Overcome the Challenges of Export Letters of Credit
CDC TradeBeam offers a managed service for Export Letter of Credit document preparation, submission and tracking.
Export Letters of Credit provide a valuable way to reduce risk, but they have strict and complex document requirements and are highly susceptible to errors. An estimated 70% of all Letters of Credit submitted to banks for payment are initially rejected due to incorrectly issued documentation. This rejection can lead to payment delays, additional fees, and even nonpayment of the drawing.
- Minimize staff time spent meeting strict and complex documentary requirements
- Reduce high error rates due to multiple parties needing to produce documentation
- Reduce fees for issuing and confirming Letters of Credit
- Avoid courier expenses and delays in receiving Letters of Credit from advising banks
CDC TradeBeam processes your required letter of credit documentation after your financial institution has issued the letter of credit.