When you use our Online Export Letters of Credit (L/C) service, you will be able to reduce your costs, improve your cash flow and free yourself from documentation hassles.

We save you money
With Export Assist, your bottom line will benefit from:

attractive flat rates lower daily sales outstanding (DSO) prompt and timely receipt of funds elimination of costly document errors and inefficiencies leading edge online technology without the capital expense potential tax savings.

You will also be able to increase your competitive advantage by receiving export payments faster than your competition.

We save you time
Export Assist's friendly, experienced specialists make L/C processing fast and easy. When you call us at 800-894-8366, we will talk with you about your L/C, obtain the necessary information, and answer any questions that you might have. By using our online service, you will benefit from:

• faster processing time
• improved consistency in document preparation
• no hassle transaction processing
• secure, dependable technology
• continual updates and tracking - anytime, anywhere.

Upon receipt of the completed L/C, we will review it for built-in discrepancies and enter it online. After you ship, we will contact your freight forwarder and bank to ensure that the documents are processed on-time and you receive your payment as quickly as possible. You no longer need to worry about doing it right or stress about possible inaccuracies. We handle everything: fast, efficiently and worry free.

How Does It Work?
When you use Export Assist to process your L/C, we will:

• work with the advising bank to assist you in obtaining the original L/C
• receive the original L/C from the advising bank
• place it in our Online Export Letters of Credit system
• notify you of critical dates, such as ship dates and L/C expiration dates
• receive the invoice and other pertinent documents from you upon shipment
• work directly with your freight forwarder to obtain the transport document
• notify you electronically when L/C documents are delivered to our or your negotiating bank
• track delivery of L/C documents to the negotiating and issuing banks for payment– online, real time
• send you electronic confirmation when payment is released.

Export Assist’s involvement in the L/C process is illustrated below.

Attractive Flat Rates
Our banking partners are members of the U.S. Federal Reserve System and are strategically chosen for their processing facilities and competitive pricing.  As a result of our strong financial relationship with them, we are able to offer you especially attractive flat rates, whether you have a large single L/C or multiple smaller L/C’s.  We also eliminate any potential difficulties between you and your bank that could harm the successful and timely completion of your transaction.

Secure, Dependable Technology
At Export Assist, we use the latest secure, dependable export finance technology to gather information, process documents, and report transaction status to you.  We can receive any type of L/C information electronically from multiple sources, including banks, freight forwarders and customers, thereby eliminating data processing input errors.  All transaction information is completely confidential, protected by encryption technology that requires an authorization code to access.  Only authorized employees, executives and tax advisors can access the same network of information, thereby helping to eliminate customer discrepancies and misunderstandings.

Continual Account Updates
If you or your authorized representative want to know the status of a transaction or track your cash flow, you can either call or e-mail us during business hours or go online to view it on our real time-enabled screens, 24 hours a day, 7 days a week. Your transaction will be continually updated, from the time the L/C document is registered online to when transport documents have been issued and the bank has released funds to your account. We will also notify you personally and promptly if there are any problems that need to be resolved, such as obtaining a document or collecting a payment. Whether Export Assist is handling a single L/C transaction or your whole L/C portfolio, you will be able to access the most current, confidential information on our website at any time and at any internet location around the world.

L/C-Related Export Assist Services
In order to optimize your export Letters of Credit transactions, you can use them to qualify for tax advantages through Foreign Economic Processing (FEP). Our specialist will work with you to create a program specifically designed to maximize your tax savings on export sales.

For more information about our Online Export Letters of Credit and related services, please contact us at 800-894-8366 or click info@exportassist.com.