Letters of Credit

A letter of credit (LC) is a guarantee from a bank that the seller will receive payment from a buyer. The bank guarantees that the seller will receive a specified amount of money within a specified time. In return for guaranteeing the payment, the bank will require that strict terms are met.

Letters of credit can save you time, reduce risk and accelerate payments. We can assist with checking your documents and will remove the hassle with a full service, leaving you to focus on running your business.

Advantages of using a letter of credit

  • The buyer receives a guarantee that the seller will fulfil their side of the deal and present the necessary proof, whilst the seller will have peace of mind they will get paid in full and on time.

  • This is one of the most secure methods of payment if all the terms and conditions are met.

What do we offer?

The Letters of Credit team will read through the LC, will identify any points that may need changing and will highlight any specific areas of concern and amendments that need to be made before you present the paperwork to the bank. You will receive a full report with their findings.

For more information on our letters of credit service, please email exportbritain@gmchamber.co.uk or call us on 0161 393 4368/55

Would you like your staff be better skilled at completing LoC paperwork?

We also offer accredited Training courses to help equip you with the neccessary skills to export successfully are available throughout the year, including Letters of Credit. Please click here for more information