Reflecting a trend in the UK for more participation of non-bank providers in the documentary credit market, Chamber International is continuing to report setting up letter of credit (L/C) for small- and medium-sized enterprises.

One of the chamber's recent deals is for a very small export-oriented company with just two employees.

Specialist Laminates

Chamber International, an offshoot of the UK's Chambers of Commerce, reports that a specialist team successfully completed a 'clean' L/C presentation for Specialist Laminates.

The deal involved the supply drums of resin solution used to produce laminated glass to a Sri Lankan customer, CPP Industries.

The chamber's specialist team is made up of former banking advisors and shipping managers.

Export support

Specialist Laminates currently exports 70 per cent of its annual sales of £1 million and has major markets in Asia, Africa, Europe and The Middle East.

"Although we have supplied this customer before...[we] did not have the expertise to deal with L/Cs," according to Specialist Laminates export sales manager, Dean Raven.

He says that he was recommended to use Chamber International and they, "removed a lot of pressure from me, reducing my workload and eliminating deadlines. I will certainly be using them again when we are required to work with L/Cs," Raven added.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.