I would like to know what kind of charges to expect if our organization decides to outsource Letter of Credit or if we can avail a consultancy service?
Thank you for your question.
Open to Export is a web service for UK companies who need help doing business overseas. With this in mind, you may not get the response you are looking for from this community.
It might be worth contacting your local Chamber of Commerce regarding advice about Letters of Credit. Please see below for a link to the Export Services page on the website for the Fingal Dublin Chamber.
Hope that this is useful.
Take this with a grain of salt as it belongs to a different jurisdiction but here in Spain it´s quite usual to fill the gap between the accountant, a member of the selected bank- targeted with the best costs in mind- and the lawyer that drafts the contract; i.e. me.
An specific consultancy service could fit the bill if the number-value of L/C´s gets really high. In any other case i would try to dillute it through your general legal costs. It´s usually a lateral job fulfilled by a mix of lawyers, accountants and export managers (depends on the availability).