Letter of Credit | Luminor

Letter of Credit

Letter of Credit

Use a letter of credit for your payments if you do not know the other party well and want to be sure that goods are delivered or paid for. We will issue a letter of credit at the request of the buyer and will as-sume responsibility for making payment only when the required goods’ documents are received.

Why is it worth to use letter of credit?

  • You will reduce the risk of your business transactions and more of them will become possible
  • You, as a buyer, will be sure that the payment is carried out only after the documents, confirming the shipment of goods, are provided to the bank
  • You, as a seller, will be safe that payment for the shipped goods is carried out on time
  • Payments and deliveries of goods are duly planned. The letter of credit can be available by deferred payment
  • International rules are applied

How to start using it, when letter of credit is initiated by the buyer

  1. Agree with your business partner. Agree on the conditions of cooperation with the seller.

  2. Contact us. Issuing a letter of credit is quick and simple.

  3. We send the letter of credit to partner’s bank. We will send the issued letter of credit to your partner’s bank, which will inform their client about it.

  4. The seller ships the goods. Your business partner will ship the goods and will provide the agreed documents on goods to their bank.

  5. We receive documents. Your business partner’s bank will send the documents to us.

  6. We carry out payment for the goods. We transfer the payment to the seller and goods are delivered to you.

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Reduced risk of your trade business transactions

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