Exporters can now take advantage of a new trade facilitation service to expedite letter of credit of transactions, thanks to an innovative partnership between the United States Council for International Business (USCIB) and Quality Letters of Credit.
USCIB has teamed up with QLC to offer the US trading community complete letter of credit management services, focused on expediting payments for exporters, by offering QLC’s LC document management services.
This service provides in-depth consultation and review of issued letters of credit, compliant document preparation and payment collection. QLC’s LC document management services can reduce exporters “letter of credit payment collection to a matter of days, thereby increasing cashflow and working capital.
QLC claims its offerings include:
– LC credit review: Each LC goes through a rigorous review process to ensure that payments are not delayed. Experienced staff will advise exporters of potential problems before they occur.
– Expert document preparation: QLC’s nationwide staff of documentation specialists creates flawless document sets in a fraction of the time spent by in-house resources or freight forwarders and at considerably less expense.
– In-house presentation option: Ability to present documents for examination and claim to an in-house bank saves on courier time and expense, while getting exporters paid faster.
– Live web reporting: Web reports provide the tools needed to help organise LC activity, create customised reports or import information directly into a spreadsheet.
– Cost estimate analysis: QLC provides a detailed estimate of the total expenses associated with LC document preparation, including banking fees.