|
In BICSA we offer the service of Letters of Credit for the importation and exportation of all types of products. By means of a Letter of Credit, BICSA guarantees the supplier, provided he complies with the specific terms and conditions, immediate payment for the merchandise acquired.
Classes
- Importation Letters of Credit. Method of international payment by means of which, BICSA at the request of a client abroad, promises to pay (on demand or at the end) to the foreign seller, a determined sum of money, receiving the documents that support the importation of merchandise which is described as the quantity, quality, weight and conditions previously agreed to with the exporter. If these characteristics are complied with, the paying bank will carry out the operation.
- Exportation Letters of Credit. By means of a method of international payment by which BICSA abroad, at the request of a client, commits itself to pay an exporter (on demand or at the end), a determined sum of money provided certain characteristics and previously stipulated terms in the Letter of Credit, such as quantity, weight, price, delivery date, etc. are complied with.
Modes
- On demand: When shipping documents have been presented as well as any other document requested by the importer, the confirming bank pays immediately.
- On terms: Against the delivery of shipping documents that the exporter makes to the bank, this will deliver a document in which it is obliged to pay the value of the Letter of Credit in the pre-determined period.
- Stand-By: At the request of the purchaser, the bank guarantees the compliance with contracted obligations by the purchaser to the favor of a beneficiary. In the case of non-compliance, the payment will be made against the presentation of the documents required by the purchaser. This mode is more versatile and can guarantee any type of transaction Such as buying and selling of products and services. Also it can guarantee various transactions in a determined period at less cost as compared to Letters of Credit of exportation and importation.
Benefits
- Our operations are made by the SWIFT system.
- Flexibility, for its great diversity of types of commercial operations and services, both national and international.
- Bicsa offers additional financing, in case a determined operation needs it, which allows your company to diminish cash flow. In addition, it offers a service of discounted bills to the beneficiary of the credit when the credit itself is for a long term.
- Bicsa symbolizes trust, because of the guarantee of the bank's participation in your transaction.
- When a bank is present in the commercial operation, the Letter of credit gives guarantee to the salesman.
- It's an extremely flexible instrument, which adapts to the conditions of the commercial operation or services.
Requirements
- Qualified line of credit for openings and financings of Letters of credit.
- To fill the request for opening a Letter of credit.
Further information
To obtain further information on Letters of Credit – Correspondent Banking, fill out this form and one of our executives will communicate with you.
|
