Import letters of Credit


A secure solution for making payment


When we issue an import letter of credit on behalf of an importer, it conditionally guarantees payment to the exporter, so long as the exporter complies with all the conditions specified. Import letters of credit are among the most secure methods of settlement, and are internationally recognised.

Safe and effective

Letters of credit are normally binding and can’t be cancelled unless all parties agree.

Benefits

  • Trade with confidence - in the knowledge that your goods will be delivered as agreed
  • Peace of mind - provided by documentary evidence that your goods match the agreed specification
  • Reduces financial risk - since payment is only made if the exporter fulfils the terms of the letter of credit
  • New market penetration - allows you to trade safely in unfamiliar markets
  • Negotiating power - improves your ability to obtain a better price for the goods since the exporter’s payment is secure
  • Enhanced credit position - may let you access post import funding to improve cash flow
  • Safe and efficient - create letters of credit electronically using our online trade banking service.

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Existing customers