Documentary letters of credit
Documentary letters of credit give security of payment to exporters and confidence to importers that the goods they are buying have been shipped in good order.
Why use documentary letters of credit?
- Exporters who present their shipping documents in order and on time can be paid securely and quickly
- Importers can ensure that they only pay for their goods once they have been shipped and the shipping documentation is in order
- Importers may also be able to negotiate better prices as payment is guaranteed by your bank
- We can confirm an exporter’s letter of credit which will guarantee secure payment against correct documents
- We can issue an importer’s letter of credit and guarantee payment to an overseas supplier
- Documentary letters of credit leverage our banking network to provide confidence to counterparties engaged in export and import transactions
All documentary letters of credit are issued under universally accepted rules set out in Uniform Customs and Practice for Documentary Credits (UCP) publication 600, issued by the International Chamber of Commerce.