FOR IMPORTERS

Letters of Credit Terms

At URIPS, we prioritize security and reliability in our international trade transactions. Our Letters of Credit (LC) terms offer a trusted and widely accepted method to safeguard both buyers and sellers. Here’s what you can expect when you choose URIPS under Letters of Credit terms:

What is a Letter of Credit?

A Letter of Credit is a financial document issued by a bank that guarantees payment to the seller, provided that the terms and conditions specified in the LC are met. This method provides a high level of security for both parties involved in the transaction.

Key Features of Our Letters of Credit Service

How It Works

  1. Order Confirmation:
    • Place your order with URIPS and specify Letters of Credit terms.
    • Receive a detailed quotation and proforma invoice.
  2. Issuance of LC:
    • The buyer requests their bank to issue a Letter of Credit in favor of URIPS.
    • The bank issues the LC and notifies URIPS through its advising bank.
  3. Shipment:
    • URIPS prepares and ships the goods as per the agreed schedule.
    • Shipping documents are submitted to URIPS' bank for verification.
  4. Document Verification:
    • URIPS' bank verifies the documents against the LC terms.
    • The documents are sent to the buyer's bank for payment release.
  5. Payment:
    • The buyer's bank releases payment to URIPS upon document verification.
    • The buyer uses the documents to take possession of the goods.

Why Choose URIPS?

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