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Letter of Credit at Sight

Last Updated On September 6, 2018 By Letter Writing Leave a Comment

A Letter of Credit at Sight is a Letter of Credit (LC) that is meant to be paid as soon as the letter is sent – within five to ten days – after the seller meets the conditions laid down in the Letter of Credit. It is a commercial type of letter that a financial institute issues mainly in trade finance, which generally arranges for an undertaking of certain payment if accompanied by necessary documents. This type of Letter of Credit is the quickest form of payment for sellers, who often sell products to overseas buyers.  The Letter of Credit at Sight is an application given to the buyer by the seller, asking for the payment required.

This letter of credit is not part of the other contracts of the transaction, though both the buyer and seller must agree to it. It can be used for national or international business but is used more in international sales transactions as takes the risk away from the buyer and seller by having a bank involved in the transaction.

Letter Of Credit At Sight Writing Tips:

  • Write everything in detail, the amount, payment mode. Etc.
  • Mention the documents you have enclosed along with the letter.
  • Assure that you agree to all the mentioned terms and conditions.
  • Be very professional and simple in tone.

Letter Of Credit At Sight Template

Use our free Letter of Credit at Sight to help you get started.

From,

____________

____________

Date : ________ (date on which the letter is written)

To,

____________

____________

Subject: Letter of Credit at Sight.

Dear _____ (Sir/Ma’am),

I am ____(name) writing this letter to you to let you know that _____(name of the company) is in line with all the terms and conditions and we desire to purchase material from the company. We accept all the terms and conditions mentioned by the company. Therefore request you to kindly engender a non-changeable credit number that is to be given to ______(name of the company) against the amount not to exceed ____(amount).

We have enclosed all the necessary documents. We assure you to gratify all the terms and conditions as and when the submission of the documents is made. You are requested to present all the documents for the payment before _____ days (number of days) from the shipment date. Waiting for a positive response from your side.

Thanking you,

Yours Sincerely,

__________ (Name)

__________ (Signature)

Sample Letter

The following is a sample of a Letter of Credit at Sight.

From,

Emma Harington,

Sales Manager,
Pearson Specter Inc.
6 January 2017

To,

Daniel Madden,

Senior Partner,

Darby Foundation.

Subject: Letter of Credit at Sight

Dear Sir,

This letter is written to you to make you aware that Pearson Specter Inc. will act by the regular terms and conditions and that we wish to buy the material from your company. We agree to the rules and regulations that are specified by the company. We hereby request you to generate a non-changeable credit number for the account of Pearson Specter Inc. in support of the amount agreed upon, $15, 000.

We have already submitted all the relevant documents, like a copy of the material list, signed commercial invoices, documentary credit number, insurance policy coverage, shipment notices, fee payment instruction, etc. We promise you that we will fulfill all the terms and conditions after the documents are submitted as mentioned before the due date given. Kindly bow to all the documents for the payment within twenty days after the date of consignment. Looking forward to a positive reply from your end.

Thanking you,

Yours Sincerely,

Emma Harington.

Email Format

The following is the Email format that should be followed while writing a Letter of Credit at Sight.

To: name@email.com

From: name@email.com

SUBJECT: Letter of Credit at Sight

Dear _____ (Sir/Ma’am),

I am ____(name) writing this letter to you to let you know that _____(name of the company) is in line with all the terms and conditions and we desire to purchase material from the company. We accept all the terms and conditions mentioned by the company. Therefore request you to kindly engender a non-changeable credit number that is to be given to ______(name of the company) against the amount not to exceed ____(amount).

We have enclosed all the necessary documents. We assure you to gratify all the terms and conditions as and when the submission of the documents is made. You are requested to present all the documents for the payment before _____ days (number of days) from the shipment date. Waiting for a positive response from your side.

Thanking you,

Yours Sincerely,

__________ (Name)

Related Letters:

  1. Terms of Letter of Credit
  2. Letter of Credit Format
  3. Credit Reference Letter
  4. Confirmed Letter of Credit
  5. Transferable Letter of Credit
  6. Revolving Letter of Credit
  7. Letter of Credit Template
  8. Irrevocable Commercial Letter of Credit
  9. Documentary Letter of Credit
  10. Red Clause Letter Of Credit
  11. Sample Credit Card Dispute Letter
  12. Revolving Letter of Credit
  13. Sample Credit Letter
  14. Credit Card Transaction Dispute Letter
  15. Credit Card Authorisation Letter
  16. Hardship Letter to Creditors

Filed Under: Credit Letter Tagged With: How to Write a Letter of Credit at Sight, Letter of Credit at Sight Example, Letter of Credit at Sight Format, Letter of Credit at Sight Template, Sample Letter of Credit at Sight

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