An LC Problem Solved


Greetings!   westcap_0001_Layer 6                                                              We perform a number of tasks related to letters of credit. Last month we assisted a client in getting paid immediately against a Documentary Letter of Credit that was due to have funds released four months after the necessary documents were presented. In the industry that’s called a usance LC. (When dictated into the phone, it came up “useless Elsie”. There are still a few bugs in voice recognition).The issuing bank was in a non-European country with Mediterranean beaches and the client was here in the US. To complicate things further our client was providing services, not goods, to his Middle East customer and the letter of credit was to pay for those services.We and our partners made certain the correct documents were required in the letter of credit to satisfy LC requirements so that the bank could advance the money.  This is trickier than you might think; banks are a lot more comfortable with LC’s related to goods rather than services.After that part, the last bit was much easier: getting the client paid immediately (at sight, in LC parlance), even though the LC specified payment in four months from date of document submission.  As it happens, the interbank rates in such cases are usually much less than normal bank interest charges to customers, so the customer saved money here too when those lower charges were passed through by the bank.

TrumpYou may be thinking we’re just trolling for readers by mentioning the biggest, hugest name in American politics this election year.  But no. We were fascinated by an analysis of the national and global effects of a Trump presidency. You might be, too, if you like that sort of thing, focused mostly on the economic effects.  Apart from the article, one could reasonably wonder if, based on campaign rhetoric, the French are considering asking for their Statue of Liberty back.
Business as (Un)UsualThe financial markets began by imploding in on themselves. And oil fever, or maybe more a rash, is spreading to the banks who loaned like there was no tomorrow.  We’ve seen a number of explanations for the decline in oil, but believe the simplest may be the best.Imagine that you are one of the eminences who control billions of barrels of crude.You read the news and consider:

  • the consensus of climate science
  • growing movement to divest fossil fuels from endowment portfolios
  • global agreement to reduce fossil fuel usage
  • coal as an indicator of things to come in oil

Remember, you own untold amounts of something society wants to and has the technology to replace. Wouldn’t you want to convert your assets into as much cash as you can as quickly and quietly as you can, while publicly maintaining you love your oil and you haven’t a care in the world?

Get in touch if we can assist you with cross-border transactions (even fuel-related), either for assistance with letters of credit or international and domestic factoring.We call it Jigsaw Capital because to us, life is a series of puzzles to solve. Financial puzzles, that is. We don’t have the time for jigsaw puzzles these days.Authored By:

Doug Freidenberg


28 thoughts on “An LC Problem Solved

  1. Reply

    Everyone loves what you guys tend to be up too. This kind of
    clever work and coverage! Keep up the fantastic works guys I’ve included you guys to our

  2. buy kamagra Reply

    This is a topic that’s near to my heart… Many thanks!

    Exactly where are your contact details though?

  3. First light with Zhum Reply

    “Thanks for the sensible critique. Me and my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more from this post. I’m very glad to see such excellent information being shared freely out there.”

  4. دانشمند علمي Reply

    Hallo I’m pretty pleased to discover this site. I want to thank you for ones time due to this wonderful read!! I definitely liked every part of it and I have you bookmarked to see new stuff in your web site.thank u

  5. canadian Reply

    I think this is among the so much significant info for me.
    And i am glad reading your article. However want
    to statement on few common issues, The website style is wonderful, the articles is really nice :
    D. Just right task, cheers

  6. Rickey Reply

    Woah! I’m really loving the template/theme of this site.
    It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between superb usability and visual appeal.
    I must say that you’ve done a great job with this. Also, the
    blog loads extremely fast for me on Internet explorer.
    Outstanding Blog!

  7. Birgit Reply

    My spouse and I stumbled over here coming from a different website and thought I might as
    well check things out. I like what I see so i am just following
    you. Look forward to exploring your web page again.

  8. Erwin Mahomes Reply

    I can’t believe how great this site is. You keep up the good work. That’s my advice pal.

  9. Mable Reply

    Hi there! This is my 1st comment here so I just wanted to give a quick shout out and say I genuinely enjoy reading your blog posts.
    Can you recommend any other blogs/websites/forums
    that cover the same subjects? Appreciate it!

  10. furtdso linopv Reply

    My brother suggested I might like this website. He was entirely right. This post truly made my day. You can not imagine just how much time I had spent for this information! Thanks!

  11. Franklin Reply

    Hi to every , since I am truly eager of reading this website’s post
    to be updated regularly. It carries nice information.

  12. minecraft Reply

    This page certainly has all the information and facts I needed about this subject and didn’t know who to ask.

  13. minecraft Reply

    Attractive section of content. I simply stumbled
    upon your weblog and in accession capital to claim that I get actually loved account your weblog posts.

    Anyway I will be subscribing to your augment or even I achievement you get admission to consistently rapidly.

  14. minecraft Reply

    Wonderful article! We are linking to this great content on our site.

    Keep up the great writing.

  15. minecraft Reply

    I have to thank you for the efforts you’ve put in writing this website.
    I’m hoping to view the same high-grade blog posts by you in the future
    as well. In truth, your creative writing abilities has inspired me to get my own blog now 😉

  16. minecraft Reply

    Hello i am kavin, its my first time to commenting anyplace,
    when i read this article i thought i could also create comment due to this good paragraph.

  17. minecraft Reply

    I enjoy, cause I found exactly what I was looking for.
    You’ve ended my four day lengthy hunt! God Bless you man. Have a great day.

  18. minecraft Reply

    What’s up, I desire to subscribe for this blog to take newest updates, so where can i do it please help.

  19. minecraft Reply

    Hello There. I discovered your weblog the use of msn. This is
    an extremely neatly written article. I’ll be sure to
    bookmark it and come back to read extra of your helpful information. Thank you
    for the post. I’ll definitely return.

  20. minecraft Reply

    I do accept as true with all the ideas you have introduced
    in your post. They’re very convincing and
    can certainly work. Nonetheless, the posts are very brief for
    beginners. Could you please extend them a little from subsequent time?
    Thanks for the post.

  21. minecraft Reply

    Spot on with this write-up, I seriously believe this amazing site needs a great deal more attention. I’ll probably
    be returning to see more, thanks for the advice!

  22. minecraft Reply

    hello!,I really like your writing so a lot!
    percentage we be in contact more about your post on AOL?
    I need a specialist on this area to resolve my problem.
    May be that is you! Taking a look forward to peer you.

  23. minecraft Reply

    Hi there it’s me, I am also visiting this web page on a regular
    basis, this website is in fact fastidious and the people are actually sharing nice thoughts.

Leave a Reply

Your email address will not be published. Required fields are marked *