Export Letters of Credit
When a Bank receives a Letter of Credit* to be confirmed or advised (referred to as an Export Letter of Credit), it first verifies the authenticity of the Letter of Credit, then notifies the exporter that a Letter of Credit has been issued in the exporter’s favor. The Bank notifies its exporting client the same day as the Letter of Credit is received. A copy of the Letter of Credit is faxed, mailed, or can be picked up, depending on the wishes of the exporter.
Before shipping the merchandise, the exporter reviews the Letter of Credit to make sure that it conforms to all the terms of the sale and that all requirements can be met. If the conditions cannot be met, the exporter must ask the importer to have its bank issue an amendment prior to shipment.
All Banks handles hundreds of Export Letters of Credit a year. Our services include:
- Same-day notification.
- Competitive advisement and negotiated rates.
- Confirmations at competitive rates.
- Assistance with technical features of the Letter of Credit.