Clean Credit Letter

The Clean Credit Letter

Credits have maintained their role as an instrument for financing foreign trade. Law and practice of documentary credit: Peter Ellinger: Hart Verlag Credits have maintained their function as an instrument for external commercial finance. It is essential for attorneys who advise businessmen and women and bank customers, as well as for the financial and commercial sectors, to understand the laws and practices. L/C operations are inherently global, and most countries have adopted the Uniform Customs and Practices ("UCP"), initially published by the ICC in 1933 and periodically up-dated.

Today, the UCP is a set of international recognized codes of conduct for letter of credit business. It will be an indispensable resource for business attorneys in all important European, American and Asian markets. B. Letters of credit with a "red clause" B. When will a binding contract be concluded?

B. Can a bank claim a refund? Who is a nominee bank? Offsetting, time limits, injunctions, etc.

Guaranties and warranties

Regardless of whether your goal is to rationalise payments, safeguard your operation or build seamless relationships with your suppliers, we can help you to act across frontiers. The right kind of finance, with the right service providers, will play an important role for your company's global commercial performance. Practically, retail meetings include a wide range of different types of activity such as purchasing, sales, material procurement, production and sales.

Working with importer and exporter partners, our multinational team provides a suite of award-winning trading financing solutions that ensure you maximize the value of your trading globally. In order to help your company avoid losses in insecure markets, we can help you arranging the most commonly used types of warranties and sureties.

Loans and warranties help your capacity to make payments or pay commitments under a policy. Stand by letters of credit, which have a similar purpose to sureties and guaranties, are also available. Because every single commerce activity is different, we work with you to centralize your trading operations and develop a range of warranties tailored to your core businesses.

Letters of credit enable importer and exporter to treat each other confidentially, knowing that payments will be made if the transactions are conducted in accordance with the conditions of the letter of credit. Letters of credit offer even greater cover by assuming the obligation of the issuer or of both institutions in the event of affirmation, thus excluding sovereign, counterparty and banking risks for you.

If you are an exporter, you can ask your foreign client to open a letter of credit that ensures your payments, provided you conclude the deal and provide the necessary documentation. Or you can ask us to verify the credit, i.e. we will also include our bank transfer bond. Your foreign distributor, as an importer, may demand that you open an imported letter of credit.

This can be arranged and we can ensure that the foreign suppliers are paid, provided that the right documentation is presented. The use of documented cash collections for imports and exports is a simple and cost-effective way of making cross-border commercial transactions. If, as an exporter, you feel at ease with your foreign customers without having to provide them with a guaranteed banking relationship, you can still profit from an enhanced degree of safety.

This is possible by using document collection together with drafts, where the goods are only cleared against the foreign customer's receipt or receipt in order to settle the drafts at a later date. If you are an importer, your foreign supplier can ask you to make or receive a bill of exchange on a similar terms, and we can inform you how best to safeguard your business.

We have put important finance functionalities of global trading on-line. With our on-line trading solutions, you have a versatile way to access and control the financials of your global trading, quickly, securely and in real time to initiate and track trading activity while creating in-depth, customizable reports.

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