Discover how JITSY transforms global and domestic sourcing with transparency, scalability, and ease – through secure payment methods like the letter of credit to protect your international and domestic purchases.

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Introduction

For Indian manufacturers, the reliability of raw material supply whether polymers, chemicals, pigments, or other industrial inputs can make or break growth ambitions. With globalisation, supply chains are more complex, and the risks of advance payments, supplier defaults, or documentation errors are higher than ever.

JITSY is revolutionising procurement for Indian SMEs by offering a seamless, tech-driven platform for both import (foreign) and domestic Letter of Credit (LC) solutions. Whether you’re sourcing polymers from global giants or chemicals from within India, JITSY ensures your business enjoys transparency, speed, and total peace of mind.

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Why Letters of Credit (LC) Are Essential for Modern Manufacturing

The Pain Points Manufacturers Face

• Advance Payment Risks: Upfront payments tie up working capital and expose you to supplier defaults.
• Supplier Trust Issues: New or overseas partners may not have a proven track record.
• Documentation & Compliance: International trade demands perfect paperwork—one mistake can mean costly delays.
• Cash Flow Crunches: Long payment cycles and lack of credit options stifle growth.
• Unpredictable Timelines: Without clear contracts and payment guarantees, delivery schedules can slip.

How LC Solve These Problems

A Letter of Credit is a financial instrument issued by a bank (or NBFC), guaranteeing payment to your supplier once all contractual obligations are met. This means:

• No advance payment risk: Your funds are only released when goods are shipped as agreed.
• Stronger negotiation: Suppliers prioritise LC-backed buyers.
• Audit trail: Every step is documented, supporting GST and compliance needs.
• Faster scaling: With credit facilities, you can handle larger orders or multiple suppliers at once.

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JITSY: Your Partner for End-to-End Raw Material Procurement

What Sets Us Apart

• All Raw Materials Covered: From polymers, chemicals, and pigments to plasticizers and specialty raw materials, JITSY connects you to reliable sources, both domestic and international.
• Tech-Driven Platform: Real-time pricing, ML-powered freight and price optimisation, and secure, cloud-based documentation.
• Total Transparency: No hidden fees, no surprise charges, and full visibility into every transaction.
• Vetted Supplier Network: Access to India’s top manufacturers (HMEL, IOCL, Chemplast, DCM Shriram etc.) and global leaders (Borouge, Lyondell Basell, Formosa, CGPC, ExxonMobil, LG, etc.).
• Compliance & Security: GST-compliant, full KYC, and top-tier data security protocols.
• Personal Support: Direct founder access, rapid response, and step-by-step guidance for every transaction.

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How It Works: Import (Foreign) LC for Raw Materials

1. Apply Online: Register on JITSY and submit your business profile. Our digital platform collects all required documents- GST, PAN, MSME, and KYC
2. Eligibility Assessment: We review your documentation and match you with the right LC facility via leading Indian banks or NBFCs. Our ML systems analyse your needs for best-fit options.
3. LC Issuance & Supplier Coordination: Once approved, JITSY coordinates directly with your chosen global supplier, ensuring all terms are clear and compliant.
4. Order Processing & Dispatch: After LC issuance, your order is processed and dispatched as per mutually agreed contract terms (Inco-term, shipping method, etc.). Timelines are transparent and tracked in-app.
5. Delivery & Documentation: Receive your shipment with all necessary paperwork - test certificates, MSDS, E-way bills, invoices, delivery trail, and insurance (if opted).

Key Benefits:

• Secure global sourcing - no advance payment risk
• Transparent, real-time pricing
• End-to-end audit trail for compliance
• Support for all major industrial raw materials, not just polymers

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How It Works: Domestic LC for Raw Materials

1. Apply for Domestic LC: Use JITSY to submit your local procurement needs - whether for polymers, chemicals, or specialty materials.
2. Eligibility & Approval: Our team reviews your business profile for domestic LC issuance.
3. LC to Indian Supplier: JITSY facilitates and help with the LC terms with buyer's bank ensuring seamless, trust-based transactions.
4. Fast Order Fulfillment: Orders are typically processed within 2 hours minutes and dispatched within 24 hours from trusted domestic partners after receiving LC copy.
5. Comprehensive Documentation: You receive GST-compliant invoices, eway bills, test certificates, and a complete delivery trail for every order.

Key Benefits:

• No need for advance payment
• Access to India’s top manufacturers
• Fast, reliable delivery
• Full documentation for GST and compliance

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Beyond LC: JITSY’s Value-Added Services

• Bulk Discounts: Optimised freight and volume pricing for orders above 50MT.
• Real-Time Market Insights: App-based news and price updates from major Indian and global producers.
• Insurance Options: Secure your raw materials in transit - terms available at order placement.
• Dispute Support: Quality disputes handled directly with the manufacturer, backed by complete audit trails.
• Supplier Onboarding & KYC: Only verified, GST-compliant, and reputable suppliers are onboarded - protecting your business from fraud.

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Eligibility & Documentation Checklist

To apply for LC-backed procurement (import or domestic), you’ll need:

• GST Registration
• PAN Card
• MSME Certificate
• Business KYC (Aadhar, company details)
• TDS declaration (if applicable)

Our team guides you through every step - no paperwork headaches.

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Frequently Asked Questions

What’s the difference between Foreign (Import) LC and Domestic LC? Foreign LCs are used for imports; Domestic LCs are for domestic procurement. Both guarantee payment and reduce risk.

Can JITSY help me import ANY industrial raw material? Yes! While we specialise in polymers, our platform supports procurement of chemicals, pigments, plasticizers, and other industrial inputs.

How long does LC approval take? Typically 1-3 business days, depending on documentation.

Are there any hidden charges? No. All rates and fees are disclosed upfront - JITSY stands for transparency.

How are delivery timelines managed for imports? Dispatch and delivery timelines are governed by mutually agreed contract terms with your supplier. JITSY ensures you have real-time tracking and updates.

What if there’s a quality issue? Quality disputes are resolved directly with the manufacturer, with JITSY providing full documentation and support.

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Real Customer Experiences

“JITSY made our first polymer import hassle-free. The LC process was transparent, and we got real-time updates at every step.” — Operations Head, Delhi-based SME

“We secured a large local order using JITSY’s domestic LC solution - smooth process and fast delivery.” — Procurement Manager, Gurgaon

“Having all raw materials from polymers to specialty chemicals available on a single, transparent platform has saved us huge time and effort.” — Plant Director, Mumbai

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Ready to Secure Your Raw Material Procurement - Import or Local?

• Apply Now: https://www.jitsy.in/#contactFormTab
• WhatsApp Us Instantly: https://wame.pro/JITSY

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About JITSY

JITSY is India’s leading B2B platform for industrial raw material procurement, specialising in polymers, chemicals, pigments, and more. We are committed to transparency, reliability, and empowering Indian manufacturers with tech-driven solutions. Visit us at www.jitsy.in.