Letters of credit

Convenient banking

A formal undertaking given by banks that facilitates the import and export of goods and the fulfilment of your contracts.

Features at a glance

• Import documentary letters of credit

  An irrevocable undertaking by us to a beneficiary to pay a specified amount if documents are presented in strict compliance with the terms of the import credit. It is issued at your request in connection with your purchase of goods from a supplier or actions relating to their importation. The beneficiary (overseas exporter) receives payment without reference to your creditworthiness as the payment risk is transferred from the buyer to us. We obtain reimbursement from you for payments we make under the import credit.

• Export documentary letters of credit

  An irrevocable undertaking by your buyer’s bank to you to pay a specified amount if documents are presented in strict compliance with the terms of the export credit. It is issued at the request of your buyer in connection with goods sold by you to the buyer. It provides a safe method of payment provided you can comply with all terms of the credit. We can assist you to collect amounts under the export credit.

• Standby letters of credit

  An irrevocable undertaking by us to a beneficiary to pay a certain amount to the beneficiary if documents are presented in strict compliance with the terms of the standby credit. It is issued at your request as a back up for a transaction the customer has with the beneficiary (e.g. as a performance bond). It can be used domestically and internationally for both trade and non-trade transactions. It may be a requirement of ours that the standby credit be secured by cash or other acceptable collateral.

• Pricing and terms

  ANZ prepaid, or backed by line of credit.

Apply now

Apply for a letter of credit by visiting our ANZ Hagatna branch or call +1 671 479 9000 to speak to an ANZ trade and FX specialist today.

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