The QLC Solution: Overview
QLC takes the pain out of the paper processing of Letters of Credits. We apply technology to speed up data entry and document execution. We offer:
1. Document Preparation Services
2. The QLC Tool - an easy-to-use web application to create LC instructions. The tool allows you to set up users, create and modify standard sales and credit terms, and locate banking partners that best fit your needs.
3. The Document Preparation Engine (DPE). The DPE reveals the real-time status of letter of credit (LC) transactions via an intuitive web-based interface, keeping exporters up-to-date on all critical stages of LC transactions. Designed to speed cash flow and provide access to detailed LC information, the QLC Client Dashboard saves exporters time and greatly simplifies the LC process. From anywhere in the world, an exporter can quickly review pending deadlines, receive LC-related alerts and perform detailed reporting.
What Makes QLC So Special?
In order to show how QLC can make a difference in your company, it’s important to first establish how a letter of credit (LC) interacts with the global exporting/shipping world. LCs are financial instruments used to transfer funds from an importer/customer to an exporter/shipper. LCs act as a safety net, mitigating the risk of importer nonpayment by substituting the creditworthiness of a foreign financial institution. This allows companies engaged in export sales to minimize their risk of payment.
LCs require very precise, detailed documentation — as one would expect when millions of dollars are involved! Many problems arise when companies try to generate LCs in-house, through a freight forwarder, or the bank. Each of these scenarios has its share of risks and problems — and even the smallest of LC problems can cause a delayed LC payment.
QLC removes this risk entirely by offering professionally outsourced LC preparation. With an unmatched track record of success and the latest technology, QLC guarantees that you’ll be spared time, money, and headaches. The following sections offer an in-depth look at how QLC makes a difference for global companies over millions of dollars:
- The LC Process: Learn more about the logistical hoops that an LC has to jump through in order to be properly processed.
- LC Problems: Even the smallest discrepancy can delay payments and cause headaches — find out what these potential pitfalls are and what can generate them.
- Our Solution: QLC guarantees discrepancy-free (and problem-free) documents to expedite payments.See how QLC gets it done.
- Analysis: Learn more about how QLC offers a great return-on-investment with sample numbers and data.
QLC In The LC Process: QLC plays an integral role in the LC process. See how QLC fits into the processand makes things safer and more efficient.
Free On-line LC Training
QLC now offers free on-line LC training this 1 hour course provides introduction to Letters of Credit as well as answering all questions regarding the UCP 600. We are also offing access to our banking consultants to answer the more technical questions in writing. Both ways will provide exporters with the necessary tools to make the right business decisions. QLC is pleased to underwrite these expenses as part of our overall commitments to our clients (and future customers!).