Documentary Letter of Credit
Documentary Letter of Credit
GetFunded - Open Development is one of the most trusted trade finance solution providers in the UK who is here to help you keep your supply chain moving smoothly in order to lead you to business growth.
Ensure transaction safety in your business deals. Choose a Documentary Letter of Credit- a guarantee for the safe execution of a contract or payment obligation with a reputable trade finance solution provider in the UK like GetFunded - Open Development. With years of experience under our belt, we ensure you fast and effective service surpassing your expectations.
What is a Documentary Letter of Credit?
Documentary Letter of Credit is an assurance provided by a bank or trade finance institutions to ensure the importer/buyer, that they receive the goods under the terms and conditions as initially set out and payment to the supplier as pre-agreed. It is ideal for meeting short-term needs and for new business relationships. The bank or the financial institution will act as an intermediator ensuring both parties terms specified in the DLC are completely fulfilled to receive the payment. In an event of when the buyer is unable to pay after the terms specified in the DLC are fulfilled, seller/exporter can make a compliant document presentation demanding payment, to which the bank or financial institution is
obligated to pay.
Offering you a reliable documentary letter of credit service in Uk for businesses of all sizes and industries, we ensure you an effective and fast service. Get in touch with us today for more information.