Upon your written authority to do so, we provide a full bureau service as an alternative to in-house management of LC transactions. In other words, we act as your agent in the management of your LC business, but without the associated costs and risks. Our service covers every aspect of the LC transaction, from instructions and negotiations for its issue, to receipt of payment and everything in-between. You have the option of giving payment details in advance, or upon imminent receipt of payment. Our Letter of Credit Expert is based in Dublin, which facilitates presentation of documents against LC’s to most Irish banks, and is the most convenient location for legalisation of documents, courier services, transport links etc. However, this service covers exporters in all parts of Ireland.
This service is ideal for SME’s and firms which do not have regular LC business.
Partial Outsourcing of Letters of Credit for Exporters
Some companies may have sufficient business to warrant employing staff to manage their LC business. That may be the best option for them, but situations may arise such as unexpected peaks in export business, maternity or sick leave, and holiday cover where an outsourcing alternative can plug such gaps.
Sometimes an exceptionally complex, unusual or high value LC may mean a “make or break” situation faces the company. This is when it makes sense to bring in an impartial expert to either give advice or permit us to manage any or all aspects of the LC.
Our Letter of Credit Expert has many years experience training people in various countries how best to handle LC’s. This includes lecturing to various universities, exporters, importers, bankers, freight forwarders etc. His experience also includes setting and marking exams for the Institute of International Trade of Ireland.
Our LC consultancy service is completely confidential. We can help you assess whether or not you need the security of LC on a customer or country basis. If you have difficulties negotiating with banks over LC interpretations etc, we can offer unrivalled expertise as our LC expert has been a member of the ICC Banking Commission for many years. We also have exclusive experience in alternative dispute resolution for LC’s.
Importers who have decided to deal on a LC basis may need our advice before instructing their banks on details of documentation required.