Letter of credit payment is one of the safest payment methods in foreign trade, in which the buyer’s bank undertakes to make payment to the seller when certain conditions are met. Payment is made by presenting the documents that certify the shipment of the goods to the bank. With letter of credit payment, you can easily conduct your foreign trade transactions by adding a bank undertaking. In terms of documents presentation – whether sight payment, deferred payment, or acceptance credit – you can obtain assistance from our Bank for all types of commercial or standby letters of credit. In your import letters of credit, based on your instruction to open a letter of credit, for the arrangement of the cushion letter, obtaining the appropriate documents, and transferring the letter of credit amount; and in your export letters of credit, for the notification, confirmation of the letter of credit coming from correspondent banks, and the payment of the letter of credit amount to the exporter, you can benefit from our Bank’s intermediary services.
Advantages:
- Provides high security for both importer and exporter.
- Payment is made when the specified conditions are met.
- Minimizes the collection risk of the exporter.
- Is one of the most preferred methods in international trade.