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Follow-Ups, Errors & Updates Challenges with Letter of Credit

Follow-Ups, Errors & Updates Challenges with Letter of Credit

Apr 22, 2015

Extracted Page: http://letterofcredit.weebly.com/home/follow-ups-errors-updates-challenges-with-letter-of-credit

In today’s environment of doing less with more, overworked staff does not have time to deal with the challenges of LC document preparation. The steep learning curve, preparing documents, managing information flow and monitoring the whole LC process is often complicated and time consuming.

The Errors of Multiplicity

Each LC transaction requires coordination among many different entities. The Letter of Credit includes instructions that must be adhered to by the exporter, an insurance agency, the local chamber of commerce, an inspection company and the freight forwarder. Each group

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