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C Loan

Commack, NY
December 11, 2019

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DAAG INC New York was a small import and export company. Dealing with customers, vendors, and suppliers in the small industries (garments, carpets, toys, jewelry, appliances, etc in domestic and foreign nations). Responsible for day to day bank dealings, and managed all aspects of letters of credit commercial / standby and collection. Having responsibility for providing trade finance services to customers, I had to work out and coordinate with loan department for the loans in ordering goods according to demand from foreign / local customers and the company's requirements and their guidelines. I had to open L/C(s) through the banks with whom DAAG had credit lines. I was responsible for reviewing and setting up L/C(s) of the customers ensuring all the terms and conditions in accordance UCP 600, ISP 98 and collection rules and that the right procedure at the right place in accordance with the requirements of OFAC / BSA / AML. I was also responsible for billing fees to the customers and banks.

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