Flexibility for Sellers | Open Negotiation Rights | SWIFT MT700 Compliant

⚠️ Want to Let the Seller Choose Their Own Advising or Negotiating Bank?

An exporter in West Africa received an LC restricted to an unfamiliar bank. Payment was delayed. For their next deal, NNRV structured an Unrestricted LC, allowing them to use their preferred bank—result: smooth, fast execution.

• 🧠 “Unrestricted LC gave us the freedom to work with our own bank. NNRV’s structure was efficient and fast.” – Ibrahim K., Cocoa Exporter

What is an Unrestricted Letter of Credit (LC)?

An Unrestricted LC is a type of Letter of Credit that allows any nominated, authorized, or willing bank to act as advising or negotiating bank. It is the opposite of a Restricted LC, offering full flexibility to the beneficiary (usually the seller/exporter).

At NNRV Trade Partners, we issue Unrestricted LCs via SWIFT MT700 format in compliance with UCP 600. This structure is commonly used in deals where sellers want speed, control, and the ability to use their own banking relationships.

• 🧠 “Unrestricted LC saved us from the bottlenecks we faced before. It’s our new standard.” – Julie D., Agricultural Supplies Exporter

Key Benefits of Unrestricted LC

✅ Maximum Flexibility – The seller can present documents to any willing bank.

✅ Faster Processing – Exporters choose the bank they trust and that knows their documentation flow.

✅ Better Negotiation Power – No imposed bank constraints.

✅ Easier for SMEs – Enables local banks to participate without formal designation.

✅ UCP 600 Compliant – Fully recognized by all SWIFT-enabled financial institutions.

How Does an Unrestricted Letter of Credit Work?

1. Buyer Requests LC – Without specifying a restricted advising or negotiating bank.

2. Issuing Bank Sends SWIFT MT700 – Available to any authorized bank.

3. Seller Ships Goods – Presents compliant documents to a bank of their choice.

4. Bank Verifies & Sends to Issuer – For document compliance review.

5. Issuing Bank Releases Payment – Once documents are accepted.

📂 Documents Required for Unrestricted LC Issuance

To structure an Unrestricted LC, we ensure all LC parties understand the flexibility granted. Required documents typically include:

📌 Signed Trade Agreement – Without restriction clauses.

📌 Proforma/Commercial Invoice – With delivery and payment terms.

📌 Company KYC Documents – For both buyer and seller.

📌 Compliance Check Forms – UBO declaration, AML/KYC checklist.

📌 Shipping Plan – Mode of transport, port of delivery.

🏦 Common Issuing Banks for Unrestricted LC (MT700)

Unrestricted LCs are available through banks that support open and flexible documentary credit practices. NNRV works with:

(📩 We help match the LC structure with the best bank for your region.)

🎯 Why Use an Unrestricted LC?

🛠️ Our 5-Step Process

1. We assess your trade project & bank preferences

2. Draft an Unrestricted LC under SWIFT MT700 format

3. Buyer approves and pays LC issuance fees

4. LC issued and transmitted to any advising bank

5. Seller presents documents and receives payment

🔍 Unrestricted LC vs Other Instruments

Why Choose NNRV Trade Partners for Unrestricted LC Structuring?

🔒 Total Flexibility, No Compromise
✅ Fast Structuring in 3–5 Days
🌍 Support Across 40+ Jurisdictions
📄 Document Drafting & Compliance Check
📁 Customized Bank Matching & Monitoring

💲 Important Notes on Fees

Fees depend on:

• Choice of issuing bank

• Risk assessment of jurisdiction

• Value and volume of LC transactions

🔹 Request a pre-diagnostic to define the optimal LC structure.

🧠 Real Testimonials

• “We needed flexibility. NNRV helped us get an unrestricted LC with a top EU bank.”

  – Alice M., Leather Goods Exporter – Tunisia

• “Our bank wasn’t listed at first—but with the unrestricted LC, we used our own. Brilliant.”

  – Eric S., Agroexporter – Ghana

📚 What Makes Us Different?

✔️ SWIFT MT700 Structuring Expertise
✔️ Seller-Oriented LC Setup
✔️ Flexibility + Security
✔️ Transparent Process and Documentation Guidance

📌 From $250K to $100M+ unrestricted LC deals in execution

❓ Top 5 FAQ – Answered by Experts

1. Can I use any bank to process the LC? Yes, if they’re authorized and capable of handling MT700.

2. Does this reduce security? Not at all. The issuing bank is still obligated to pay.

3. What if my bank isn’t on your list? You can propose it—we assess and include upon verification.

4. Is this faster than Restricted LC? Yes, especially if your bank is already familiar with your file.

5. Can I request confirmation too? Yes. Any nominated bank can choose to add confirmation.

🔗 Related Services

• Transferable LC
• Irrevocable LC
• Export Bank Onboarding
• LC Compliance Training
• Global LC Structuring Desk

📖 Strategic Blog Posts

• How Unrestricted LCs Empower Sellers
• Unrestricted vs Restricted LC – Which One to Choose?
• LC Structuring for Cross-Border Agri-Trade

🚀 Structure Your Unrestricted LC Now!

Don’t let the buyer choose your bank. Take control. Let NNRV issue an unrestricted LC that works on your terms.

📩 Book Your Free LC Strategy Session
☎️ Talk to an Expert | 🌍 Global Issuing Network | ✅ 100% SWIFT MT700 Delivery