Letters of credit in International Business - Banco Sabadell
Secure your import or export trade operations
We are experts in letters of credit
What is a letter of credit?
A guarantee for the trade exchanges of your international business
We will explain the key aspect of a letter of credit
Export Letter of Credit
What needs does it cover?
It offers your purchaser the deferral of payment without increasing your risk.
You have the utmost protection in your international trade transactions.
It reduces the risk of orders being cancelled and increases the business possibilities.
You get a hedge of the country risk of the destination of your exports in credits confirmed by Banco Sabadell.
Possibility of collecting payment sooner than the deadline agreed with the purchaser.
Avail of transferable credits. If you are an intermediary or act as a centraliser of purchases from different suppliers, it may be in your interest that credits for your account ordered by your customers be transferable. Receiving a transferable credit will allow you to pass on the issuing bank's guarantee to your suppliers, without the need to set up a line of credit.
What are its advantages?
Advantages
Financing tailored to suit you and customised, professional management of your credit
- Immediate notification of the receipt of credits received for your account.
- Confirmation of the credit, which entails our undertaking to make payment in addition to that of the issuing bank.
- Immediate checking of the documents.
- Immediate payment or financing, according to the characteristics of the credit. In the case of drawdowns of confirmed credits with deferred payment, we offer
immediate collection . - A universal, stable and secure frame of reference to process your letters of credit thanks to the Uniform Customs and Practices for Letters of Credit provided by the International Chamber of Commerce.
The import Letter of Credit
What needs does it cover?
It provides the assurance that the payment will be made when the seller has provided the required documentation in the letter of credit.
It confirms your solvency to the seller and guarantees payment for imports.
Your supplier can obtain deferred payment.
Immediate opening and checking of your letters of credit.
Adaptability to the terms of the contract of sale.
What are its advantages?
Advantages
Customised and professional management, online service and bespoke financing
- Avail of friendly, personalised and professional management of letters of credit.
- Request the opening of your credits with our remote banking service
BS Online Empresas , including the simplified modeDirect LC which, in addition, enables you to instantly obtain the draft SWIFT message. - Operate with a service covered by the Uniform Customs and Practices for letters of credit (UCP600) of the International Chamber of Commerce, which provide a universal, stable and secure frame of reference.
- You can obtain bespoke financing and exchange risk hedging1.
Find out more about documentary letters of credit
Below you can access useful documents and information for exporters and importers
Summary of Uniform Customs and Practices for Documentary Credits (UPC600) of the International Chamber of Commerce.- A
guide that provides guidance for checking that the documentary letter of credit provided by your customer is compliant with what was agreed and with the terms and conditions of the sale agreement. - A
document that provides guidance for requesting that ourremote bank open your documentary letter of credit.
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1 A foreign currency hedge or exchange rate insurance is an undertaking whereby the customer and bank mutually undertake to exchange a sum of foreign currency at a set price on a future date.