Letter of Credit
Letter of Credit (USANCE and AT SIGHT, Back to Back LC)
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.
Have a peace of mind in your next transaction without worrying about the risk factor involved, with a Letter of Credit. Offering you timely letter of credit services helping you gain control over transactions we are here to consult you and guide you throughout the process.
What is a Letter of Credit?
Letter of Credit is a document issued by a bank or a financial institution ensuring the payment to the recipient regardless of the debtor’s financial circumstances. The document binds the financial institution to fulfil the responsibilities of the debtor in a situation where the debtor fails to pay the recipient. This is mostly used between exporters and importers to provide an assurance for payments for the products or goods provided.
The document will be issued by the bank of the importer/buyer to the bank of the exporter/ seller guarantying to pay the agreed amount of money to the other party as specified in the letter of credit.
Letter of Credit services with GetFunded - Open Development
Get in touch with us for your letter of credit requirements. Being an expert trade finance company in the UK we will provide you with the right advice ensuring you a proven solution taking the hassle out of the process.