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This L/C covers the import of goods or services and the bank that opens this for
their customers is known as opening bank; Import L/C guarantees import of
acceptability and smoothness of payment and better scrutiny of import laws and
better handling of documents.
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These services are available only to the customers who have good standing with
the bank and who have all the legal formalities completed satisfactorily.
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We handle all the functions right from the beginning after the formality of account opening and signing the contract has been
completed and all the agreements have been signed.
We help the applicant to choose the advising or confirming bank in a foreign
country.
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We scrutinize the terms and condition of the L/C to make sure
they are not damaging to any of the parties involved in the transaction and
promote the welfare of applicant.
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We then open the L/C and using the good offices of our correspondents see
that it reaches the beneficiary most expeditiously and we arrange to get L/C
confirmed if needed. We make necessary amendments to expedite the transactions.
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On day of retirement of document we see that the money is transferred expeditiously
or acceptance is made as per L/C terms.
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