Enabling International Trade Through a Letter of Credit Solution: Case Study
Alex Kyriakides
Partnerships & Trade Manager · Jul 2, 2026 · 5 min read
Spark supported an Isle of Man-based manufacturer specialising in the research, development and production of medical and fitness devices that utilise Bioelectrical Impedance Analysis (BIA) technology. With over 30+ years of experience, the business exports its products to more than 25+ countries worldwide.
The company received an order from a new customer based in Africa. As this was the first transaction between the two businesses, the overseas buyer requested they make payment via an export Letter of Credit (LC), providing both parties with greater security for the transaction.
However, the client's (the beneficiary of the letter of credit) existing bank declined to advise the Letter of Credit due to the transaction value and the location of the issuing bank. Without a bank willing to advise the LC, the transaction was at risk of not proceeding.
Spark leveraged its banking network to identify a suitable UK bank with the appetite to advise the Letter of Credit issued by the overseas bank. This enabled the transaction to move forward with confidence.
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The Challenge
Although the client was an established international exporter with decades of trading experience, they faced two key challenges:
- The African customer was a new trading partner, making a secure payment mechanism essential for both parties.
- The client's existing bank was unwilling to advise the Letter of Credit because of the transaction size and the issuing bank's jurisdiction, leaving the client without a viable route to complete the sale.
Our Approach
Spark sourced a UK bank that was prepared to advise the export Letter of Credit.
The advising bank authenticated the Letter of Credit, verified its authenticity and acted as the client's banking partner throughout the transaction. Once the goods had been shipped, the client presented the required shipping documents in accordance with the Letter of Credit terms. Following successful document presentation, payment was made under the Letter of Credit and the proceeds were transferred to the client's nominated bank account.
"By securing a bank willing to advise the Letter of Credit, Spark enabled the client to complete an important international sale that may otherwise have been lost."
- Alex Kyriakides, Partnerships & Trade Manager, Spark Finance
The Outcome
By securing a bank willing to advise the Letter of Credit, Spark enabled the client to complete an important international sale that may otherwise have been lost.
The engagement delivered several key benefits:
- The client successfully completed a transaction with a new customer in Africa without having to decline the opportunity.
- The client gained confidence that payment would be received, provided the Letter of Credit terms and documentary requirements were met.
- A reputable UK bank authenticated and advised the Letter of Credit, providing additional assurance throughout the transaction.
- The client established a new international trading relationship, creating opportunities for future business with the overseas customer.
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The bottom line
By connecting the client with a bank that had the appropriate risk appetite and trade finance expertise, Spark removed a critical banking obstacle and enabled a secure, successful international transaction through the use of an export Letter of Credit.
Check your eligibilityAbout the author
Alex Kyriakides
Partnerships & Trade Manager
Alex specialises in partnerships and international trade finance at Spark Finance, working with UK importers and exporters to structure letters of credit, supply chain finance, and trade facilities. With over eight years in commercial finance, he has arranged funding across manufacturing, distribution, and professional services.
