Credit Documents and Trade Facilities
Protect your business from risk with our Letters of Credit or LCs. Import Letters of Credit allow you to pay for goods from overseas suppliers and cover your trading risks. Export Letters of Credit offer you a guaranteed source of payment for the goods you sell overseas. Since payment would not be made until the exact terms you’ve specified have been met. And because they're irrevocable, no amendments or cancellations can be made without your agreement.
LCs could be cash or non-cash covered. For a non-cash covered LC, the bank could provide an LC cover loan for this purpose.
Trade facilities could be in form of:
- Advise on LC
- Import/Export letter of credit
- LC confirmation
- Documents collection
Basic Application Requirements
- Application letter
- Pro-forma invoice and contract with the supplier/importer
- Collateral
- Financial statement for the last three years and cash flow projections
Please note that the above list is not exhaustive and for additional requirements, kindly contact your Account Relationship Manager or visit your nearest BCR branch.
