Import Letters of Credit
Create, amend, manage and track Import Letters of Credit.
Import Letters of Credit are widely used in international trade. TradeBeam offers on-demand software to manage the lifecycle of Import Letters of Credit. The solution allows importers to create Import Letter of Credit applications from purchase orders and then amend the Letters of Credit based on changes to POs. The Letter of Credit application and the Letter of Credit amendment can be sent electronically to the issuing banks, and the respective issuances are updated on the system.
Additionally, TradeBeam offers supply chain finance solutions that can utilize an Import Letter of Credit to obtain discounting for international purchases.
Do business with Import Letters of Credit
Initiate, track, amend and manage Letters of Credit and related transactions.
Overcome the Challenges of Import Letters of Credit
- Minimize staff time spent in creating Letters of Credit applications and amendments
- Use one system to manage Import Letters of Credit from multiple banks
- Reduce errors in Letters of Credit applications and amendments by synchronizing data from POs
- Manage PO changes effectively by amending the associated Letter of Credit
- Reduce fees by consolidating POs into Letter of Credit applications, and PO changes into Letter of Credit amendments
- Avoid courier expenses and delays by sending Letter of Credit applications and amendments electronically
