Review of your letter of credit draft

The best time to avoid a discrepancy is before it exists. Many letter of credit problems start in the credit text itself: deadlines that cannot be met, documents the exporter will not be able to obtain, overly detailed descriptions of the goods or contradictory clauses. Once the credit is issued, changing it requires an amendment, with its bank charges, the agreement of all parties and a delay that often coincides with the shipment date.

Reviewing the draft costs little and avoids most of those problems: it lets you ask your customer or your bank for changes while it is still easy to do so.

What we review

• That the terms are workable for the exporter: shipment date, presentation period and expiry.
• The required documents: who issues them, whether they can be obtained in time and whether they need legalisation or consular visa.
• Non-documentary or ambiguous clauses, which UCP 600 requires banks to disregard or which lead to disputes.
• Consistency with the sales contract, the proforma invoice and the agreed Incoterm.
• The place and form of availability of the credit, and whether it should be confirmed.
• Risk points depending on the country of origin or destination.

What you receive

A report, in English or Spanish, with each risk point and proposed alternative wording, ready to send to your customer or your bank before issuance. Each observation states the rule or banking practice it relies on, so you can support the change with arguments.

Who it is for

• Exporters who receive the draft from their customer and want to make sure they can comply with it.
• Importers about to apply for a credit with their bank who want to avoid later amendments.
• Finance departments handling several transactions that need a second expert opinion before committing.

How we work

1. Send your documents through the website or by email, in PDF.
2. Technical review and final expert review: a systematic first review of every document, followed by the review of a Trade Finance specialist who validates each conclusion.
3. Receive the report within 24 business hours, with every point explained and how to resolve it.

Price

• €180 per draft (VAT not included).
• Urgent service: +40 %.
• Second review: if you resend the draft and its annexes corrected within 15 days, the new review costs 50 % of the fee.

Offer: first review free of charge, urgent service included. The best way to get to know us and see how we work.

Turnaround

Delivery within 24 business hours of receiving the draft. Urgent service: 12 business hours.

Confidentiality

Your documents are transmitted and stored encrypted, handled confidentially and deleted 60 days after the case is closed. More information in the Privacy Policy.