Your Letter of Credit Specialists - Park International

Never Fear Not Getting Paid Again

With leaner staffs, companies must accomplish more today than ever before. In areas where they lack expertise, companies are increasingly using outsourcing as a tool to both increase their growth and boost efficiencies of their staff.

With regard to Letter of Credit presentations, companies have three basic choices with regard to documentation preparation:  do themselves; have their freight forwarder handle; or use an independent third party letter of credit document preparation firm.

Do you really have the time, resources and expertise to accurately prepare the Letter of Credit presentation yourself?  Unless you can afford to hire a Letter of Credit expert, preparing Letter of Credit presentations yourself can unnecessarily increase risk and expense to your firm.  Document presentations that are not submitted error-free and without discrepancy in every aspect will be rejected by the bank.  When this happens, the guarantee of payment goes away and you may be looking at weeks and even months added to the payment cycle, not to mention the increased banking fees.  Are you willing to risk not getting paid on your Letter of Credit?

Freight forwarders play an essential role in international trade, but their expertise is in moving goods, not in preparing Letters of Credit.  They will do it as a service to their customers, but their focus is not on providing discrepancy-free documents and helping speed payment for the goods, it’s on moving the goods.

Using a third party document prep company like Park International is therefore the right choice for most firms.  Our service includes:

	Pre-review of your Letter of Credit and advice on any potential issues that helps you avoid problems before you ship thereby facilitating Faster Payments.
	Expert preparation of all documents, including any certificates required, giving you Peace of Mind in knowing that everything is being handled.
	Working with the bank directly on any questions they may have on the presentation.
	Follow-up and support as needed on any issues that may arise.