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Documentary credits

A documentary credit – also known as a letter of credit – is an irrevocable undertaking issued by a bank at the request of an importer to make payment for goods to an exporter upon presentation of specified documents that comply with the terms and conditions set out in the documentary credit.

From the exporter’s perspective, the documentary credit transfers any payment risk from the importer to ANZ. It is considered to be the most reliable and secure way for importers and exporters to protect their interests and minimise their respective risks in a trade transaction.

Optimising business performance

Benefits for importers

  • Enables an importer to enter into a trade by reducing certain risks, such as their goods arriving late or not meeting the importer’s specifications
  • Assists an importer with financing the purchase of goods in a way that matches up with the importer’s domestic cash flow requirements

Benefits for exporters

  • Documentary credits are regarded as the most acceptable means of credit risk control and payment throughout the world for the sale of goods between traders in different countries
  • Provides an exporter with the option of obtaining pre or post-shipment finance to help the exporter satisfy their working capital requirements

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ANZ Trade Terms (PDF 288 kB)

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