Provides an effective, internationally recognised method of payment, provided seller can comply with all terms and conditions of the credit. An export documentary credit is a formal undertaking, issued by a bank, engaging to honour drawings provided certain requirements which it contains are complied with. It is usually issued as an irrevocable document which cannot be cancelled or varied without the consent of all parties.
Features at a glance
- Discount can be arranged for items in local or in foreign currency with interest charged at the appropriate rate (plus a margin) for the numbers of days outstanding
- Regarded as the most acceptable means of credit risk control and payment instrument throughout the world for the sale of goods between traders in different countries.
For further information
For further information on Export Documentary Letters of Credit contact our Team Leader Trade & Supply Chain on
You need Adobe Reader to view PDF files. You can download Adobe Reader free of charge.