Letters of Credit

Wallis offers a specialist Letter of Credit service, which can operate as a stand alone or as an integral part of our full freight management solution.

 

We have an enviable record in working through Letter of Credit export documentation.

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Using a Letter of Credit can secure payment of your overseas sales contract. It is one of the most secure methods of international payment. With over 35 years’ experience in export financing and Letters of Credit, the Wallis team can complete all documentation on your behalf – commercial invoices, packing list, bills of exchange – as well as the shipping documentation, all with perfect precision.

 

Our own in-house software solution, Exportease, ensures all documents conform to Letter of Credit requirements so you get paid for your exports.

 

Whilst you concentrate on your core business requirements, let us handle your documentation. Wallis is often recommended to exporters and importers by major UK banks – and by our satisfied clients.

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LETTER OF CREDIT QUICK CHECK LIST

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• Make sure you ask for help from us early (pre-shipment)

• Your client and their own bank will get finance in place and open credit

• Their bank will then advise UK bank, and this bank will make contact with yourself, or us as your shipping agent

• Make sure terms in credit agree with your sales contract

• Check with us the planned vessel/sailing date/ETA will fit in line with the requirements of the Letter of Credit

• Get your commercial documents drawn up by us in accordance with credit agreement

 

Letter of Credits are scrutinised for accuracy by both receiving banks. You have to be meticulous – typos and spelling mistakes will be rejected. This is where our experienced Letter of Credit staff who have been trained in these and export finance for years can help. Get specialist advice from our expert team here at Wallis or from your bank.

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More information regarding the rules of Letter of Credit can be accessed from The International Chambers of Commerce. For a copy of the new Uniform Customs & Practice for Documentary Credits (UCP600 1/7/2007) is available from the ICC UK here: publications@iccorg.co.uk

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LETTER OF CREDIT SERVICE PROVIDER

 

Wallis are an approved service provider of Letter of Credit services for Suffolk Chambers of Commerce, whereby Chamber members benefit from discounted rates for this service. Ask our letters of credit team for more information at info@wssl.co.uk

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