange rates are highly volatile if you are not certain about your earnings and not aware of future risk you are not a good businessman.
We do not charge for rectification of discrepancies within the presentation period.
We provide free training for your staff to prepare L/C documents as required in letter of credit and also under the guidelines of UCP600.