FAQ’s

Frequently Asked Questions

I generally open letters of credit through my bank. How are your letters of credit different?

The letters of credit that we issue are opened using collateral from our business partner Maersk through prime banking institutions. When you open the Letter of Credit through your bank, you use your credit line. When you open through us, you use our credit lines.

For what type of goods do you open a letter of credit?

We can open letters of credit for any type of goods provided they fall into our ethical and legal criteria. That said, we will not get involved in transactions involving weapons under any circumstances.

What is the maximum size letter of credit that you open?

We consider the complexity of the transaction, the goods that are being traded, and other factors having to do with the parties to the transactions and where they take place.

What is the charge for opening a letter of credit?

The letter of credit charge depends on a number of factors. Our agents can provide you with an up to date tariff schedule.

I opened a letter of credit to my supplier, but he did not ship the goods. Will you refund my fee?

Once the letter of credit is approved your fee can not be refunded. We recommend to all of our clients that they need to assure themselves of their suppliers' ability to perform before opening any banking instruments to them.

What type of collateral do you require to open a letter of credit?

We use our business partner collateral (Maersk) to open a letter of credit. When a client wishes to open a letter of credit, he presents us with the details of his transaction so that we can make a decision about the transaction on its merit. The final decision by our company to enter into a transaction is made according to a set of criteria.

Why HEK International Limited?

We provide innovative solutions for all of your trade finance needs and a world of benefits: Start trading relationships with new suppliers and new or existing trading territories. Secure discounts from your suppliers by securing grade A+ grade Guarantees. Faster transactions and faster payments Ease your cashflow Your suppliers are paid quickly and the currency of their choice Leverage your transactions We work alongside you through the trade cycle, from initial order to customer payment, enabling you to fulfill existing orders and accept new ones.

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