We need the following documents/ information for finalizing the LC draft. Please, not that MT799/BG has different procedure.
1. Filled application form
2. Proforma Invoice for DLC
3. Trade license of your company
4. Share Holders List
5. Passport copy of main applicant
Step-wise After acquiring all the above documents / information, we will select the issuing bank / financial institution and finalize the draft for your review. Upon receiving the draft copy of the instrument, you must thoroughly review the draft for any corrections, additions or removal of information.
Should there be any amendments, we can amend the draft accordingly to match your preferences. Once the draft is approved, you will need to send us a copy of the draft with sign and stamp on it as your approval.
We will raise the invoice for the agreed charges (charges include margin money, interest, processing fee and professional charges) and you will make the remittance against the invoice. Only after we receive the payment
for the raised invoice, the Issuing Bank / Financial Institution will issue and relay the instrument through swift within 48-96 hours after remittance. Simultaneously we will send you the issued copy through email for your reference and record.What if I have already opened an Letters of Credit with my bank before; what is the difference?
Working with us as opposed to your bank is significantly better for two (2) reasons:
1.Business- Active utilizes its own lines when opening LCs on its client's behalf. Clients can keep their existing credit lines to use at their discretion.
2. Business- Active maintains relationships with many banks and financiers. ITF's clients can take advantage of this network and optimize their deals; they are not stuck with one bank who might not always provide viable solution to the client's needs.
k and optimize their deals.