Business Idea
Many importers and exporters involved with international trade find the concept concerning Letters of Credit (L/C or LC) or Documentory Credits (DC), somewhat confusing. A l/c is primarily intended to offer security to both buyer (importer) and seller (exporter). But a l/c may offer much more, i.e. the possibility to obtain funding for purchase of rawmaterials or part deliveries from subcontractors, form a sound base for the trade concerned and much more.
The l/c departments of banks are often very professional on banktechnical details, but often fall short concerning possibilities in offering good commercial solutions.
GM Letter of Credit Consultant offers assistance on a general basis within this field. A letter of credit constitutes an element of payment combined with integrated security – and if utilised correctly, the l/c is to the advantage of both seller and buyer. |
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