Letter of Credit Service

***We are experiencing unusually high volumes of applications at the moment. To help us to continue to offer the same high level of service, please send your Letters of Credit to us as soon as they are received. We will get back to you as soon as possible, but please be aware there may be a longer wait than usual.***

A Letter of Credit is an official document that is typically issued by the importer’s bank but is only secure if you, as the exporter, meet all of its strict conditions and deadlines. Worryingly, over 75% of UK exporters who do their own Letter of Credit paperwork experience problems getting paid due to incorrect paperwork.

How can we help?
We are leaders in export documentation preparation and can take the hassle out of Letters of Credit for your business. Our team of experienced staff will use their strong relationships with all the major global banks to ensure that you receive payment on time for your exports. We deliver a fully managed, comprehensive service that conforms to Letter of Credit requirements with a view to securing payment for your goods.

Export Collection

What is Export Collection?
Export Collection is a payment method frequently used in international trade. This type of transaction is also known as Cash against Documents (CAD), D/P for payments at sight, or D/A for Documents against acceptance. In simple terms, it is where payment is due at a future date.

How can we help?
We can assist by either creating certain documentation for you, the exporter, or you can use your own documentation, also obtaining any 3rd party documentation, followed by presenting documentation to your bank on your behalf.

Open Account

What is Open Account?
An open account transaction is a sale where the goods are shipped and delivered prior to the due date for payment.

How can we help?
We can assist by either creating certain documentation for you, the exporter, or you can use your own documentation, obtaining any 3rd party documentation, followed by the despatch of documents to your client.

All the above services include:

  • Advice on Letter of Credit terms.
  • Preparation of all shipment documents.
  • Compliance checks for third-party documents.
  • Liaison with freight forwarders, shipping companies, inspection agents etc.
  • Advice on Incoterms® 2020.
  • Arrangement of cargo insurance.

Services specific to Letters of Credit:

  • Presentation of all documents to the bank within agreed deadlines.

Work with us and take the risk out of international trade.

Costs vary depending on the value (£ equivalent) of the export on your Letter of Credit. Costs for open account and Export Collection are not value dependant. To see how we calculate the price of your Letter of Credit, please click here (PDF). To find out more about our prices please contact the team using the details below.

  • Apply for a Letter of Credit

    Simply complete the enquiry form below and one of our advisers will be in touch to discuss your specific requirements.

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  • Really pleased with the service that has been provided to us, you've taken away all the daunting worry of what can be a complicated process, gives me and my customers confidence for easy transactions. Your attention to detail and all round service is very much appreciated.
    Gary Hopwood
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    Want to do your export documents online?

    You can easily create all your export documents, copy and edit previous shipments, apply for certification and get customs clearance for your shipments on Acorn International Trade Services.