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What is the cost of receiving a letter of credit or bank guarantee?
Zenith, LLC provides the most competitive rates in the market. These rates differ depending on the financial instrument used, the time frame and the issuing bank. We can provide the best instrument at the lowest cost to you.
When a bank issues an LC on behalf of a customer, it authorizes another bank known as the advising bank to pay a specified amount of money to a named beneficiary. The beneficiary usually provides goods or services to the issuing bank’s customer. This facilitates transactions between parties that are often not well-known to one another and in different countries.
Frequently Asked Questions
How can I make a comment about Zenith, LLC service?
We always welcome your feedback about our service – whether you found it friendly and helpful, or whether it fell short of your expectations. Please Contact Us with your comments and we’ll respond as soon as possible.
Do you charge upfront fees for your services?
No! Usually, we do not require collateral and no fees are charged without the proper instrument being issued.
Why should I work with Zenith, LLC?
Zenith, LLC has specialized in brokering letter of credit and payment guarantee for 15 years. All policies brokered by Zenith are backed by top-rated insurance companies.
What assurance can you give to new clients?
We have never failed any transaction after a contract is signed with the investors/providers we recommend. For that reason, no fees are charged without the proper instrument being issued.
What is the Uniform Customs and Practice for DLC?
The Uniform Customs and Practice for Documentary Credits (UCP) is a set of recognized and internationally accepted rules for documentary credits published by the International Chamber of Commerce (ICC) in Paris, France. These rules are used in the international trade community for determining the roles and responsibilities of all parties involved in Letters of Credit, including Standby Letters of Credit, where the Letter of Credit expressly stipulates that it is subject to the UCP.
In what situations would I use a BG/SBLC?
A BG/SBLC provides security to a beneficiary in that issuing bank promises to pay the beneficiary upon presentation of pre-specified documents. The following are some instances where a BG/SBLC are used:
- To enable the buyer to purchase goods without having to make a cash deposit
- To support performance promises being made during the tender process of a contract
- To support contractual obligations
- To support payment obligation