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Express capital group

provides letters of credit to clients businesses...

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Letter of Credit

is one of the safest mechanisms available for an exporter to ensure that he gets his payment correctly and the importer is also assured of the ...

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Express capital group

A comprehensive solution your suppliers will trust...

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Express capital group

Unexpectedly fast project finance.

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Express Capital Group

Letters of credit accomplish their purpose by substituting the credit of the bank for that of the customer, for the purpose of facilitating trade.

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Contact us

Contact us

Phone: +1 (516) 847-2177

Fax: +1 (516) 620-6818

info@express-capital.com

Latest transactions

Express Capital Group provided Letter of Credit valued USD 550,000 to our client toward purchase of Steel Bars.


Express Capital Group provided Letter of Credit valued USD 780,000 to our client toward purchase and import of Rice.


Express Capital Group provided Letter of Credit valued USD 450,000 to our client toward purchase and import of Building Materials.


Express Capital Group provided Letter of Credit valued USD 55,000 to our client toward purchase of Sporting Goods.

Express Capital Group provided Letter of Credit valued USD 148,000 to our client toward purchase and import of Home Furniture from manufacturer.


Express Capital Group provided Letter of Credit valued USD 240,000 to our client toward purchase and import of Kitchenware from manufacturer.


Express Capital Group provided Letter of Credit valued USD 350,000 to our client toward purchase and  import of Clothing from manufacturer.

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How to use our letter of credit

Sample Procedure for Express Capital Group Letter of Credit

The following is a detailed summary of the steps involved in a purchase order transaction that is paid for by letter of credit and the benefits to the seller and supplier.

Terms:

• Beneficiary – This is the person or company that is paid under a letter of credit when all conditions are met.

• Issuing Bank – This is the bank that issues the letter of credit and checks the Documents presented by the Beneficiary through its Advising Bank.

• Advising Bank – This is the Beneficiary’s bank. The Issuing Bank corresponds with the Beneficiary through the Advising Bank.

• Documents – Each letter of credit lists specific documents that the Beneficiary must produce in order to trigger payment under the letter of credit. These normally include, among others, a bill of lading, commercial invoice, packing list, and certificate of origin.

Transaction Structure:

1. Your company enters into a purchase agreement with your supplier

2. Your company completes an Application for an Irrevocable letter of credit with information pertaining to you transaction and then submits it to Express Capital Group for processing.

3. The letter of credit is usually issued within 24 hours of the time we receive your completed application. Upon issuance, the Issuing Bank sends the letter of credit to the Advising Bank electronically.

4. The Advising bank establishes the authenticity of the letter of credit and informs the Beneficiary (i.e., your supplier) that it has been received.

5. Your supplier produces and ships goods to your company against the letter of credit.

6. The Supplier / Beneficiary presents the Documents to the Advising Bank for payment under the letter of credit.

7. The Advising bank sends the Documents to the Issuing bank which checks to make sure they conform to the terms of the letter of credit.

8. Your company pays Express Capital Group for the amount drawn under the letter of credit or has previously made arrangements for extended credit terms.

9. Express Capital Group through the Issuing Bank releases the Documents to your company and the Issuing Bank wires the funds to your Supplier through its Advising Bank.