Export documentary credit
Guarantee your sales and facilitate their financing
The documentary credit allows the vendor access to an assurance of payment prior to the dispatch of the goods, and, even prior to the start of their manufacture. In turn, the buyer will have the security that his payment obligation will only be realised when the vendor has presented sufficient accrediting documentation regarding the dispatch of the desired goods. The credit is, therefore, a guarantee for both parties.
What are your needs?
- Assure receipt of payment of your exports, before sending the goods and even before starting their manufacture
- Offer your buyer deferred payment without any increase in your risk
- Ensure access to maximum legal protection
- Adapt the payment method to the sale agreement
- Maintain control of the documents until the time of payment
- Increase your business possibilities
- Reduce the risk of order cancellations
- Ensure risk coverage for the destination country of your exports
- Advance collection of payment, with respect to the term agreed with the buyer
- Immediate notification of the reception of credits received in your favour
- User-friendly, personalised and professional management of your credits
- Confirmation of the credit, which implies our commitment to pay in addition to that of the issuing bank
- Immediate revision of the documents
- Payment or immediate financing, according to the characteristics of the credit. In the case of confirmed credits with deferred payment, we offer you their immediate collection
- Adhesion to the “Uniform Customs and Practice Relating to Documentary Credits (UCP600)” of the International Chamber of Commerce providing a universal, stable and secure reference framework for the processing of your documentary credits.
If you are an intermediary or act as a buying centraliser from different suppliers, you may be interested in credits in your favour ordered by your clients being transferable. The receipt of a transferable credit will allow you to transfer to your supplier(s) the guarantee of the issuing bank, without the need to set up a credit line more information...
Why with Banco Sabadell ?
- We are the leading bank in managing documentary credits for export
- Immediate advice of receipt of the documentary credit in your favour
- Our guidance will allow you to ensure maximum legal and collection security
- We offer made-to-measure financing
- You can take out cover on your exchange rate risks
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- Documents and utilities
Guarantee and letter of credit– A multimedia guide for companies that want to make their business more secure.
When you request your client to establish a documentary credit in your favour, ensure that you transmit precisely all the terms and conditions necessary to ensure that the credit adapts exactly to the sale agreement. You will save time and costs, which could be produced if, due to imprecision or inaccuracies in the credit received it were necessary to request one or more modifications. For this you can use the following forms:
Model for informing the buyer of the terms of the documentary credit to be received (in english)
Specifications of a documentary credit (french)
Model for informing the buyer of the terms of the documentary credit to be received (in spanish)
Our remittance letter form will facilitate the presentation of documents for the use of a documentary credit at your office.
Possibility of immediate collection of the uses of confirmed credits with deferred payment through BS Forfaiting UCP
Uniform Customs and Practice Relating to Documentary Credits: : Here you will find a summary of the rules of the International Chamber of Commerce for Documentary Credits currently valid (UCP600).And via this linkyou can see a summary of the standard international banking practices for documentary credit.
An important percentage of the documents presented in the uses of documentary credits are rejected at first presentation because they present discrepancies. Said discrepancies are inevitable if the conditions are revised carefully upon reception of the credit. Check that the documentary credit that you have received from your client is in line with your agreement and with the terms and conditions of the agreement of sale using this simple utility .