Letter of Credit Service

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 we can help
We are a 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 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 – Documents against acceptance, in simple terms it is where payment is due at a future date.

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

All 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
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 find out more about our prices please contact the team using the details below.

  • How to get started

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

    01275 370 708

  • I just wanted to say a big thank you for the effort you’ve made this week to get our Letter of Credit documents to the bank on time. I know you’ve stayed late to complete things for us and we appreciate this and the service we’ve received from the Business West team is exceptional. It’s a pleasure working with such a professional team that are always so extremely helpful, knowledgeable and pleasant.
    Tracey Atkinson
    Cygnet Texkimp
  • I would be happy to recommend Business West to any new customers. I have dealt with your company for the last few months and I have been extremely pleased with your reliability and prompt response to any problems.
    Monika Szambelan
    Oxalis Group Ltd
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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.