Steel Mills open Letters of Credit directly to Iron Industries, LLC. We use them to buy from multiple suppliers at the same time. We do not transfer them to customers, but we will send you the LC Number for reference.
- We make booking. Or the Supplier can make the booking if we buy on a CIF Basis.
- Supplier loads 5+ containers and returns them to the port.
- We pay the ocean freight by wire transfer directly to the shipping line.
- We then exercise the Letter of Credit. It usually takes 4 – 7 business-days for us to receive funds.
- Once we receive funds we immediately pay Supplier by wire transfer.
- Bank of America Trade Operations in Pennsylvania USA processes our Letters of Credit.
- 5 Containers minimum per BL.
Call or WhatsApp or Signal: 1+305-780-4942 Text Messages = OK.