X-Port Services

 

Letters of Credit (L/C or LOC)

Generally this process starts with the importer in his or her country. Since many transactions are financed with a letter of credit, the importer will obtain a L/C from his or her bank and forward that document to the shipper/exporters' bank in the U.S.

The exporter then must follow the terms of the letter of credit (L/C) and prepare the documents required by the L/C. At times this can be a time-consuming and complicated matter, so many companies usually hire someone else to prepare these documents - that's where X-Port Services comes in.