Ancillary Banking Service

Our product range contains a wide range of Letter Of Credit Services

Letter Of Credit Services

With the bunch of our Letter of Credit Services, we aid the flourishing business entities by making the payment processes, especially in the international transactions, risk free and quick. We go the extra mile to surpass the client’s expectations by delivering the well-deserved and utmost-quality service whether it’s importing the goods from overseas or a need for providing financial security locally, within short time. Our expert team makes the overall process secure and easy, by handling all the formalities & paper work in most efficient manner.

About Letter of Credit :

Letter of Credit (L/C or LC) is a document issued to provide an irrevocable payment undertaking to a beneficiary against complying documents as stated in the credit. It is often referred to as a documentary credit, abbreviated as DC or D/C, Documentary Letter of Credit, or simply as credit.

Once the beneficiary or a presenting bank acting on its behalf, makes a presentation to the issuing bank or confirming bank, if any, within the expiry date of the LC, comprising documents complying with the terms and conditions of the LC, the applicable UCP and international standard banking practice, the issuing bank or confirming bank, if any, is obliged to honor irrespective of any instructions from the applicant to the contrary.

In other words, the obligation to honor (payment) is shifted from the applicant to the issuing bank or confirming bank. Non-banks can also issue Letters of Credit however parties must balance potential risks.

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