RCG's has a number of opportunities available for traders (importers) of commodities, especially those in developing countries and emerging markets. We provide a wide range of trade financing options to our clients including:
Letter of Credit
Standby Letter of Credit
Other Financial Instruments for project development and implementation
RCG have secured an agreement, in principle, with a number of Bank and other financial institutions to facilitate trade finance in form of Letters of Credit) LCs, without the usual collateral required by UK or African banks.
A Letter of Credit (LC) is a document issued by financial institutions to be used specifically for trade finance. LCs usually provide a payment undertaking and can be in form of Irrevocable/revocable, confirmed/unconfirmed, transferable, back-to-back: revolving, etc, but is most commonly irrevocable/confirmed), to a beneficiary against complying documents.
Letters of Credit are used as a line of credit. A line of credit is required by many companies to accomplish a multiplicity of task. Letters of Credit can be issued generally for 30 days, 60 days, 90 days, 6 months, or 1 year, with optional renewal periods. The letter of credit is released to the applicant when the applicant shows the financial institution that they have adequate collateral and the ability to pay for the instrument. The required yield changes from time to time; therefore contact us for more information. This approach to funding is very beneficial in many instances.
There is an up-front cost of the Letter of Credit Commitments, which is part of the total commitment fee. The time for delivery of a letter of credit is approximately one week after payment has been received by the issuing bank/investor.
We work by invitation only and together with our funding partners we can fund transactions through this financial instrument.
Please contact us at firstname.lastname@example.org, for further details and an application form for this service.
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