Doing business with the Far East? Or concluding an agreement with a new trading partner in Europe? Then the Letter of Credit is the ideal solution. Even if you don't know the other party, you can do business safely.
- As a beneficiary you can count on the bank's commitment in respect of your payment with covering documents; you are therefore not dependent on the buyer's willingness to pay.
- This gives importers more peace of mind, as suppliers must submit certain shipping documents in order for them to be paid.