Letter of Credit Procedure
Letter of Credit, also known as MT700 or import LC; is a document receives by the seller’s bank (beneficiary) from the buyer’s bank that states the capability of the buyer (importer) to purchase the products. It also gives guarantee to the seller that the buyer will pay for the goods on time. With this Letter of Credit, not only the exporter can get benefits but also the importer that can be a result for a successful international trade. For more information, you can visit our website: http://www.bwtradefinance.com/letter-of-credit-lc/ LC Procedure The following steps are to avail LC from BWT: 1. The client needs to submit their LC request along with their trade deal information like Face Value and Validity of their required LC to Bronze Wing Trading. Accompanied by a Signed Copy of Pro forma Invoice or SPA of their trade deal. 2. As BWT receive the information, we will review it and inform the client if their LC application will be approved or rejected. 3. Once the documents are approved, we will inform the client regarding the issuance fee charges. 4. Upon acceptance of the issuance fee charges, BWT will draft the service agreement. Once the admin charges are received BWT will start work on the subject LC transaction. 5. BWT will immediately request the issuance bank for the required LC once we receive the requested documents, approvals and the issuance fee charges.
Letter of Credit, also known as MT700 or import LC; is a document receives by the seller’s bank (beneficiary) from the buyer’s bank that states the capability of the buyer (importer) to purchase the products. It also gives guarantee to the seller that the buyer will pay for the goods on time.
With this Letter of Credit, not only the exporter can get benefits but also the importer that can be a result for a successful international trade.
For more information, you can visit our website: http://www.bwtradefinance.com/letter-of-credit-lc/
LC Procedure
The following steps are to avail LC from BWT:
1. The client needs to submit their LC request along with their trade deal information like Face Value and Validity of their required LC to Bronze Wing Trading. Accompanied by a Signed Copy of Pro forma Invoice or SPA of their trade deal.
2. As BWT receive the information, we will review it and inform the client if their LC application will be approved or rejected.
3. Once the documents are approved, we will inform the client regarding the issuance fee charges.
4. Upon acceptance of the issuance fee charges, BWT will draft the service agreement. Once the admin charges are received BWT will start work on the subject LC transaction.
5. BWT will immediately request the issuance bank for the required LC once we receive the requested documents, approvals and the issuance fee charges.
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<strong>Letter</strong> <strong>of</strong> <strong>Credit</strong> <strong>Procedure</strong><br />
The following steps are to avail LC from BWT:<br />
1. The client needs to submit their LC request along<br />
with their trade deal information like Face Value<br />
and Validity <strong>of</strong> their required LC to Bronze Wing<br />
Trading. Accompanied by a Signed Copy <strong>of</strong> Pro<br />
forma Invoice or SPA <strong>of</strong> their trade deal.<br />
2. As BWT receive the information, we will review it<br />
and inform the client if their LC application will be<br />
approved or rejected.<br />
Avail <strong>Letter</strong> <strong>of</strong> <strong>Credit</strong> Now
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