What is LC discounting, and when does it make sense?
How exporters turn a usance letter of credit into cash today, what it costs, and the questions to ask before you discount.
Read · 6 minFor exporters
Get paid for your exports without waiting for maturity
List your letter of credit once. Banks and financiers compete with sealed bids, and you pick the offer that suits you, before the documents ever reach the bank counter.
Pre-check passedReady for bids
What you get
Built around how you work
AI document pre-check
Find UCP 600 discrepancies in your LC, invoice, bill of lading and packing list before you present them, with a fix for each one.
Competing, sealed bids
Every financier bids blind, so prices are driven by competition, not by who you happen to know.
See your money before you choose
Each bid shows exactly what you receive after discount and fees. No surprises later.
Four-eye control
A second person in your company approves every listing and acceptance, so nothing goes out by mistake.
Any currency, any country
List LCs in every ISO currency, issued by banks anywhere in the world.
Ready when you are
Set up takes minutes. We help you configure roles and security from day one.
Request a demoYour journey
From sign-up to cash
1Create your accountSign up, confirm your email and your company is set up with makers and checkers.
2List and uploadEnter the LC details and upload the LC and shipping documents.
3Fix before you presentRun the pre-check and correct any discrepancies it finds.
4Approve, compare, acceptYour checker publishes the listing. Compare sealed bids by what you receive, and accept the best.
Bids on LC-2611-00013 sealed bids
Financier A
7.25% p.a. · before acceptance
7.25% p.a. · before acceptance
US$180,602
you receive
you receive
Financier B
7.60% p.a. · before acceptance
7.60% p.a. · before acceptance
US$180,441
you receive
you receive
Financier C
8.10% p.a. · before acceptance
8.10% p.a. · before acceptance
US$180,210
you receive
you receive
Accept best bid
Questions
What exporters usually ask
What do I need to list an LC?
Your LC details (number, issuing bank, amount, currency and usance) and copies of the LC and shipping documents, such as the invoice, bill of lading and packing list. PDF, JPG, PNG and text files are accepted.
What does the AI pre-check do?
It reads your LC and documents together and checks them against UCP 600 and ISBP 821: amounts, descriptions, dates, ports, signatures, originals and more. You get a score, each discrepancy with the rule behind it, and a suggested fix. It is a pre-screen to help you, not a bank's official examination.
Who can see my documents?
Before you publish, only your own company. After your checker approves the listing, financiers who are eligible to bid can view them. Every view uses a private link that expires in about a minute.
Why does a second person have to approve?
This is the four-eye rule used by banks. The person who creates a listing cannot approve it, which prevents mistakes and misuse.
What is GIX Credit?
GIX Credit is an online marketplace where exporters holding letters of credit can have them discounted by banks and financiers. Exporters list an LC, financiers place sealed bids, and the exporter accepts the offer that suits them.
Is GIX Credit a bank or a lender?
No. GIX Credit is a technology marketplace. It does not lend money or hold funds. Financing is provided by the participating banks and financiers, under their own credit approvals and agreements.
Insights
Guides for exporters
The most common LC discrepancies, and how to avoid them
Many first presentations are found discrepant. These are the mistakes that come up again and again, with the UCP 600 rule behind each.
Read · 8 minSight vs usance LCs: how timing changes your cash flow
The payment term in your LC decides when you get paid. Here is how sight and usance credits differ, and where discounting fits in.
Read · 5 minRequest a demo
See GIX Credit with your own LC
Tell us who you are and we'll walk you through listing, pre-check and bidding, or set up your financier rules and limits.
- A walkthrough on your own documents
- Your organisation set up with the right roles
- Two-factor and limits configured from day one