Summary of procedures

What information do you need to get started?

1. Who is the applicant?

This is the company that has asked us to open the letter of credit. The applicant is our client, and our standard agreements are with the applicant.

2. Who is the beneficiary?

This is the company receiving the letter of credit. The applicant asks us to open a letter of credit to the beneficiary.

3.  The underlying transaction?

This is the transaction that exists between the applicant and the beneficiary. It is the reason for opening the Letter of Credit or Bank Guarantee.

The underlying transaction can be the purchase and sale of goods, services, real estate, etc., depending on the type of instrument requested.

Start working with us

Once you have identified the three parts of the transaction, you are ready to start working with us.
Open your account and complete your application form.

Summary of the procedure

We will then provide you with a draft of the letter of credit (financial instrument)for the buyers review with the beneficiary. Attached to the draft will be an invoice for our charges. When the review process of the letter of credit draft is completed by you (or the buyer and seller), it will be your job to notify us. We will then be ready to open the instrument and it is time to pay our fees.

We always receive our fees by wire transfer before issuance of the instrument. Once we have received our fees and all of the completed relevant documentation that will be provided to by us for the transaction, it may take up to 3 days for the instrument to be issued, and for us to send you a copy of the issuance.
We need you to have total clarity. Please ask any questions that you may have.