For any inquiries or general queries please review our FAQ center and if it is not satisfactory feel free to contact one of our executives by email or phone.
I OPENED A LETTER OF CREDIT TO MY SUPPLIER, BUT HE DID NOT SHIP THE GOODS. WILL YOU REFUND MY FEE?
Once the letter of credit is opened your fee cannot be refunded. We recommend to all of our clients that they need to assure themselves of their suppliers’ ability to perform before opening any banking instruments to them.
FOR WHAT TYPE OF GOODS DO YOU OPEN LETTER OF CREDIT?
We can open letters of credit for any type of goods provided they fall into our ethical and legal criteria. That said, we will not get involved in transactions involving weaponry or ammunition under any circumstances.
WHAT IS THE MAXIMUM SIZE LETTER OF CREDIT THAT YOU OPEN?
We are able to open letters of credit of almost any size. We consider the complexity of the transaction; the goods that are being trades; and, other factors having to do with the parties to the transactions and where they take place.
WHAT IS THE CHARGE FOR OPENING A LETTER OF CREDIT?
The letter of credit charge depends on a number of factors. Our agents can provide you with an up to date Tariff schedule.
WHAT TYPE OF COLLATERAL DO YOU REQUIRE TO OPEN A LETTER OF CREDIT?
In most cases we do not require a specific collateral deposit to open a letter of credit. We offer transactional based finance. When a client wishes to open a letter of credit, he presents us with the details of his transaction so that we can make a decision about the transaction on its merit. The final decision by our company to enter into a transaction is made according to a set of criteria.
CAN I CANCEL MY LETTER OF CREDIT AFTER IT HAS BEEN OPENED?
All of the instruments that we issue are irrevocable and cannot be canceled except by the beneficiary.
WHY DO I NEED TO PAY YOUR FEE BEFORE YOU OPEN THE LETTER OF CREDIT? CAN'T YOU TAKE YOUR FEE OUT OF THE PROFITS OF OUR TRANSACTION?
We do not participate in the transactions of our clients as a party to the transaction other than a provider of certain financing. Therefore, we do not participate in the profits of our client’s transactions. Our fees are the same regardless of the profit margin in the transaction.
I GENERALLY OPEN LETTERS OF CREDIT THROUGH MY BANK. HOW ARE YOUR LETTERS OF CREDIT DIFFERENT?
The letters of credit that we open are opened using our bank accounts at prime banking institutions. When you open the letter of credit through your bank, you use your credit line. When you open through us, you use our credit lines.