Letters of Credit are common in International trade because the bank acts as an uninterested party between buyer and seller. For example, importers and exporters might use letters of credit to protect themselves. Communication can be difficult across thousands of miles and different time zones. A letter of credit defines the details so that everybody is on the same page and clear.Call us at +97167475144 or send an email to info@crmfinancing.com

Requirement

• 12 month bank statement of Business account
• Years in business: Minimum 3 years
• Clear repayment history of any other loans
• Business turnover of minimum AED 5-8 million per year
• Profitability: Net profit to be positive for last 2 years
• Audited financials (Balance Sheet) – 2 years
• History of having done some LC transactions in the past - desirable