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Tina, Lawyer
Category: Legal
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Experience:  JD, BBA Over 25 years legal and business experience.
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Construction: We are doing a multi-million project in Puerto

Customer Question

We are doing a multi-million project in Puerto Rico in about a month. We asked the customer for a letter of credit. They came back and said that for a standard Stand By Letter of credit, the cost to us would be $92,000.00. Or they would offer us a Documentary Import letter. That cost is about $3200.
Do you have any advice on which letter we should be asking for and is Puerto Rico considered "International" even though it's a US Territory?
thank you,
Submitted: 3 years ago.
Category: Legal
Expert:  Wendy-Mod replied 3 years ago.

I'm Wendy and I'm a moderator for this Legal topic. Thank you for contacting

It was brought to our attention that you asked a legal question about Puerto Rico, where we do not have active professionals. As much as we would like to assist you, we have to be honest and say that the best we can do is provide a legal Internet researcher who might be able to find your answer. We realize that option is not ideal, and we always want to provide our customers with the best possible answer.

At this time, we'd like to give you the option of leaving your question open. Keep in mind that you're never obligated to accept an answer that you're not satisfied with, and you can try it out before you accept. Or, we can close your question page for you, if you prefer.

Thank you for your understanding,

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