Trade finance solutions for your business

Benefits of import letters of credit

Conduct international trade with greater confidence. We receive and examine import documents and arrange payment to your supplier once the terms and conditions of the letter of credit have been met.

• Enhanced security and control when purchasing from overseas suppliers
• Greater confidence for both buyer and seller
• Potentially stronger negotiating position on pricing and credit terms
• Deferred payment terms may support working capital requirements
• Ability to transact in convertible currencies worldwide
• A secure and recognised international trade payment method

Requirements

• A formal application is required to open a letter of credit, including details of how the transaction will be funded

Benefits of export letters of credit

We can receive export letters of credit on your behalf. Once the issuing bank's requirements have been met and compliant documents have been submitted, payment can be processed in accordance with the letter of credit terms.  

• Secure payment mechanism for international trade
• Improved cash-flow planning through known payment terms, currency and amount
• Ability to offer competitive trading terms to overseas buyers
• Option to add bank confirmation, subject to approval
• Access to pre-shipment and post-shipment trade finance solutions
• Helps mitigate buyer, bank and country risk

Service features

• Export letters of credit are typically advised within 24 to 48 hours of receipt

Requirements

• All terms and conditions of the letter of credit must be met and required documents submitted before payment can be made