Letter of Credit (L/C) Accountant – United Gulf Construction Co. W.L.L
The Letter of Credit (L/C) Accountant is responsible for supporting the preparation, processing, administration, managing, recording, and reconciling all financial transactions related to letters of credit. This role ensures compliance with banking regulations, international trade rules (such as UCP 600/ISBP), and internal accounting policies. The L/C Accountant works closely with finance, procurement, logistics, and banking partners to ensure accurate documentation, timely payments, and efficient transaction flow.
Key Responsibilities
1. Letter of Credit Management
- Prepare, review, and process incoming and outgoing letters of credit.
- Verify that all L/C terms comply with company requirements and contractual obligations.
- Review shipping documents (invoices, packing lists, bills of lading, certificates of origin) for compliance with L/C conditions.
- Coordinate amendments, extensions, and corrections with banks and suppliers as needed.
2. Accounting & Reconciliation
- Record all L/C transactions accurately in the accounting system.
- Monitor L/C-related payments, maturity dates, and settlements.
- Reconcile L/C balances, bank charges, and related accounts.
- Assist with month-end and year-end closing procedures, including accruals and financial statement support.
3. Banking & Compliance
- Liaise with banks on L/C issuance, negotiation, and payment processes.
- Ensure compliance with UCP 600, ISBP guidelines, Incoterms, and internal control policies.
- Maintain complete and accurate audit trails of all L/C transactions.
4. Documentation & Reporting
- Maintain organized documentation for all L/C transactions.
- Prepare periodic reports on outstanding L/Cs, utilization, exposure, and costs.
- Support internal and external audits by providing required documentation.
5. Cross-Functional Collaboration
- Work with procurement, logistics, treasury, and AP/AR teams to ensure smooth import/export operations.
- Communicate with vendors and freight forwarders regarding discrepancies or required clarifications.
Job Details
| Posted Date: | 2026-02-02 |
| Job Location: | Kuwait |
| Job Role: | Accounting and Auditing |
| Company Industry: | Construction & Building |
