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WHY SENDING CUSTOMERS INSTRUCTIONS FOR OPENING A LETTER OF CREDIT ?

April 26, 2017credit customers export instructions international trade letter letter of credit opening standby

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WHY SENDING CUSTOMERS INSTRUCTIONS FOR OPENING A LETTER OF CREDIT ?

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Over 65% of the letters of credit are subject to reserves from banks, due to discrepancies. In order to avoid this, it is strongly recommended to send instructions for opening letter of credit with every pro forma invoice or contract, in order to facilitate the opening of the documentary credit and avoid any later expensive modifications. LEAD-eXPORT may help you in setting up such instructions.