Letter of Credit Procedure
- Buyer submits requirement in terms of pro-forma invoice or buy and sell agreement of their trade deal to Exim Credit.
- Exim Credit carries due diligence of their commercial transaction between buyer & seller and will inform the concerned parties about the approval or rejection of their LC application.
- Once the LC application is approved then the buyer will provide certain documents and pay the LC issuance fee charges.
- Exim Credit will immediately Issue/Swift the required LC or DLC on behalf of buyer & in favor of their supplier to conclude their trade deal.
- All Swift Issued/Transmited are full Recorded By SWIFT Alliance.
Letter of Credit Information
The beneficiary of Letter of Credit may also obtain from their bank a credit line or packing credit to mobilize their export and their bank will receive the advance funding from the proceeds of Letter of Credit once they negotiate it.
Exim Credit L.L.C provides Irrevocable, Transferable Letter of Credit (MT-700) at Sight for importers who do not have enough cash flow or bank facilities to run their business.