Import Letter of Credit

Ensure your import requirements are handled securely and with minimal risk by requesting an import letter of credit from SNB.

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What is an import letter of credit?

This is a method of payment commonly used in international trade transactions, whereby we promise to pay the exporter on your behalf, so long as they comply with the terms and conditions of the letter of credit.

Types of Letters of Credit

Revolving Letter of Credit

If you need to cover multiple transactions over a long period of time, a single revolving letter of credit can facilitate this for you.

Transferable Letter of Credit

A transferrable letter of credit allows you to transfer some or all the credit involved in the transaction to another party.

Stand by Letter of Credit

If you need to cover the risk of a contract party not fulfilling their agreed obligations, a stand by letter of credit has you protected.

Usance payable at sight (UPAS) Letter of Credit

This agreement provides the exporter with immediate payment for goods when the importer may not have the facility with their bank to issue letters of credit.