Export letters of credit evaluations, and follow-up assistance
SMS Consulting Group enables you to successfully utilize Export Letters of Credit as an effective financial tool to increase international sales by securing payment from the bank, not the foreign buyer. This will greatly reduce the risk of nonpayment to the exporter.
Frequently misunderstood, the Letter of Credit process is often regarded as a tool of last resort by many companies. They don’t have trained personnel to deal with the complex document requirements of an export letter of credit.
As a result valuable sales prospects are turned away. Solve this problem by training your designated employee(s).
Reduce bank discrepancies due to Documentation errors. Precise and detailed documents are required for the bank presentation. The smallest discrepancy can delay payment. It takes years of experience to coordinate all the parties involved in a Letter of Credit transaction including the freight forwarder, insurance companies, Chambers of Commerce, legalization services, inspection companies, bank (s) and the exporter. These parties often have different priorities and fail to give the exporter the help it needs. Let us train your staff to effectively deal with these issues.
Our Letter of Credit services:
- Review and evaluation of your export Letter of Credit.
- Train your staff to prepare L/C document presentations and effectively deal with L/C related problems.
- Facilitate and monitor communications between your designated employees and the bank throughout the process.