ANZ undertakes in the Documentary Letter of Credit to effect payment to a beneficiary (overseas exporter) on your behalf. The beneficiary receives payment (upon presenting documents which comply with the terms of the documentary credit) without reference to your creditworthiness as payment risk is transferred from you to ANZ. You then reimburse ANZ for the payment made on your behalf unless other financing arrangements are made.
Features at a glance
- Term drawings (up to a maximum of 180 days from date of shipment) can be arranged allowing the importer to finance the purchase of goods to match domestic cash flow requirements
- Subject to normal lending requirements
- The customer's credit amendment application to ANZ central operations for transmission to the "advising" bank.
For more information
For further information on Import Documentary Letters of Credits contact our Team Leader Trade & Supply Chain on +685 69999 (extension 404) or call us on +685 69999 to speak to an ANZ specialist today.