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Letter Of Credit
Through our
extensive network we are able to arrange letters of credit and
similar financial instruments. Generally, the major institution
providing this facility will be a well known bank with AAA rating.
The actual institution chosen for this will be selected as being the
best one to suit your own needs. Typically, the following will
apply:
The term will
be a minimum of 6 months.
The cost is 18%
and minimum amount is 1 mil US.
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You
need to submit a letter of intent seeking our
services to arrange the Letter of Credit for you.
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Provide
proof of funds for the 18%
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Copy of
the applicants passport
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Two or
three page executive summary of the project for
which you are seeking the Letter of Credit for.
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Commission pay-order for paying 1% for us as our
service charge payable after receipt of the
instrument.
Upon
receipt of the above, we shall send to you application
form to fill out and send back.
Once the
application is received, submissions will be made to the
bank and the draft of the Letter of Credit will be sent
for your review and acceptance, after signing off on it,
you then effect payment.
After
payment is received, it takes 5 banking days for the
instrument to be issued and sent via SWIFT MT760 direct
to your designated bank details provided on the
application form.
After you
have received the SWIFT MT760, copy of which will be
sent to you, you then pay us the 1%.
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