Through our relationships, Agro Solutions Center offers commercial letters of credit as a form of payment for transactions in international trade. Foreign exporters that deal with unfamiliar companies thousands of miles away are naturally uncomfortable investing money to produce goods and ship them without any assurance of payment. Without a letter of credit, exporters generally ask for substantial deposits or other payment guarantees. Letters of credit allow buyers to avoid these undesirable alternatives.
Likewise, importers dealing with foreign suppliers don’t want to pay upfront for goods that may not correspond to purchase order specifications or may arrive late, if ever. Naturally, buyers would prefer to postpone payment until they receive the goods as expected. Letters of credit can prevent buyers from losing deposits when the sellers’ performance is deficient in any way. Without the letter of credit, buyers are left to fend for themselves to recover their deposits if goods are not produced according to spec.
For both buyers and sellers in a given transaction, letters of credit represent a reasonable compromise that protects both sides’ interests by assuring exporters that they will get paid once they produce and ship the goods according to certain documentary requirements that in turn protect importers’ interests. This is akin to an escrow arrangement, ensuring exporters that the goods won’t be released until they get paid and providing buyers with a guarantee that they will get the goods if the exporter is paid.
Remember that A.S.C offers unsecured letters of credit, something most other financiers do not. Unsecured means you do not have to tie up valuable collateral to open a letter of credit.
Applicant hereby requests that Agro Solutions Center, Inc. issue an irrevocable commercial letter of credit and business financing, or arrange for the issuance thereof by any of its agents, affiliates, subsidiaries, or correspondents, substantially in accordance with the information contained in this application and subject to the terms and conditions of our agents or affiliates and the Uniform Customs and Practice for Documentary Credits, 2007 Rev. (ICC Publication No. 600). Instructions: Please complete each field on our Apply or contact link. All fields marked with an asterisk are required. Select a field by clicking on it or press the TAB key to switch fields.
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