Kingrise Finance Limited are providers of Letter of Credit (LC, DLC or Usance LC)
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as an underwriter, where it assumes the counterparty risk of the buyer paying the seller for goods
The letter of credit has been used in Europe since ancient times.Letters of credit were traditionally governed by internationally recognized rules and procedures rather than by national law. The International Chamber of Commerce oversaw the preparation of the first Uniform Customs and Practice for Documentary Credits (UCP) in 1933, creating a voluntary framework for commercial banks to apply to transactions worldwide.
In the late 19th century and early 20th century, travelers commonly carried a circular letter of credit issued by a relationship bank, which allowed the beneficiary to withdraw cash from other banks along their journey. This type of letter of credit was eventually replaced by traveler’s checks, credit cards and automated teller machines.
Although letters of credit first existed only as paper documents, they were regularly issued by telegraph in the late 19th century, and by telex in the latter half of the 20th century.Beginning in 1973 with the creation of SWIFT, banks began to migrate to electronic data interchange as a means of controlling costs, and in 1983 the UCP was amended to allow “teletransmission” of letters of credit. By the 21st century, the vast majority of LCs were issued in electronic form and entirely “paperless” LCs were becoming more common.
Types of Letters of Credit
Commercial Letter of Credit
This is a direct payment method in which the issuing bank makes the payments to the beneficiary. In contrast, a standby letter of credit is a secondary payment method in which the bank pays the beneficiary only when the holder cannot.
Revolving Letter of Credit
This kind of letter allows a customer to make any number of draws within a certain limit during a specific time period.
Traveler’s Letter of Credit
For those going abroad, this letter will guarantee that issuing banks will honor drafts made at certain foreign banks.
Confirmed Letter of Credit
A confirmed letter of credit involves a bank other than the issuing bank guaranteeing the letter of credit. The second bank is the confirming bank, typically the seller’s bank. The confirming bank ensures payment under the letter of credit if the holder and the issuing bank default. The issuing bank in international transactions typically requests this arrangement.
An Example of a Letter of Credit
Citibank offers letters of credit for buyers in Latin America, Africa, Eastern Europe, Asia, and the Middle East who may have difficulty obtaining international credit on their own. Citibank’s letters of credit help exporters minimize the importer’s country risk and the issuing bank’s commercial credit risk.
Letters of credit are typically provided within two business days, guaranteeing payment by the confirming Citibank branch. This benefit is especially valuable when a client is located in a potentially unstable economic environment.
We also provide Business Loans, SME Loans, International Project Financing, recourse Loans, Non Recourse Loans, Letter of Credit, Standby Letter of Credit, Bank Guarantee, Performance Guarantee Bond, Tender Bond Guarantee, Advance Payment Guarantee, Bank Comfort Letter etc…
These bank instruments are issued from prime banks such as HSBC Hong Kong, Barclays Bank London, Standard Chattered Bank or any AAA rated bank of your choice.
Below is our very simple terms and procedure for Letters of Credit (LC, DLC or Usance LC)
Description of The Instrument:
1. Type of Instrument: Letter of Credit (LC, DLC or Usance LC)
2. Amount or Face Value:……
3. Issuing Bank: Barclays Bank London or HSBC Hong Kong or any Top 25 WEB..
4. Age / Term: 90 Days, 180 days etc
5. Shipment: CIF? FOB??
6. Delivery: Bank-To- Bank Swift Delivery
7. Partial shipments: Allowed or Not allowed???
8. Transshipment: Allowed or Not allowed???
9. L/C Issuance Fee: This is the amount to open the letter of credit.’
10. Handling Fee: For sending swift messages, holding documents.
The Process & How to Obtain a Letter of Credit (LC, usance lc, dlc)
One of the easiest and best ways to obtain a Letter of Credit (LC, usance lc, dlc) Is through Kingrise Finance Limited.
Kingrise Finance Limited was incorporated in Hong Kong on 22-SEP-1999 as a Government Licensed Money Lender with CR No.: 0689078. We are leading providers of Business Loan, SME Loans, Project Financing, Recourse Loan, Non Recourse Loans and Bank Financial Instruments such as Standby Letter of Credit Funding, Bank Guarantee, Performance Guarantee Bond, Tender Bond Guarantee, Advance Payment Guarantee, Bank Comfort Letter, BG/CD/BD/BCL/DLC/LOC/SLOC/SBLC etc.
Our bank instruments, bg/sblc issuance and monetization process is simple, fast and efficient and we offer the best rates as well as the best LTV in the industry.
Our bank instruments, bg and sblc/sloc are issued from prime banks such as Barclays Bank London, Standard Chattered Bank, HSBC Hong Kong or any rated AAA bank of your choice. All our financial instruments are Cash-Backed and can be used as collateral to secure funding for projects, Discounting, Monetization and Private Placement Programs (PPP).
Why Choose Us?
- Fast Turnaround
- Best Top Rated Banks
- Competitive Low rates
- No prepayment penalty
- 2 Days for Commitment
- Extremely Satisfied Clients
- WE KEEP OUR PROMISE
- 20 Years of Experience & Trust
- No Personal Collateral Required
- Solutions for every customer & every industry.
- Loan amounts from $1 million to no maximum.
- Fast Approvals & Fast Funding- Closing in as little as 5 days
BROKERS WANTED: We welcome brokers who are direct to the client. New brokers are welcomed and are rewarded with 2% commission on every deal they bring to us, but you must be direct to the client and not in broker chains. We do not get involved with daisy chain of brokers, neither do we tolerate scammers, jokers and time wasters.
We would welcome the chance to earn your trust and deliver you the best service in the industry. If you are interested to work with us kindly contact us immediately using the contact form or via Email: firstname.lastname@example.org