Samuel Shapiro and Company, Inc. has a trained staff
with many years of Letter of Credit experience. We will ensure that
your Letter of Credit is complete and accurate; we will also make
certain that the Uniform Customs and Practice for Documentary Credit
(UCP) International Chamber of Commerce Publication No. 500 is
strictly followed.
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Samuel Shapiro and Company, Inc. assists in understanding and
interpreting the terminologies of the letter of credit.
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We help the exporter step-by-step in formalizing the draft L/C so
they can advise the importer of their terms prior to the
establishment of the letter of credit.
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We review the letter of credit prior to shipment and advise the
exporter if we will not be able to comply with its terms (for
example, as a result of shipment date, expiration date, or bill of
lading issues). This way, the exporter will be able to request an
amendment from the importer/buyer to make necessary modifications to
the letter of credit.
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We prepare the required documents to satisfy the requirements of the
letter of credit such as the commercial invoice, packing list,
Certificate of Origin, insurance certificate, sight/acceptance
draft, legalized documents, and all other documents to comply with
the letter of credit.
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We provide instructions to the steamship line to ensure that the
bill of lading that is issued is in compliance with the letter of
credit.
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We prepare the documents for the bank expeditiously in order to
ensure that the exporter receives payment as quickly as possible.
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We communicate with the bank on behalf of the shipper with regard to
documentation discrepancies, and make any necessary corrections to
comply with the letter of credit. If a discrepancy cannot be
corrected, we advise the exporter immediately.
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We monitor and track the documents with the negotiating bank until
our customer is paid.
With Shapiro’s combined extensive experience in handling Letter
of Credit transactions and its strong partnerships with many
international banks, customers enjoy swift payment while remaining
fully informed of the status of documents until they are paid.
