We can and often do assist our clients in the negotiation stage or with the application stage. We are available if you have questions prior to the credit being issued. What to avoid, what to ask for, and other issues or concerns you may have in the beginning negotiation with your customer or the applicant. The transportation documents can be very involved and we suggest you may be more comfortable discussing this part of the transaction with the freight forwarder to discuss if what the credit is requiring can be complied with. Can you ship to the named port? Are the costs and charges all accounted for?
Working with Benchmark at the application or during the initial negotiation can save time and avoid potential discrepancy fees. Once the credit has been opened, we can be another “set of eyes” to review the credit to make sure it complies with the details during the preliminary negotiations.
These early negotiations with your customer to make sure all the terms and conditions can be complied with and that all parties are in agreement leads to a very successful final negotiation of the Letter of Credit between the issuing and/or the confirming bank and your prompt receipt of payment.