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Import letters of credit can reduce the risk that a supplier will not deliver goods you ordered and paid for. While we cannot eliminate that risk completely, a letter of credit can enable you to provide your supplier with an undertaking of payment, and often specify shipping and payment dates to coincide with your inventory requirements and cash flow demands.
Scotiabanks import letters of credit services include:
- Applications and amendments (with copies of issued instruments and customer advices returned online)
- Discrepancy notification (approve or reject online)
- Information on drawings, balances outstanding and history
TRADEXPRESS elite service
Learn about our fully automated TRADEXPRESS elite service, which provides a full range of import letters of credit services, from application submission through to expiry, and provides all related data transactions electronically for your reports.
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