It can be quite daunting dealing with overseas payments from a customer or supplier you have never met face to face, especially when it makes or breaks a deal. That's why it's essential that you use a professional letter of credit service so that all payments are secure and certain. The costs for this service vary depending on the complexity of the Letter of Credit but the good news is that PSP offer a free letter of credit service if you are shipping your goods with PSP.
Carol heads up the LOC department and has great relationships with the international trade managers at many banks. Having worked for a bank for many years, Carol has vast experience and understand all the idosyncracies that you may come across. Carol and her team thoroughly check all your documentation and make sure they are all presented to the bank correctly and that you get paid, because afterall, that's what it's all about!
The PSP service includes:
- Examining the letter of credit
- Preparing all documents in accordance with the letter of credit
- Presenting all documents to the negotiating bank
- Ensuring the funds are received
- Securing bills of collection
PSP’s service level agreement (SLA) with an international trade bank has resulted in a reduction of document transit time and cost.
For more information please contact PSP’s letter of credit specialist Carol on 01489 565577 or email us.