Letter of Credit

Chamber Letter of Credit Service

Provided by our appointed partner Synergy in Trade.

Letters of Credit are the most secure means of getting paid in international trade transactions and are often very complex. A letter of credit guarantees payment for goods shipped provided you meet all its conditions.

Up to 65% of documents are rejected on first presentations to banks. Success is dependent on your ability to present accurate shipping documents to the bank which strictly meets the terms and conditions of the letter of credit. Get the documents wrong and you face delays in payment or in some cases no payment. Can you afford to take that risk?

Using the new Chamber Letter of Credit service with our appointed partner Synergy in Trade will take away the worry from you. You will be able to access part or all of the service as suitable to your business.

With years of experience in international banking, specialising in Letters of Credit Synergy in Trade will provide:
As a chamber member you will benefit from an excellent service at a 10% discount off the marked price. There will be a choice of four service levels available.

• A format to ensure the credit is workable.
• Advise you of any amendments needed to comply.
• Liaise with your freight company to obtain drafts of shipping documents to ensure compliance.
• Liaise with you, where appropriate to ensure shipment of the goods is made within time limits.
• Preparation of all shipping documents.
• Presentation of all documents to the bank on your behalf.

Service 1. Letter of Credit checking service

Service 2. Document checking Service

Service 3. Document checking including booking of freight

Service 4. Handling & Processing the Letter of Credit including all the shipping documents

For more information call the International Trade team on 01604 790921 or email us at exportdocs@chambermk.co.uk