Trade Finance

Letters of credit, demystified

7 min read2025By ZWC

If you import from China at any scale, sooner or later the conversation turns to a letter of credit. For many brands it is the least understood part of the whole transaction — a piece of bank paperwork that feels designed to slow things down. Used well, it does the opposite: it lets you buy from a supplier you have never met, with payment that only releases when the agreed conditions are met.

What a letter of credit actually is

A letter of credit (L/C) is a guarantee from your bank that the supplier will be paid — provided they ship on the agreed terms and present the right documents. It moves risk off the two trading parties and onto the banks. The supplier ships with confidence; you pay only against compliant paperwork. Neither side has to fully trust the other.

How an L/C works — in four steps

01

You open the L/C

Your bank issues the credit in the supplier's favour and guarantees payment under the stated terms.

02

The supplier ships

Goods leave against the agreed terms, and the supplier gathers the shipping documents.

03

Documents are presented

The supplier submits the documents and every one is checked against the L/C — we check them too, before they reach the bank.

04

The bank pays

On fully compliant documents, payment is released. Clean documents in, payment out.

Where L/Cs go wrong: discrepancies

The danger is rarely the structure — it is the documents. A date that does not match, a description a word off, a missing signature: any of these is a discrepancy, and a discrepant presentation can delay payment or trigger fees. Most L/C problems are document problems, and almost all of them are avoidable with one careful review before submission.

Most L/C problems are document problems — and almost all are avoidable.

The right method for each order

An L/C is not always the answer. Part of handling trade finance well is choosing the instrument that fits the order, the relationship and your cash position:

L/C
Letter of credit. Bank-guaranteed and document-driven. Best for new or large relationships.
T/T
Telegraphic transfer. A bank-to-bank wire — simple and fast, common with trusted suppliers.
D/P
Documents against payment. The buyer pays to receive the shipping documents.
D/A
Documents against acceptance. Documents released against a promise to pay at a later date.
O/A
Open account. Ship now, pay later. The lowest cost — and the highest trust.

How we handle it

We coordinate the whole process across your brand, your bank and the supplier — structuring the right method per order, preparing compliant documents, and checking every one before it reaches the bank. The goal is simple: trade finance that works for you, not against you, with no surprises between shipment and payment.

Importing from China on an L/C?

We will structure the terms, prepare the documents and check every one — so payment releases cleanly and on time.

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