Letters of Credit

Our team of dedicated specialists is always on hand to offer advice and consultations on all aspects of international operations. Documentary letters of credit are often used as the agreed method of settlement for international trade. Dalcombank offers for its customers a range of documentary services to provide some security in making and receiving international payments.

Import Documentary Credit

Import Letter of Credit is a commitment given by the buyer's bank, to the seller, that they will make payment upon presentation of a pre-agreed, specified set of documents to a bank.
Time scales, dispatch dates and other terms can be also indicated in the letter of credit.

Key benefits

• Letters of credit are controlled through the banking system and payment is dependent upon the exporter presenting of a set of specified documents to a bank, it guarantees the importer that the goods they have ordered will conform to the requirements specified in the contract, and delivered at the agreed time and place.
• Each letter of credit can be designed according to your requirements. All terms and conditions related to shipping, delivery, insurance and quality inspection can be specified in the letter of credit.

Export Documentary Credit

Export Letter of Credit is a commitment given to the exporter by the buyer's bank (the Issuing Bank) that they will make payment to you upon presentation of a pre-agreed, specified set of documents.

Key advantages

• Letter of Credit helps you to lower your risks and you know exactly when you will be paid for the goods.
• Documentary credits are the preferred choice for international transactions in some parts of the world.